Bought But Not Paid For

"Consumers need to be aware that the mortgages they enjoyed before the credit crunch were priced at unsustainable levels.

"That is why we have had a credit crunch. It is sensible for people to expect that things will not get back to where they were - that would not be desirable." (a senior financial adviser to the Treasury, quoted in the Telegraph).

Are the Labour regime and their apparatchiks so stupid they believe the electorate voted for Blair in 2005 for anything, anything at all other than cheap credit, fake jobs in the public sector, unaffordable mass benefits, and the chance to risk a little moral hazard for themselves?

When people sell their souls they expect the return in this life, not the next; Labour had better find a way to meet our debts, and quickly.