| Which ones lying? Blair or Corbyn? 21:13 - Jun 15 with 4245 views | Darran |
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| Which ones lying? Blair or Corbyn? on 21:47 - Jun 15 with 2150 views | sherpajacob |
Quite how Blair and Brown caused the failure of Fannie Mae and Freddie Mac or the liquidity problems of BNP Paribas is beyond me.
Can he also be held directly responsible for George Osbornes austerity economics as well?
This is why the Tories, evil, selfish and heartless as they are,,keep getting voted in.
They wouldn't dream of laying blame with previous Tory administrations. |  |
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| (No subject) (n/t) on 21:52 - Jun 15 with 2142 views | JACKMANANDBOY |
| Which ones lying? Blair or Corbyn? on 21:47 - Jun 15 by sherpajacob |
Quite how Blair and Brown caused the failure of Fannie Mae and Freddie Mac or the liquidity problems of BNP Paribas is beyond me.
Can he also be held directly responsible for George Osbornes austerity economics as well?
This is why the Tories, evil, selfish and heartless as they are,,keep getting voted in.
They wouldn't dream of laying blame with previous Tory administrations. |
Yes, US mortgage derivatives not created by Blair! Why is Corbyn having a go at him on this now? [Post edited 15 Jun 2019 22:05]
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| Which ones lying? Blair or Corbyn? on 23:18 - Jun 15 with 2018 views | WarwickHunt |
The Blair government actually achieved things; the only thing Labour will achieve under Corbyn is another Tory government.
Right on, Jezza - you massive fûcking twàt. |  | | |
| Which ones lying? Blair or Corbyn? on 23:28 - Jun 15 with 1998 views | Nookiejack |
The Balance Sheets of the UK High Street banks grew to such an extent that their liabilities were each more than the GDP of the U.K.
Brown was happy to let this happen as received massive tax receipts from the City.. |  | | |
| Which ones lying? Blair or Corbyn? on 00:03 - Jun 16 with 1973 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 21:47 - Jun 15 by sherpajacob |
Quite how Blair and Brown caused the failure of Fannie Mae and Freddie Mac or the liquidity problems of BNP Paribas is beyond me.
Can he also be held directly responsible for George Osbornes austerity economics as well?
This is why the Tories, evil, selfish and heartless as they are,,keep getting voted in.
They wouldn't dream of laying blame with previous Tory administrations. |
Labour Government 1997 to 2010
Financial Crisis 2008
Selfish, heartless Tories - how do you work that out - when Labour were in power 11 years up to the Finacial crisi? | | | |
| Which ones lying? Blair or Corbyn? on 01:31 - Jun 16 with 1912 views | longlostjack |
| Which ones lying? Blair or Corbyn? on 00:03 - Jun 16 by Nookiejack |
Labour Government 1997 to 2010
Financial Crisis 2008
Selfish, heartless Tories - how do you work that out - when Labour were in power 11 years up to the Finacial crisi? |
Point spectacularly missed. |  |
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| Which ones lying? Blair or Corbyn? on 05:57 - Jun 16 with 1839 views | Kilkennyjack |
| Which ones lying? Blair or Corbyn? on 23:18 - Jun 15 by WarwickHunt |
The Blair government actually achieved things; the only thing Labour will achieve under Corbyn is another Tory government.
Right on, Jezza - you massive fûcking twàt. |
The truth. |  |
| Beware of the Risen People
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| Which ones lying? Blair or Corbyn? on 07:59 - Jun 16 with 1776 views | felixstowe_jack |
Nice to see Corbyn sticking up for his friends in Iran after the lattest attacks on oil tankers off their coast.
He supported the Russian after their chemical attacks in Salisbury. Makes you wonder why Corbyn hates the UK so much. | |
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| Which ones lying? Blair or Corbyn? on 09:56 - Jun 16 with 1694 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 01:31 - Jun 16 by longlostjack |
Point spectacularly missed. |
Labour took the â30 pieces of silverâ In respect of tax receipts from the city to pay for increased public services - as the financial bubble grew and grew.
Trouble is the financial bubble then popped.
Why did Labour allow Northern Rock to take out 125% LTV mortgages?
Why did they allow the balance sheet of RBS to swell to enormous levels?
That is what I assure Momentum are getting at. | | | |
| Which ones lying? Blair or Corbyn? on 09:59 - Jun 16 with 1684 views | exiledclaseboy |
| Which ones lying? Blair or Corbyn? on 09:56 - Jun 16 by Nookiejack |
Labour took the â30 pieces of silverâ In respect of tax receipts from the city to pay for increased public services - as the financial bubble grew and grew.
Trouble is the financial bubble then popped.
Why did Labour allow Northern Rock to take out 125% LTV mortgages?
Why did they allow the balance sheet of RBS to swell to enormous levels?
That is what I assure Momentum are getting at. |
I agree. Labourâs mistake was continuing the Toriesâ deregulatory policies as it relates to the banks. Terrible error. |  |
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| Which ones lying? Blair or Corbyn? on 10:08 - Jun 16 with 1663 views | Highjack |
The answer is most likely to be âboth of themâ. |  |
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| Which ones lying? Blair or Corbyn? on 10:14 - Jun 16 with 1653 views | BarrySwan |
| Which ones lying? Blair or Corbyn? on 21:47 - Jun 15 by sherpajacob |
Quite how Blair and Brown caused the failure of Fannie Mae and Freddie Mac or the liquidity problems of BNP Paribas is beyond me.
Can he also be held directly responsible for George Osbornes austerity economics as well?
This is why the Tories, evil, selfish and heartless as they are,,keep getting voted in.
They wouldn't dream of laying blame with previous Tory administrations. |
It was of course British banks that bought up large amounts of American mortgages which had been issued to people who never had a hope of repaying them.
I watched a programme on TV where an American mortgage adviser was saying that his industry couldn't believe their luck. They made money selling these mortgages to those who had no realistic chance of keeping up repayments and then danced with delight as the mug British banks came along and relieved the American institutions of all liability by buying up huge portfolios of the doomed mortgages.
Perhaps if the Labour government had not relaxed regulations so much and had in place a proper regulatory body instead of the useless now disbanded FSA then the British taxpayer would not have had to bail out our greedy banks.
Oh and on the subject of Freddie Mac, Fannie Mae, irresponsible mortgage lending and of course the British lefts favourite American socialist hero heres just one of the reasons why the crisis occurred
https://www.telegraph.co.uk/comment/columnists/christopherbooker/4413546/This-is [Post edited 16 Jun 2019 10:22]
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| Which ones lying? Blair or Corbyn? on 10:23 - Jun 16 with 1631 views | Highjack |
In fairness though Blair is correct when he says he removed children from the effects of poverty abroad. Thereâs nothing that eases a young Iraqi childâs money worries like a cruise missile coming through the school window during double maths. | |
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| Which ones lying? Blair or Corbyn? on 10:24 - Jun 16 with 1628 views | controversial_jack |
The entire financial system was on the edge, mostly due to the derivitives market, the mortgage subprime business was the final straw it wasn't the cause.
Capitalism failed in 2008! | | | |
| Which ones lying? Blair or Corbyn? on 11:34 - Jun 16 with 1579 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 10:24 - Jun 16 by controversial_jack |
The entire financial system was on the edge, mostly due to the derivitives market, the mortgage subprime business was the final straw it wasn't the cause.
Capitalism failed in 2008! |
Labour were in charge since 1997 11 years before 2008.
They had the power and time to rein things in. | | | |
| Which ones lying? Blair or Corbyn? on 11:36 - Jun 16 with 1575 views | exiledclaseboy |
| Which ones lying? Blair or Corbyn? on 11:34 - Jun 16 by Nookiejack |
Labour were in charge since 1997 11 years before 2008.
They had the power and time to rein things in. |
And Iâd imagine the Tories were screaming at the top of their lungs for more regulation in the financial sector through that entire time were they? | |
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| Which ones lying? Blair or Corbyn? on 11:45 - Jun 16 with 1563 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 11:36 - Jun 16 by exiledclaseboy |
And Iâd imagine the Tories were screaming at the top of their lungs for more regulation in the financial sector through that entire time were they? |
Course they wouldn't have but that is a 'what if' question.
Labour were the party in power for 11 years before the financial crisis so could have done something about not allowing the bubble to develop. | | | |
| Which ones lying? Blair or Corbyn? on 11:53 - Jun 16 with 1550 views | exiledclaseboy |
| Which ones lying? Blair or Corbyn? on 11:45 - Jun 16 by Nookiejack |
Course they wouldn't have but that is a 'what if' question.
Labour were the party in power for 11 years before the financial crisis so could have done something about not allowing the bubble to develop. |
I agree fully. Letâs explore the âwhat ifâ scenario though. Would the Tories, historically the party of deregulation, have done things any differently do you think? | |
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| Which ones lying? Blair or Corbyn? on 12:12 - Jun 16 with 1524 views | oldtownjack |
| Which ones lying? Blair or Corbyn? on 11:45 - Jun 16 by Nookiejack |
Course they wouldn't have but that is a 'what if' question.
Labour were the party in power for 11 years before the financial crisis so could have done something about not allowing the bubble to develop. |
The process of de-regulation started under Thatcher and continued under Blair and Brown who used the windfall from the financial sector to fund the massive investment in public services. The Tories were calling for more de-regulation at the time. One of the failings of Ed Milliband is that he didn't fight strongly enough the hghly effective Tory narrative that the global financial crash was cause by Labour fiscal mismanagement. Also, many argue that austerity wasn't necessarily the natural outcome of the crash and that it was ideological in nature as opposed to being an economic necessity. | |
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| Which ones lying? Blair or Corbyn? on 12:47 - Jun 16 with 1489 views | JACKMANANDBOY |
So why exactly is Corbyn raising this? | |
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| Which ones lying? Blair or Corbyn? on 13:05 - Jun 16 with 1482 views | waynekerr55 |
| Which ones lying? Blair or Corbyn? on 12:47 - Jun 16 by JACKMANANDBOY |
So why exactly is Corbyn raising this? |
Because he's an incompetent and thick Champagne Marxist who should fĂÂșck off somewhere to show solidarity.
The useless cĂÂșnt [Post edited 16 Jun 2019 13:05]
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| Which ones lying? Blair or Corbyn? on 13:09 - Jun 16 with 1470 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 11:53 - Jun 16 by exiledclaseboy |
I agree fully. Letâs explore the âwhat ifâ scenario though. Would the Tories, historically the party of deregulation, have done things any differently do you think? |
I think Tories have been the party of deregulation since Thatcher. Since the Wall Street crash there was always reluctance for Investment Banks to own Retail Bank re Glass-Steagall Act.
If Investment Banks historically wanted to gamble they had to do it with their own capital.
I donât think the Tories would have reined things back - however who knows what the shape of the economy would have looked like then.
I generally think that the people in charge are accountable for their policies and decisions.
I donât think you can blame the Tories for it on the premis - that if they were in charge they wouldnât have done anything differently. | | | |
| Which ones lying? Blair or Corbyn? on 13:15 - Jun 16 with 1461 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 12:12 - Jun 16 by oldtownjack |
The process of de-regulation started under Thatcher and continued under Blair and Brown who used the windfall from the financial sector to fund the massive investment in public services. The Tories were calling for more de-regulation at the time. One of the failings of Ed Milliband is that he didn't fight strongly enough the hghly effective Tory narrative that the global financial crash was cause by Labour fiscal mismanagement. Also, many argue that austerity wasn't necessarily the natural outcome of the crash and that it was ideological in nature as opposed to being an economic necessity. |
But remember things like Brownâs golden rule about only borrowing for investment.
In respect of the ideological argument
https://www.ukpublicspending.co.uk/uk_national_debt_analysis
âIn 2005 the UK National Debt was less that ÂŁ0.5 trillion. But then came the worldwide financial crisis of 2008 and subsequent recession. The National Debt increased rapidly and went over ÂŁ1 trillion in 2011 and over ÂŁ1.5 trillion in 2016. At the end of March 2019 the National Debt was ÂŁ1.80 trillion.â
Do you borrow even more in the hope of stimulating the economy? | | | |
| Which ones lying? Blair or Corbyn? on 13:50 - Jun 16 with 1422 views | exiledclaseboy |
| Which ones lying? Blair or Corbyn? on 13:09 - Jun 16 by Nookiejack |
I think Tories have been the party of deregulation since Thatcher. Since the Wall Street crash there was always reluctance for Investment Banks to own Retail Bank re Glass-Steagall Act.
If Investment Banks historically wanted to gamble they had to do it with their own capital.
I donât think the Tories would have reined things back - however who knows what the shape of the economy would have looked like then.
I generally think that the people in charge are accountable for their policies and decisions.
I donât think you can blame the Tories for it on the premis - that if they were in charge they wouldnât have done anything differently. |
But itâs inherent from your answer that the Tory governments since 1979 are at least partly responsible given that they began the regulation that Labour continued. Labour was the party in power at the time of the crash but it would have happened anyway. | |
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| Which ones lying? Blair or Corbyn? on 13:55 - Jun 16 with 1411 views | Nookiejack |
| Which ones lying? Blair or Corbyn? on 13:50 - Jun 16 by exiledclaseboy |
But itâs inherent from your answer that the Tory governments since 1979 are at least partly responsible given that they began the regulation that Labour continued. Labour was the party in power at the time of the crash but it would have happened anyway. |
Labour were in power for 11 years before the crash.
Surely they had enough time to change things? | | | |
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