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December 19, 2008

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Paul Flynn

I had the great satisfaction Graham of telling Tony Blair in a meeting of the Parliamentary Labour Party, the day after he had appointed Rowan, that the Archbishop had been a friend, neighbour and constituent of mine for the previous five year. During that time he agreed with all Labour Party policies - as interpreted by Newport West Labour Party.

Paul Flynn

I am not pleading guilty to that lot - but there is truth in some of it.

Not saying you are wrong is part of the political game. The other side of the coin of the coin is the Tories saying that labour was responsible for the lot. The cheap credit, self - certification mortgages, and mortgages of 100% plus were insane but there was widespread belief in perpetually appreciating stocks and property.

Paul Flynn

Not true Valleylad. 'Feed in tariffs are in the Climate Change Bill which is much more radical than most of us thought possible. With magnificent people that Barak is appointing, there will be powerfully green policies in the USA and Europe will follow. Perhaps the world.

Tony

If you fancy an eye opening read try Robert Peston's book , 'Who Runs Britain' - in this while he skewers the banks and their 'innovative' financial instruments he also makes a cracking point with regard to the regulatory framework they operated within and how this Labour government has presided over a regime where
a) income inequality has increased at the fastest rate ever
b) the tax lost to the Treasury is measured in billions because of the 10% tax rate (now 18% ) on private equity
c)not enforced a regulatory mechanism on debt and risk pricing that would have stopped the banks lending on such poor risk investments like sub-prime

Now, I know Gordon has saved the world (oh please stop sniggering ) but the one thing that sticks in my craw is the fact he refuses to admit it has nothing to do with anything he did as Chancellor. Yes, sub prime was biggest in the US but the UK banks were knee deep in this and Structured Investment Vehicles (I have tried to get to the bottom of what these are and it complicated, but it seems that bad debt was mixed with good debt and this magically made the bad debt less bad ?) and he did nothing.

This refusal to acknowledge ANY responsibility for the curent mess is the one thing I find hardest to accept.
..and how Labour has betrayed the people it was supposed to protect - lets face it who's job will go the wall first? Thats right, the poor sod at the bottom of the pile ..
'Things can obly get better eh? ' - not from where I'm sitting

valleylad

"It's fool's gold to believe that we can enrich the planet with stocks and property inflation without increases the goods we produce." Indeed, only an inept bear of very small brain would believe such nonsense - but it has been the basis of labour policy for a decade (shall I start digging out Mansion house quotes from Brown?). Frankly if a god bothering fool can recognise this - it shows how talentless and stupid the front benches are.

"It would make sense if we had the German scheme of feed-in tariffs." - again, didn't this pathetic govt whip the vote against?

On most issues (other than those relating to privacy) I usually agree with you Paul, it's just a pity our far right govt disagrees with us both!

Graham Marlowe

Though I am not devoutly religious, Dr Williams, it seems to me, would make a much better Prime Minister than the Clunking Fist.

At least he shows decency and honesty - two virtues that Brown and some of his most self-regarding crawlers lack

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