Summary
It's back to the Seventies OIL prices soared, the Government called for 'responsible' pay settlements and the Bank of England tried to stave off a banking collapse. That was crisis-torn 1974, though you could be forgiven for mistaking it for last week. Even Seventies rockers Led Zeppelin are back.
In an eerie foretaste of today, the 'secondary banking' crisis of the mid Seventies ended a period of reckless lending fuelled by interest rates that had been kept too low for too long.See the full content of this document
Extract
It's Back to the Seventies
Because banks lend far m...
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