The US and UK both allowed or encouraged excess credit up to 2007. Both slammed on the brakes too abruptly in 2007-8 and failed to see the impact of their actions on the general economy and the solvency of the banks. Thereafter, they diverged. The US offered short term financial help, and has now succeeded [...]
About John Redwood
John Redwood has been the Member of Parliament for Wokingham since 1987. First attending Kent College, Canterbury, he graduated from Magdalen College, and has a DPhil from All Souls, Oxford. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.
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