Friday, July 16, 2010

McWhirter telling it like it is

You can bet the house that we will all pay for liar loans

You’ve heard of locking the stable door when the horse has bolted. Well, the Financial Services Authority has gone one better and promised to do its job properly only after it has been closed down. Yesterday, the boss of Britain’s financial watchdog, Lord Turner, grandly announced the FSA was going to put an end to “liar loans”, 125% “suicide” mortgages and other scams from the great housing bubble. Bit late, your lordship. Last month, Chancellor George Osborne announced that the FSA is to be scrapped and financial regulation returned to the Bank of England.

Posted by cass @ 08:26 AM (804 views)
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One thought on “McWhirter telling it like it is

  • Wageslavex14 says:

    MacWhirter’s the only mainstream newspaper columnist who consistently gets it. It’s just a shame he writes for the Glasgow Herald.

    When I lived up in Scotland, MacWhirter gave the impression of someone treading water with nothing of worth to write about, but the crunch, and the REAL causes of the crunch appear to have done the trick.

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