Tuesday, 30 September 2008

Demutualisation and the BBC

BBC Article

I once read a definition of propaganda as "long on emotion and short on fact".

This is despicable even from the BBC, they did mention what has really happened -

The reason the demutualised societies have gone has been due to investors having panic attacks, It has been a self-fulfilling, cataclysmic spiral into the abyss. "

The article uses highly emotional language and common phrases "all the rage" , "the dam burst"

As well as deliberately blaming the Conservatives while not mentioning the disgraceful way the Labour Party has confused the regulation of the city, the Basel 2 regulations and the slow reaction of the BoE to the crisis last summer.

The Credit Crunch has been described as a crisis of confidence. It is not, it is a crisis of government and regulation which has destroyed the confidence of the population in the banks.

No comments: