Banking de-regulation

[Poppy]

I'm having a 'heated debate' with people at work around banking de-regulation. They claim that Margaret Thatcher 'knew what banks were like' and put more regulation in place circa 1988. I on the other hand argue that the Financial Service Act (I think around 1984/85) was brought into being to de-regulate banks affording more freedom, boosting the economy etc. If anyone can give me any further information on this subject, I'd be grateful?

Thanks in advance, Posy.

[123everton]

http://www.globalrese...?context=va&aid=11950
The current problems stem more from America, check out the Segal Act of 1993 I think.

[David90]

The whole deregulation thing was ( I think ) started in the 1970's by an eminent American economist of whom Margaret Thatcher and other top Conservatives were devoted disciples. The idea was to minimse government intervention and let "free" markets including banks prevail. With disastrous consequences as we now know.

[Seafarer1966]

Yes David90 the Tories were keen on deregulating everything under Thatcher...buses....flogging council houses etc. The concept of Enterprise Zones was a Tory attempt at deregulating planning dept. control to allow business and industry to literally move in and start work. In reality the Enterprise Zone concept cost colossal amounts of taxpayers money. Each job created by this attempt at 'laissez-faire' economics was estimated to cost £46,000 of our money....and this was in the 80's (source: Roger Tym and Partners). I did my dissertation at university on this by the way.

The Conservatives would have us believe that it was a huge success....but it wasn't.

I was a poll tax rebel.....and I'm proud of it.....

It spelt the death knell for Margaret anyway.