Originally Posted by MrPinkPanther
I don't deny that Thatcher did had what had to be done for the British economy (although her methods were heavy handed but lets not get into that) but the de-regulation of the City of London was a colossal mistake. People began to take bigger risks, endangering the whole economy. It led to the temporary "Lawson Boom" but as usual with artificial booms a bust followed which nearly destroyed Majors 1992 electoral campaign (which he had to borrow money to win by the way). The long term effects were even more disastrous, it allowed the build up of unregulated toxic assets so when the recession bit, Britain was affected more than various other worldwide economies and which is one of the primary reasons our banking sector nearly collapsed.