Chancellor calls top of debt bubble

Ah, the delicious irony and hypocrisy of it all.

The Badger has told banks to start lending more cautiously, and borrowers to think harder about what they can afford to repay.

The words "IT'S A BIT LATE NOW, MATE!!" spring to mind*.

The Badger "made no suggestion government would intervene with tighter regulation of lending". Golden rule - if a politician denies that something is going to happen, then it's probably going to happen.

Full Daily Telegraph interview here.

*The collapse of Northern Rock a day or two later sort of makes this all a bit 11th hour, surely he must have known about it, horses, bolts, stable-doors and all that?