Posted by: John | October 25, 2008

Vince bets on the horses…..

To be precise used the analogy, at the NW Regional Conference, to give the analogy of the sub-prime disaster: Imagine the Grand National, an hour before it starts thousands of people put bets on a 100-1 shot. The outside chance wins! The bookies don’t have enough to pay out so they turn to their insurers who don’t either. They then turn to the people that insure them and so on until the whole thing collapses.

To be honest I came away even gloomier than when i went in – not because I didn’t believe Vince but because I’m sure he was holding back on some of the even nastier stuff that might happen.

On a lighter note I loved his cartoon suggestion of on one side Osborne and a yacht – the other the Lib Dems in a steady boat with the theme of trust.

He also mentioned that local Councils can have their own ideas – the Lib Dems of course have their own plan IN BRIGHT LIGHTS ON THE FRONT OF OUR WEBSITE – hurrah!


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