The sins of our fathers

The sins of our fathers

Karl Deeter: Refusing to deal with the mortgage arrears problem earlier comes with consequences

In hindsight, it would be difficult to imagine having done a worse job of it. I am referring to the financial crisis, in particular the elements of it relating to mortgages from both a regulatory and oversight point of view.

The first big error was a ban on repossessions five years ago – we took on this idea, via the now departed financial regulator Matthew Elderfield.

It was imported from Hungary where upon inspection it was...

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