Greed-filled fiasco
Published Date:
24 October 2008
I READ with interest Yvette Cooper's comments relating to the banking crisis (Express, October 16) and how conveniently both she and her government continually hide behind the word "global" which, as far as I am concerned, merely avoids responsibility.
The fact remains, under Gordon Brown's stewardship as chancellor, banks were encouraged to lend ridiculous amounts of money on deals that assumed there would be no serious fluctuation in the costs of oil, raw materials etc.
The so called economic prosperity of the nation was founded on credit and debt in the false notion that the good times would last forever, whereas in reality, it was a disaster waiting to happen. Unfortunately, this scenario was enacted the world over (particularly in America).
Governments the world over should hold their heads in shame for failing to ensure adequate regulatory practices and share the blame with the banks for this greed-filled fiasco.
DAVID MARSH
West Close
Carleton, Pontefract
The full article contains 159 words and appears in n/a newspaper.
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Last Updated:
24 October 2008 2:41 PM
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Source:
n/a
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Location:
Pontefract & Castleford
