Interim report on the Banks

Well some of us, and most of the media seem to like 'bank bashing' so I just print a copy of a post I saw on another forum:-

"They seem to be side-stepping the real issues here which caused this crisis and that was abandoning old-fashioned rules that worked for decades if not Centuries.
e.g. Lending money on property based on sensible income multiples (ie. 3-4 times salaries), deposits on property purchases, and proper Regulation of these rules.Those Rules were all thrown out of the window during New Labours property boom and we all knew it was happening. How many people were prosecuted for lying on their Mortgage Applications?

A: NONE - that I know of.

Simply buckpassing the whole shebang on the Banks is indeed very convenient"

And dear old Gordon B has now admitted (On a speaking tour of the USA mind you) that he got it all wrong, well done Gordon, half the country knew that anyway, pity it has taken you so long to admit it