So - who is really to blame for the credit crunch?

[Troll]

Subprime means what exactly

Subprime means loans to who precisely

When did it start?

Who let it happen?

Why did they let it happen?

[AtW]

andyW.

[Another Dodgy Agent]

Recruitment Agents!

[DiscoStu]

It's AtW's fault. His expert analysis of our financial system failed to spot the warning signs in time.

[HairyArsedBloke]

Subprime means what exactly
Debt that has a higher risk of not being repaid.


Subprime means loans to who precisely
Those whose incomes are already under strain or have an ‘unstable’ lifestyle.


When did it start?
There has always been dodgy loans, but not at this level. The current problem got going when ‘new business opportunities’ were being exploited by lenders within a framework of ‘encouragement’ to be more ‘inclusive’ in their lending policies.


Who let it happen? /Why did they let it happen?
Weak minded banking executives that didn’t understand banking; incompetent regulators who failed in their oversight and should have know better in any case; ‘liberal’ minded lobbyist and campaigners who pumped their idiotic socialist dogma; but especially, evil government ministers/leaders who exploited the perceived wealth effect of high asset price inflation and lax credit to maintain themselves in power.

[Pickle2]

Greedy fookers who ramped house prices way out of line with reality. Be that any of our super smart BTL "investors", the media and their constant stream of "location location" buy a house and make a killing tulipe, or the banks for giving people enough money to hang themselves.

There is no one to blame but ourselves. Not nuLab, not GB, just the greedy stupid masses. If any of this has caught you by surprise, if you couldnt see the madness of white van man 400k mortgages, then you deserve the smack between the eyes that is comming your way.

[sasguru]

our super smart BTL "investors...

Thanks thats nice of you ...

[HairyArsedBloke]

Alex has a viewpoint.

BTW, I'm going to Peattie and Taylor's original website now. I am fed up with the 'make-over' that the Telegraph is getting. It is going down market since they were taken over.

[stackpole]

Who's to blame? The government for sitting on its arse and watching personal debt spiral out of control.

If national governments are for anything, it is heading things like that off at the pass.

We on here could see what was happening six years ago, so they should have done.

[oracleslave]

We on here could see what was happening six years ago