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Proceeding contribution from Frank Dobson (Labour) in the House of Commons on Tuesday, 19 February 2008. It occurred during Debate on bill and Committee of the Whole House (HC) on Banking (Special Provisions) Bill.


Banking (Special Provisions) Bill

No, I shall not. Who else's concern should we fear, according to the Tories? Should we fear the concern of the bond credit rating companies—including Standard and Poor's, which gave triple-A ratings to sub-prime borrowing? The agency has been quoted with approbation by Tory Front Benchers this very day. Perhaps we should fear the concern of monoline insurers in the United States. Their normal business is, apparently, bordering on collapse because they have been insuring speculators who got their speculations wrong. I have been talking about all the people who were apparently very concerned and bothered about the state of the British financial services industry—entirely as a result of the Government's action. I should like to ask the hon. Member for Tatton (Mr. Osborne), who clearly does not like the truth, a question. When he and his mates were in Davos, were they sticking up for Britain on this issue, or were they talking Britain down? That is what they do most of the time on radio and television these days.


Secondary information

Type
Proceeding contribution
Reference
472 c209-10 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Compensation Accountability Audit Banks Competition Building societies Bank of England Liability EU law Government assistance Financial Services Authority Economic situation Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Regulation Stocks and shares Shareholders Takeovers Treasury Virgin Group Business plans Northern Rock Granite Sunset clauses
Legislation
Banking (Special Provisions) Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk