Observer columnist Damien McCrystal has hit out at Council of Mortgage Lenders director-general Michael Coogan.
He points out that Coogan’s call for the Government to raise interest rates in order to calm the housing market is both “fatuous” and “cynical” as mortgage lending policies are more to blame for the housing boom than base interest rates.
McCrystal also quotes a number of occasions when Coogan’s statements on the housing market have been proven absolutely wrong within months.
Observer Business 14/07/02 page 6
