The post you are reporting:
I think there is a kind of blindness Paul(W).
The Labour party are in denial and so are all their supporters; the banks could only make loans/mortgages to the limit of the regulations that controlled them.
By changing the regulations shortly after they came to power in 1997, banks started to lend money in the form of mortgages, to people who would be over 100 when they paid them off, also to people who simply couldn't afford to pay them back and after just a short time and a slight change in the economy, they were in negative equity.
These bad debts were sold abroad - to the USA I believe, so, mixed with Bill Clinton's ideas, caused the economy to go belly-up.
Selling gold at an all-time low, not paying our debt back in the good times, but borrowing more and more, meant that when the bad times came, as they were so obviously golng to, we were already stretched.
But of course, none of this was Labour's fault.
Roger