Sajid Javid: “Leave Our Helicopters Alone!”

 

Chancellor Sajid Javid let his personal hysteresis get the better of him earlier this week, during a series of TV and radio interviews.

 

Most eye-catchingly, he claimed on Sky News that homelessness had peaked in 2008 under Labour and had since come down by half. Of course, as some (though only some) in our broken Fourth Estate pointed out, homelessness, which had steadily declined from 2004, was at around 41,000 in 2010; today, it is estimated to be around 84,700.(1)

 

Earlier in the day, on Radio 4, he gave a particularly desperate performance, claiming a Labour government would be the worst thing to have ever happened to this country. This was evidenced, in part, by his claim that the last Labour government had caused the 2008 Great Recession (a claim most, even within his own party, have given up on). The Irony of all this, of course, is that Mr Javid himself, while at Deutsche Bank, used to sell collateralised debt obligation (CDOs). For those of you who don’t know what a CDO is, I have attached a very useful clip explaining them below. Needless to say, they go a fair bit further in explaining the cause of the global economic crash than “Labour did it”. Enjoy:

 

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