Thatcher to be given a state funeral

[Simster]

Fair enough, my best PM ever would be Churchill

Obviously - because he unified a nation in wartime. No other PM will ever garner cross party sentiment like that in peace time, IMO.

 

[Simster]

the fiasco is the fault of bankers greed, the response to it was poor.

What would you have done?

 

[London Pompous]

the fiasco is the fault of bankers greed, the response to it was poor.

The B of E and FSA are responsible for the monitoring of the bank, surely they screwed up more than the government. No one comes out of this smelling of roses, but to blame it solely on the government is odd.

 

[User removed 4]

What would you have done?

accepted the bid from lloyds when they first realised there was a problem

 

[User removed 4]

The B of E and FSA are responsible for the monitoring of the bank, surely they screwed up more than the government. No one comes out of this smelling of roses, but to blame it solely on the government is odd.

Bof E had banking supervision taken away by gordon brown

 

[hans kraay fan club]

Obviously - because he unified a nation in wartime. No other PM will ever garner cross party sentiment like that in peace time, IMO.

Churchill too is feted by history, in a manner that belies the fact that just months after the end of WWII, the first time the people actually had the opportunity to vote, they did so OVERWHELMINGLY against him.

He lost to Attlee in July 1945 by 145 seats.

 

[Jahooli]

Cannot stand the woman, let her pay for her own funeral the evil cow.
I can't believe the majority of the public would want to waste money on her.
I will only pay her enough respect to stay silent for a minute IF I am at a football match otherwise it will be business as usual, I might use the time to empty my bladder before the game starts and imagine I'm pissing on her evil face, I will not applaud her.

 

[Simster]

accepted the bid from lloyds when they first realised there was a problem

And why is that any better than nationalising it?

 

[Alex Alex Dawson oo! oo!]

accepted the bid from lloyds when they first realised there was a problem

Is this with hindsight or did you actually think so then? Didn't the BoE also refuse to stump up the cash required at the time because they (ie King) didn't want to set a precident and be seen as underwriting/rewarding risky business practice in the banking sector?

 

[Uncle Spielberg]

Yet you blame the Northern Rock fiasco on Labour, whilst the conclusion of the report says

The fiasco has dented public confidence in the financial industry - and it's all too easy for the banks to blame the government, the regulator or the American housing market.

Indeed they seem determined to blame anything - anything, that is, except their own greed.

So, on reflection, is the Northern Rock fiasco the fault of the bankers greed or New Labour? You appear to contradict yourself.

Show me where I have blamed Northern Rock on Labour. I have not, you see thats the problem with NSC you are quoted for saying something you never did as if its a fact, I blame the Northern Rock fiasco on the Northern Rock and the FSA. The FSA were made responsible for mortgage lending by the Labour government and were woeful in keeping an eye on them. Northern Rock Plc lending was all high risk lending and the Pigeons came home to roost.

 

[Uncle Spielberg]

Ironically Northern Rock Plc are still alive and kicking and launched some very good mortgage rates this week so they are trying to revive themselves with a more sensible business model.

 

[London Pompous]

Stamp Duty, Inheritance Tax, Robbery of Pension Funds, Mismanagement of the economy, growth based on credit and not sustainable basis, Northern Rock fiasco, lack of consumer and business confidence in this government, I could go on but they are to blame for a lot of the mess we are in.

Here it is US, I think the words NORTHERN ROCK FIASCO are yours, are they not?

 

[Uncle Spielberg]

Here it is US, I think the words NORTHERN ROCK FIASCO are yours, are they not?

15 Love

 

[London Pompous]

Nohard feelings US, I know you can take it as well as give it!

 

[Uncle Spielberg]

You got me there fair play.

 

[User removed 4]

And why is that any better than nationalising it?

cause the bid was better than anything that was on offer after they had finished dithering , and that way lloyds wouldve taken on the risk not the taxpayer.

 

[simmo]

Maggie Thatcher will be the most devisive PM ever. You either love her or hate her. She put in place processes that at the time (and maybe even still now) caused incredible pain to millions and yet years later the vast majority of us now benefit from the result of these processes. When she took over Britain was virtually dying on it's feet. We were known by many as the sick man of Europe. A couple of years before she took over we had a 3 day week, where there was no electricity for 2 days of the working week! How banana republic is that and how inconceivable is that now! Britain was like a cancer pantient that was extremely ill and she was the doctor that applied the chemotherapy, at the time it had terrible side effects (unemployment etc) but now we are out the other side of it we are much better and the cancer has gone.

She truly changed politics, and the way that mainstream politicians now act and the issues that they have to deal with, pre Thatcher the unions dominated this country (they brought down the Heath government in the mid 70's with the 3 day week), now they are a near irrelevance. Inflation was regulary 15+%, now it is a problem if it is over 2%. State owned industries are regarded as inconceivable and a endless pit to waste money. Home ownership become a realistic aim of millions (this was not the case pre-Thatcher, it was actually quite hard to get a mortgage).

I mean Blair was PM for nearly the same amount of time but what do you think we will be talking about changes he made to everyones life 20 years on? I mean real changes, I cannot think of a single one. His legacy will be Iraq....anything else?

At the time I absolutely loathed her, however, in hindsight, she has been the greatest prime minister since Churchill, without question, and should have a state funeral.

 

[Alex Alex Dawson oo! oo!]

cause the bid was better than anything that was on offer after they had finished dithering , and that way lloyds wouldve taken on the risk not the taxpayer.

I don't think this is the case. According to an interview Mervin King gave to the BBC last autumn, the Lloyd's/TSB offer for Northern Rock was conditional upon them receiving a Govt/BoE loan of £30 billion loan at a "competative" (low?) rate to finance the purchase?

 

[User removed 4]

I don't think this is the case. According to an interview Mervin King gave to the BBC last autumn, the Lloyd's/TSB offer for Northern Rock was conditional upon them receiving a Govt/BoE loan of £30 billion loan at a "competative" (low?) rate to finance the purchase?

you may be right but im pretty surethat was virgin ?

 

[Alex Alex Dawson oo! oo!]

you may be right but im pretty surethat was virgin ?

I remember that too. This link gives some info on the BBC interview with MK where he confirms that he advised the Govt NOT to grant the loan to Lloyds.

BBC NEWS | Business | UK 'faces more financial shocks'