Face it .... by dragging Howard into a discussion on the worldwide credit crisis all you have doen is show your political bias, and derailed what was shaping up to be an interesting thread.
You have also avoided the key issue raised by diligent's post, which was, who do you blame for the greed, corruption and corporate irresponsibility that existed in the lead-up to the '87 crash?
Were you around in the "greed is good" days of Hawke and Keating? Do the names Spalvins, Holmes a Court, Skase, Bond and Herscu et al ring a bell? These guys flourished under Hawke and Keating!!!
Then after the '87 crash we watched as Keating gave us 18% interest rates and the "recession we had to have", which has to be one of the dumbest statements ever made by a treasurer.
So while we had “the recession we had to have”, world stock markets quickly recovered, while ours languished for the next 5 years. During this period, this arrogant socialist strode around in his $2,000 Italian suits, incapable to taking any responsibility for his blunders.
Face it Larry ….from start to finish, Hawke and Keating presided over, and facilitated the corporate greed and corruption that existed prior to the ’87 crash,!!! Or is it possible that your socialist leanings prevent you from seeing this?
