Mark,(posted 7531 days ago)I found the quote in the Hansard Debate October 2001.
The quote wasnt at this time made by the PM (in 1987)but was quoted by MP Brent Gardener in his opening about consumer credit
'Mr. Barry Gardiner (Brent, North): In securing this debate, my original intention was to examine the words of a young Back Bencher who, in 1987, was discussing that part of the consumer credit industry referred to as "sub-prime". He said:
"I think you need some measure of control and regulation to ensure that the unscrupulous aren't lending to the desperate when there's no possibility of repayment."
The young Back Bencher in question is now the Prime Minister. '
The full link to the debate which spoke of CMC etc is http://www.parliament.the-stationery- office.co.uk/pa/cm200102/cmhansrd/vo011016/halltext/11016h05.htm
and the above quoted is the first paragraph.
I will do some 'checking out' and source where and surrounding what circumstances TB actually said it - yes it is a 'useful' quote for a web site :-)
What about a flash animation of it :-)
I can't help but think that the government does not want to rock the applecart too much with the financial industry, afterall the industry is propping up our economy. - but I must say TB has done more to open all this up than the last government ever did thats for sure!