Wednesday, April 22, 2009
Dany Boy says he saw it coming
BoE's Blanchflower: Nonsense to Believe Crisis Could Not Have Been Foreseen
Couple of days old - found this in a Google search on Blanchflower: Bank of England policymaker David Blanchflower said it is "crass nonsense" to say that the magnitude of the financial crisis was unpredictable before the fall of Lehman.
Posted by dohousescrashinthewoods @ 10:37 PM (1020 views)
4 thoughts on “Dany Boy says he saw it coming”
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paul says:
It was completely predictable because interest rate setters such as him created the mess by underpricing credit with rate cuts at every MPC meeting.
alan says:
The potential crisis was forseen and posted on this website long ago.
Chris Parker’s movie forefold the housing bubble 4 years back. The Sub-prime crisis was logged 18 months in advance. Maybe the BoE is so busy helping to manipulate the figures they forgot to look at what was coming down the track?
Kate now wants a return to 100% mortgages…. Will they learn?
marcus b says:
Its absolutely staggering to me that Blanchflower is now cast as the MPC ‘hero’ for trying to get the committee to cut interest rates earlier than the other members want to. What the media seems to forget is that we would have had 1% interest rates in 2006 if it had been was down to him, how exactly would that have avoided the situation we’re in?
51ck-6-51x says:
What a joker. He argued for cuts to the base rate at the time he is referring to as a time when he could foresee the problems. Why was he acting in that way then? Why was he not using his position to warn the world? Either he is simply lying or he has been underhanded, either way he has exposed his hand as a bluff.