Wednesday, September 22, 2010

Sounds good to me

Lord Turner's 'unpopular' credit control plans to prevent future bubbles

'Regulators will have the power to cap mortgages, limit credit to real estate investors, and force banks to restrict lending....Regulators will have the power to cap mortgages, limit credit to real estate investors, and force banks to restrict lending under powers that echo the 1980s – the last time credit could be switched on and off by a central watchdog. '

Posted by hpwatcher @ 06:18 AM (1043 views)
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3 thoughts on “Sounds good to me

  • Unpopular that is, with the banksters. A straw poll of anyone on the Clapham Omnibus would tell any media source that such restrictions are welcome and long overdue.

    It is time to draw a line under this whole sorry chapter in history.

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  • Turner is a very thoughtful and sensible man in my opinion. From the FT on the same topic:

    “A year after he scolded much of the City as “socially useless”, Lord Turner took an entirely different tack on Tuesday night in his annual speech at the Mansion House, arguing that regulators and politicians share the blame.

    “We need to move beyond the demonisation of overpaid traders and their unnecessary [financial products], to recognise that, in finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error,” he said. “

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