YOUR LETTERS

IN reply to Andrew Ferguson's highly unoriginal diatribe (Sunday October 26) blaming Bill Clinton for the crisis, it amazes me how the right wing go to such lengths to discredit the center and left. As a matter of record please note that Freddie Mac and Fannie Mae started their irresponsible lending policy in late 2002/3, long after Bill Clinton had left the White House. If you dispute this check out the New York Times, Paul Krugman (winner of Nobel prize for economics) which has several articles about this scurrilous piece of scam. Just like the stories about defacing of the White House before the handover to George Bush, utter garbage.

Some of us could see this coming (The crash) ages ago, it was the timing that was in doubt. This is not the first crisis brought on us by the banking community even in my life time. They don't need politicians to help them, they are quite stupid enough on their own.

Dermot Bremner MSC

Economist

Dear Sir,

“At the moment, the owners of 133 apartments and 120 homes in the Balearics are facing fines” I looked at the article in disbelief. I've written in this newspaper before about this. It's obvious that there is not much grey matter between the ears of the people in charge there. No surprise on that one!! On the one hand I read that tourism needs to be encouraged and then I read this rubbish. Does the Government think that somehow there is a shortage of apartments to find to rent in Europe? I'll say this again, if people holiday in an apartment they will be using all the local facilities which would appear is needed for the economy. Or do the Government want everyone to stay in the “all inclusive” option.

To take another point, who now would want to buy an apartment as a holiday home. One of the points pushed on UK television is about the “rental potential.” Not on backward thinking Majorca it isn't.

An absolutely superb island let down by a bunch of half wits.

Stuart Allsop (UK)