Editor's Blog1 min ago
David Cameron: no hope or idiot.
I see Cameron has decided to blame the Government for the Northern Rock fiasco.
Would this guy blame Government for a world-threatening asteroid if it were to happen?
http://news.bbc.co.uk/1/hi/uk_politics/6997214 .stm
Would this guy blame Government for a world-threatening asteroid if it were to happen?
http://news.bbc.co.uk/1/hi/uk_politics/6997214 .stm
Answers
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No best answer has yet been selected by Zeddy. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.David Cameron: no hope or idiot? Both. He jumps on every available bandwagon in an effort to gain favour and popularity with the electorate. I don't like Gordon Brown, and I don't trust him. It's a pity the Conservatives can't find someone with more credibility, and with more common sense, to lead them. This appalling government has no effective opposition whatsoever.
Zeddy, I beg to differ, I said I can empathise with what Cameron has been saying of late, I didn't say if I liked him or not,
What I did say, was that I agreed with naomi's decription of him.
Does that make me, one, two three, or four faced?.
To go further if you like, I will never vote Labour, while in its present form, and while Camerons in charge of the Tories, I won't vote for them either.
What I did say, was that I agreed with naomi's decription of him.
Does that make me, one, two three, or four faced?.
To go further if you like, I will never vote Labour, while in its present form, and while Camerons in charge of the Tories, I won't vote for them either.
what on earth has Brown got to do with it? You could trace the cause of all this kerfuffle to the day when building societies were encouraged to demutualise, turn themselves into banks and public companies and generally get involved in stock market risks. This was a Thatcher idea, as I recall.
More recently, the problem has been that poor people in America were given mortgages with high interest rates (because they were 'sub-prime' borrowers) and then, in an economic squeeze, started to lose their jobs and couldn't pay the premiums. Meanwhile the banks they'd borrowed from had sold off the loans in complex ways to financial service groups all round the world. So complex that none of them is yet quite sure how much trouble they're in. But Northern Rock seems to have specialised in such fancy deals and started to realise it was in some difficulty.
Brown has decided that it can't be allowed to go under, so its loans had to be guaranteed. My guess is all those people queueing for their savings were wasting their time, the government was never going to let it fail, but I guess they got a bit of fresh air and some free coffee.
So what should Brown have done? Reversed Thatcher's legislation? Forbidden banks to make deals with other banks? Left Northern Rock lenders to panic?
Anyone?
More recently, the problem has been that poor people in America were given mortgages with high interest rates (because they were 'sub-prime' borrowers) and then, in an economic squeeze, started to lose their jobs and couldn't pay the premiums. Meanwhile the banks they'd borrowed from had sold off the loans in complex ways to financial service groups all round the world. So complex that none of them is yet quite sure how much trouble they're in. But Northern Rock seems to have specialised in such fancy deals and started to realise it was in some difficulty.
Brown has decided that it can't be allowed to go under, so its loans had to be guaranteed. My guess is all those people queueing for their savings were wasting their time, the government was never going to let it fail, but I guess they got a bit of fresh air and some free coffee.
So what should Brown have done? Reversed Thatcher's legislation? Forbidden banks to make deals with other banks? Left Northern Rock lenders to panic?
Anyone?
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