Cameron's Hypocrisy on Northern Rock
TimSwift Mon Sep 17, 2007 at 03:30:45 PM GMT 
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Nick Robinson has noted in his blog how quickly David Cameron has backed away from blaming Gordon Brown for the problems at Northern Rock.
Nick writes:-
Just to remind you, the Conservative leader wrote in the Sunday Telegraph that, "though the current crisis may have had its trigger in the US, over the past decade, the gun has been loaded at home."
Today, though he repeats his criticism of economic growth "built on a mountain of debt", there is not the slightest hint of a direct connection between the government's economic policies and Northern Rock's problems. No wonder.
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But he could have gone much further.
Only a few weeks ago, he was welcoming the publication of John Redwood's policy task group report on deregulation. And what does this have to say about mortgage regulation? The following:-
Just to remind you, the Conservative leader wrote in the Sunday Telegraph that, "though the current crisis may have had its trigger in the US, over the past decade, the gun has been loaded at home."
Today, though he repeats his criticism of economic growth "built on a mountain of debt", there is not the slightest hint of a direct connection between the government's economic policies and Northern Rock's problems. No wonder.
---
But he could have gone much further.
Only a few weeks ago, he was welcoming the publication of John Redwood's policy task group report on deregulation. And what does this have to say about mortgage regulation? The following:-
"Mortgage Regulation. We see no need to continue to regulate the provision of mortgage finance, as it is the lending institutions rather than the client taking the risk."
David Cameron's policy group want to see just the kind of unregulated mortgage policy in this country that has led to the 'sub prime' collapse in the United States. And then he wants to try to blame the Government for the current problem with Northern Rock?
David Cameron's policy group want to see just the kind of unregulated mortgage policy in this country that has led to the 'sub prime' collapse in the United States. And then he wants to try to blame the Government for the current problem with Northern Rock?
Cameron's Hypocrisy on Northern Rock | 4 comments (4 topical)
Cameron's Hypocrisy on Northern Rock | 4 comments (4 topical)
