Letter from Parliament - Paul Rowen MP
The big news this week both nationally and internationally has been the failure of another large American bank and the effect that has had on the financial markets. It affects all of us not just because of the job losses but the knock on in terms of getting mortgages and people's pension schemes. Many pension funds here and elsewhere invest in these banks. Vince Cable MP, our Treasury Spokesperson, has been warning for years that the credit bubble cannot last and will ultimately come to grief - how right he has been proved!
16 Sep 2008
