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I have (I believe) corrected this article's reference to Tim Congdon's Financial Times (FT) comment on the UK Government's intervention in Northern Rock. It previously stated that Congdon had argued that the intervention was making money for the government. But if you read his piece carefully, I think you will see that he was in fact saying that it had a decent chance of making money for the Government in the future. It is true that the headline to the article says "is making", but my experience has been that newspaper editors feel free to place whatever headline they choose on an author's article, implying that the FT should be held responsible for the (misleading) headline, not Congdon. Nandt1 (talk) 12:46, 25 October 2011 (UTC)[reply]
This does not alter the fact that Professor Congdon, for years, encouraged people to invest in Northern Rock - a fundamentally unsound business. Nor has Professor Congdon changed his opinions - he continues to support credit bubble finance. Indeed the bigger bankers (and others) expand the credit bubble the more he claims their "productivity" has gone up. Professor Congdon appears to be totally unaware that to expand lending (or other financial dealing) beyond real savings, is to create a credit bubble. There should be some sort of indication in the article that Professor Congdon supported the monetary policy (the credit money expansion) that led to the 2008 crises - and has not changed his opinions even now, as we head to a new crises.176.252.83.0 (talk) 08:09, 17 April 2015 (UTC)[reply]
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