Thatcher strikes again!

[10ClarionSt]

It's all Thatchers' fault. She removed all the regulations in the financial sector so that people could get access to loans, mortgages etc. Time was, to get a mortgage you had to be married. You had to put at least 10% down and they wouldn't lend you more than twice your salary. Thatcher got rid of that one and within a few years we had the first Mortgage Misery and Negative Equity. Then all the rules were lifted about loans and credit cards. Virtually anyone could acquire one and virtually everyone did, but they couldn't make the re-payments. Transfer that kind of scenario to the businesses themselves, and you shouldn't wonder why there are failures. Good old Maggie eh? What a tw4t!

[kempie]

...and she held a gun to the head of all those who came after her in those intervening 18 years, which stopped them from changing the system!

[Postdog]

Dunno about all that, but I remember when people either paid for what they got from what they saved or did without. Happier days.

[Lindylou]

Not only did you have to be married - you had to be male. Or have a male guarantor.... Women were not considered/allowed to have mortgages. It was believed women couldn't earn enough to sustain a mortage. If you (a male) applied for a mortage, you had to be approved... And if you missed that month's committee meeting (because they had too many applications) you had to wait until the following month for your request to be considered. Took a long time for your application to be approved. Young, newly married couples, could wait several years before they were successful in obtaining a home loan. I'm speaking about the seventies here - not so long ago in the great scheme of things. I always said that Maggie would end up dribbling. Sorry to be cruel. But what goes round comes round. She caused so much misery. Pink Kittens - what do you think??

[Rollo]

The "fault" lies with idiots who

1. Thought they could live on borrowed money/credit forever without ever having to repay debts. They were wrong.

2. Idiots who lent money to people to an extent far beyond the means of those people to repay what they had borrowed. They were wrong too.


Sensible people don't get into difficulties of their own making. Only the idiots, who think there is sometying for nothing to be had at the end of the rainbow, do that.

Nothing to do with Thatcher, or anybody else other than the individual (idiot) involved.

[rov1200]

Baroness Warner was on the news today saying that people with Alzeimers should be peacefully put down. As Carol has admitted her Mother suffers from this condition would this be a suitable case for treatment?.

[kempie]

Thatcher certainly opened the door but Blair and Brown (mostly Brown since "Call me Tony" wanted no part in fiscal matters except those to boost his private coffers) not only held the door wide open but placed a large neon "Welcome" sign above it. Let us also not forget both the FSA and BoE (Mervyn King) not playing any remedial role.

Credit where credit is due (pun intended) - there's enough to spread around for all involved.

[cazzz1975]

I cant help but feel alan hanson played a part in this