Peter's friend

Dominic Prince (Letter From the City, 23 February) had much sympathy for his friend Peter. I'm afraid I don't. His friend had overstretched himself in purchasing five large houses in Kensington (further exaggerating the London house-price bubble) and was now suffering financially as a result.

Surely this is a simple case of greed? Labour should have done more to bring to heel this calamitous tendency unleashed by four terms of Tory government. Peter brought his own misery upon himself; many people are enduring hard times through no fault of their own but because of Peter and others like him.

Michael Haskell

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This article first appeared in the 02 March 2009 issue of the New Statesman, Thatcher: 30 years on, the final verdict