albs was it gb who was offering people 125% of the value of houses?
was it gb who raised the lending threshold from 2x salary to five times salary.
i dont think so.
it was private sector companies who took risks to earn!!! there big bounuses

He strongly encouraged the banks to do so to create this feelgood factor /nothing can go wrong mindset. h e was the first Labour Chancellor to suck up to the city and make friends in high places etc.
For example,the man in charge of risk at HBOS blew the whistle,told the board that the lending wasnt sustainable and that the train was going to hit the buffers.The top man at HBOS sacked him and called him a liar.Shortly after this GB put the bloke who sacked the whistleblower in at the FSA in 2nd in command (1st in command was a figurehead post).These things are never as simple as the tabloids and the BBC portray them.
The Banks have been about the only industry in this country making any serious money in recent years and when the stock market recovers ,the country will recover with it,not before,its not possible.Its far from a perfect system but the only alternative yet discovered is communism and we know how well that doesnt work.
