I am going to go for the obvious today.
When our Gord and Labour got into office, there were no 100% mortgages, and it was fairly difficult to borrow money and you had to save up a deposit if you wanted a mortgage.
Gord decided as Chancellor that the Banking sector and indeed the financial sector as a whole, was too restrained and he decided to DE-Regulate the aforementioned sector.
Which led to inordinate lending, mortgages that were over 100% and a scramble by the financial greed gods to make money from the interest paid by people who couldn’t really afford the loans.
This was described by Gord as being “prudent”.
BBC NEWS Gord has now apparently decided as Prime Minister that the banks, and the financial sector need more regulation, and that mortgages should not be 100% and that people should save up a deposit if they wanted to buy a house.
“Writing in The Observer, he called for a new age of sobriety in UK banking, calling for the return of "prudent", old-fashioned high street banks.
He also said banks should not dabble in complex international investments.”
Pot and kettle are the words that come to mind.
If Gord does anymore U turns hopefully he will disappear up his own anal orifice, and wouldn’t that be a relief for us all.
“Few things are brought to a successful issue by impetuous desire, but most by calm and prudent forethought.” Napoleon Bonaparte
Angus
NHS Behind the headlines
Angus Dei on all and sundry
When our Gord and Labour got into office, there were no 100% mortgages, and it was fairly difficult to borrow money and you had to save up a deposit if you wanted a mortgage.
Gord decided as Chancellor that the Banking sector and indeed the financial sector as a whole, was too restrained and he decided to DE-Regulate the aforementioned sector.
Which led to inordinate lending, mortgages that were over 100% and a scramble by the financial greed gods to make money from the interest paid by people who couldn’t really afford the loans.
This was described by Gord as being “prudent”.
BBC NEWS Gord has now apparently decided as Prime Minister that the banks, and the financial sector need more regulation, and that mortgages should not be 100% and that people should save up a deposit if they wanted to buy a house.
“Writing in The Observer, he called for a new age of sobriety in UK banking, calling for the return of "prudent", old-fashioned high street banks.
He also said banks should not dabble in complex international investments.”
Pot and kettle are the words that come to mind.
If Gord does anymore U turns hopefully he will disappear up his own anal orifice, and wouldn’t that be a relief for us all.
“Few things are brought to a successful issue by impetuous desire, but most by calm and prudent forethought.” Napoleon Bonaparte
Angus
NHS Behind the headlines
Angus Dei on all and sundry
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