Steve Richards Says "No Bank Collapsed"

Steve Richards in the Indy begins his panglossian column with “Labour activists heading for their pre-election conference in Brighton this weekend have cause to be in a mood of giddy euphoria. The Government called it right during the recession. No bank collapsed.”

Apart from Northern Rock of course. Oh, the Royal Bank of Scotland as well. Errrm, didn’t Halifax Bank of Scotland almost bring down Lloyds TSB into the bargain?  Almost forgot Bradford & Bingley. Every UK household has the equivalent of £3,000 invested in shares in RBS and Lloyds.  The taxpayer 100% owns Northern Crock and Bradford & Bingley because they collapsed.

Giddy Steve Richards’ grasp of the facts is worse than his analysis…

See also The Case for Elite Politics and Not Listening to the People, Steve Richards: Fails Numeracy Test and Steve Richards : “Voters Aren’t As Clever As Me”.




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