Michael Ashcroft

If someone asked, 'Would you prefer to be thought of as St. Michael as opposed to the devil,' I might say St. Michael. But that choice is not really there, because you are in an environment in which you have natural predators and enemies.

While loyalists and defectors overall said John Smith did a better job of standing up for Labour's values, they put Blair ahead on representing the whole country, appealing beyond traditional Labour voters and offering strong, competent leadership; switchers to the Tories gave him a clear lead in all categories.

Leverage is great when it works, and when it doesn't work, it creates a lot of issues. So I think if you limit the amount of leverage that people can borrow, or that banks can borrow, I think you'll find that you'll have a lot less issues going forward.