Who is to blame for the banking crisis?
There is much debate about where responsibility lies for the banking crisis, but until yesterday it had not occurred to be that it might be the fault of co-habiting couples. But then I read about the views of Tim Montgomerie at Conservative Home, who writes that:
“The proximate cause of the banking crisis was the increase in couple cohabitation and the banks supine acceptance of the government’s promotion of “every choice of lifestyle”. The banks lent money to couples who were unlikely to stick together.” – Nick Gulliford has posted the above thought on the thread below Michael Fallon’s indispensable Platform article. It’s a very uncomfortable thought but I bet Nick is partly right. All the stats point to much greater instability in cohabiting relationships. I’d certainly like to see the data.
If only more people were married we could have avoided the sub-prime crisis? I think not.