From: "PETER MANDELSON" To: "jeevacation®gmail.com" <jeevacation®gmail.com> Subject: Fw: Re: please protect Date: Mon, 01 Mar 2010 07:52:18 +0000 And yes, again, I did write this myself - - On Mon, 1/3/10, PETER MANDELSON S. wrote: From: PETER MANDELSON < Sub'ect: Re: please protect To: Date: Monday, I March, 2010, 7:50 Regulatory uncertainty is a factor now in my view but the bigger point is what happens when demand for credit picks up. At the moment, low demand is shielding supply side constraints and as demand strengthens (hopefully) during course of this year, supply issues will be exposed. My fear based on discussion in London and on continent (Paris and Frankfurt) is that need to repair balance sheets plus pressure on balance sheets from regulatory requirements will have adverse supply effect. Gordon/Labour's position strengthening over last two months because of growing doubts about Cameron/Conservatives and because the more Brown is attacked the better he seems to come out of it. There is a long way to go yet, tho.... On intl co-operation, I have to say that since G20 in London, it has been downhill. The President appears in Europe and Beijing and elsewhere to be failing to give international leadership (sorry to be frank) and given the huge expectations of him, this is creating real disappointment. There is a sense that he does not yet feel inclined to use US power in the world or with others, Afghanistan being an exception (eventually). Peter - - On Mon, 1/3/10, From: Sub'ect: Re: please protect To: Date: Monday, I March, 2010, 0:08 thanks this is helpful and I will protect. > wrote: I can see greek solution along guarantee lines you suggest but I'd guess speculators will move on and trick will be harder to replicate—also I worry about next round on greece. do people really believe regulatory uncertainty is major factor holding back banklending rather than lack of demand and banks own doubts about their position? take poi