The Liberal Democrats have accused Chancellor Alistair Darling of being complicit in irresponsible lending by using taxpayers' money to underwrite Northern Rock.
Responding to a statement given by the Chancellor yesterday, in which he said he would extend deposit guarantees to new accounts opened with Northern Rock, Liberal Democrat Shadow Chancellor, Vince Cable, said the Government’s attitude ‘reeks of complacency’. He says the Government’s reasons that the problem lies with turbulent international financial markets are not consistent with the fact savers in the US, France and Germany have not been queuing up to withdraw their savings. “There has been financial turbulence for most of the last century, so why is this the first time that we have s...
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