Who deregulated the banks? Thatcher
Thatcher arguably increased state regulation of the banks. Even those who argue that she deregulated them would admit that she merely fiddled around the edges compared to Blair and Brown removing state control of the BofE and therefore any meaningful government control of all banks in the UK. To trot out ‘Thatcher deregulated the banks’ is a stunningly dishonest and misleading statement.
Why did UK banks need bailing out? Because of way they had been allowed to grow, and products they were allowed to sell after deregulation.
Yes. Because of the Blair and Brown deregulation of the BofE, not because of any Thatcher policy. If pre-‘97 banking regulations had remained in place the government would have had the power to regulate it really easily.
Where did the banking crisis start? The USA
And why were we so exposed to the fallout? Because ^^see above. Blair and Brown’s deregulation of the BofE had created a banking free for all without even the pretence of attempting to encourage a bit of restraint. Because is created the illusory debt based boom which allowed them to keep hold of power.
I’m surprised at you being supportive of the Blairite regime Boris. Surely Momentum HQ don’t approve of the government who declared ‘We’re really relaxed about people getting filthy rich.’