Tag Archives: financial irresponsibility

Can you tell the heroes from the villains in the sub-prime mortgage disaster?

Michael Lewis’s highly readable account of the collapse of the US sub-prime mortgage market and the worldwide financial crisis it triggered focuses on a small number of characters. People with iconoclastic views determined not to be constrained by the old conventional rules. People who created new financial investments. People who put money into places their investors did not really understand on a good day and did not even know what had been done with their money on a bad day. People who made huge profits …

Posted in Books | Also tagged , and | 8 Comments

Labour’s legacy: £1 million every month on unused fire stations

We are used to stories of how Labour in Government wasted stacks of cash during their 13 years in office. From aircraft carriers to PFI projects to centralised ID databases and other IT projects, billions were needlessly thrown away. Those billions burnt the gaping hole in our public finances that the Coalition is trying, in difficult circumstances, to fix.

Another example of Labour profligacy came to light this week in the Times (£). Apparently, £1 million a month of our hard earned taxes is going to pay costs on unoccupied state of the art fire service control rooms built by …

Posted in News | Also tagged and | 11 Comments
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