BBC 3 – It Could Happen Here!

Stacey Dooley has been examining Europe‘s hardest hit countries in her new series .  This very caring an understanding journalist has produced a thought-provoking documentary series and it was so painful tonight to see the young people in Japan suffering from our worldwide recession.

Personally my belief is that the If the world economy‘s decline has been the product of the banking industries non-regulation and over-specularising on assets – toxic sub-prime mortgages and investments that completely crippled the US financial market and loans and investment on future returns that never were – in short a complete future investment catastrophe – banks were proving loans for the future based on a boom that was short-lived. The collapse of Lehman brothers was just the start of a horrible web of greed to show a ‘Alice in wonderland’ boost in banking profits.

Investment banks and hedge fund managers were delighting themselves in complete illusion while no regulation existed. They should hang their heard in shame everytime someoner in Japan or Greece takes their own life.

But at least Bob Diamond of Barclay’s‘s has secured his £2 million handshake from Barclay’s before he left the trough.


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