The Bank of England did not understand the severity of economic problems before the current financial crisis, its deputy governor says.
Sir John Gieve told the BBC that the Bank knew "crazy borrowing" was taking place and the price of houses and other assets was rising unsustainably. More ....
http://news.bbc.co.uk/2/hi/business/7794604.stm
Are they saying ... "We thought it was a bit strange that we were getting millions of pounds in bonuses while all you poor suckers out there were getting into impossible debt, but we thought, well, perhaps it will all go away ... maybe ..." ???
A lot of the poor suckers my friends apparently saw the problem coming long before Sir John and his greedy cronies. How do these idiots get knighthoods? From other idiots I suppose!!
la_spice
And they're supposed to be looking after my meagre pittance
I knew I should have kept it under my mattress!