It is funny how Scottish banks were the most reckless lenders during the bubble. The Bank of Scotland, RBS, and the Dunfermline have all gone down in flames since August 2007. Yet the housing bubble in Scotland was a rather muted affair. The House price to earnings ratio was consistently lower than the UK average.
It must have been a Scottish plot to undermine England. Remind me again, where do Brown and Darling come from? What about Blair? Isn't he a Scot masquerading as an Englishman? Perhaps I live too far south.
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