Posted: Yesterday at 09:32
Mutley the crash may have been caused in part by the finance big boys but they were fulfilling a need from people falling over themselves to borrow.
The government were in charge of regulation, Gordon Brown had knighted Fred Goodwin for services to banking.
What the government can't be excused of is not preparing for an impending crash, they believed their own rhetoric that there would be no boom and bust.
After the banks failed the UK economy fell much further than any other major economy, we suffered a much deeper recession than France, Germany, Japan, USA (I could go on) this was driven by reckless overspending and mismanagement, millions had been committed in defence, NHS. Remember it was going to cost us more to cancel the aircraft carriers than build them.