Just watching a discussion on tv.
I hope that Labour MP, Angela Eagle carries on fronting the Labour attempts to justify it's actions and get back in power! In my view, she (and her leader Brown) are helping the Conservative cause and doing Labour harm. Which is good!
She was saying that the banks should be lending money to get the economy going. But (almost) everybody in the UK knows that the government (the one that she is a minister in) has told the banks to build up liquidity and they are doing this rather than financing the businesses and the mortgages of the UK!
We all know that, the banks know that, the businesses know that.
So why does Eagle not seem to know that when she talks about the banks financing businesses and house loans.
I also like the way that Labour, particularly Brown and Eagle on tv tonight, blame the credit crunch for the financial problems. They seem to forget that Brown was in charge of regulating the financial industry in the years before it went belly up with a severe case of bad loans!
The fact that the US and other countries had similar problems does not let New Labour off the hook in the UK. Their actions (or inactions!) allowed the credit crunch to hit the UK severely.
So it is a severe case of hypocrisy to blame the credit crunch for the UK's problems!!!!!
Keywords: banks, brown, credit crunch, economy, finance, labour, mortgages