The Guardian's 'Comment is Free' section is always predictable and this article is no exception. The article by Zoe Williams tries to absolve the general public from taking out mortgages that they couldn't afford and generally borrowing like there was no tomorrow. Apparently people have no choice but to take banks up on their offers. I think that much of the banks' lending was reckless and that much of the blame for this should be laid at the feet of Blair, Brown and Balls for stoking the economy so recklessly in order to engineer a boom so as to pay for the ridiculous expansion of the public sector and garner votes for their New Labour project.
However at Comment is Free, the only people really to blame include, as always, Margaret Thatcher, here's one comment that does bear repeating here:
However at Comment is Free, the only people really to blame include, as always, Margaret Thatcher, here's one comment that does bear repeating here:
Response to grumpyoldman, 16 May 2012 8:41PM
It is incredible how some people seem to be able to forget that Labour were in power during the biggest expansion of credit, but that's the joy of being a Labour supporter and/or a Socialist...