When considering the causes of the financial crash in America, most sensible commentators point to the quasi-governmental 'building societies', Fanny Mae and Freddy Mac, who followed the precepts of their political masters and lent eye-wateringly huge amounts of money to zillions of people who would never qualify for a mortgage in the open market to enable them to buy a house. You do not need to be an expert in high finance to see instantly that disaster would follow as sure as night follows day. The only people not to see it were the influential Left-wing, Democrat pols who urged it on.
As so often, where America leads we follow blindly after and so now we have a couple of (allegedly) Right-wing pols, Cameron and Osborne, deluding themselves that it is their duty to interfere in a free market because a) they know best and b) they need the votes! So, they are using government money,that is, my money and your money, and have opened a brand new mortgage brokerage for people who, er, cannot afford a mortgage - by Jove, old boy, what a spiffing idea! Of course, they think they are onto a winner because this is likely to raise house prices so their gamble (with our money) is a safe bet. Unfortunately, their housing minister has just been caught out telling building contractors that restrictions on house building in country areas is to be lifted so they can concrete over "our green and pleasant land" as fast as they like. That, of course, will drive house prices down.
It's called 'joined up government' - and will someone please pass me a sickbag - fast!
