How Mrs Thatcher's (Conservative / Tory) sell-off went wrong

The Failure of Bradford & Bingley is the final nail in the coffin of one of Margaret Thatcher's most widely felt financial reforms. Its nationalisation marks the end for de-mutualised building societies, all of which have now been taken over or gone bust.
The Iron Lady introduced demutualisation in an 1986 Act, enabling building societies - owned by their members - to turn themselves into public companies. This allowed the likes of Northern Rock, Halifax , Abbey National (Santander) B&B better access to cheaper money; but they all either failed or were gradually snapped up by competitors with more spending power.
B&B demutualised in 2000 and built its business on risky buy-to-let and self-certified mortgage market - a decision which , with banks now super-cautious about lending money, has proved its downfall.




Taken from: The Metro Newspaper Mon Sept 29, 2008

RE - US GOVT's POSSIBLE $3/4 TRILLION BAILOUT

Not being really clever at maths , but surely if the US Govt buys all tehse bad debts off the banks then the American Govt will then be stuffed by these bad debts and will have basically given the banks 3/4 trillion dollars?

Secret Service Orders Police to Roadblock Obama Supporters

George Bush and his pet goat

WHY MOZILLA FIREFOX IS THE SAFEST BROWSER

Firefox keeps your personal info personal and your online interests away from the bad guys.

READ WHY HERE

RMT to go on strike on South Eastern Railways 22 - 23 Sept 2008

September 17, 2008
Drop the intimidation and negotiate, RMT tells South Eastern on eve of talks

September 17, 2008

SOUTH EASTERN Trains should drop its intimidation tactics against its workforce and negotiate settlements to the disputes that have led to 48-hour strike action being called for next Monday and Tuesday, Britain’s biggest rail union said today.

SEE MORE HERE

THE BIGS PAWS BLOG HAS FINALLY ARRIVED

CLICK HERE TO KEEP UP TO DATE ON BIG PAWS AND THE TRIALS AND TRIBULATIONS OF THE TIGER TRIBE