Phil Briscoe - on the credit crunch

It was the high street banks and building societies which gambled deposits on risky lending, yet they are bailed out.

Crucially, the credit crunch is about more than a few high-paid bankers.

Those who drove the worst decisions for the largest bonuses have amazingly kept their jobs, but hopefully they will be found out, like the appropriation of $8billion by Lehman US that drove the London office out of business.

But there are many thousands of Wharf workers who are not paid millions and are simply working to survive, just as in a school or hospital.

My feel-good factor, like many others, has taken a battering recently. Rocketing energy prices, rising food prices, friends and family losing holidays in the XL collapse, our own wedding presents lost in the Wrapit collapse.

Fortunately for us, the bankruptcy of our florist and dress supplier came after the wedding.

As my wife Shirley sits in turmoil, wondering if she has a job or will even be paid for work done at Lehman, it is clear everyone is suffering.

Heading to Birmingham for the Conservative Conference, there is only one issue on the agenda – as Clinton said in 1992: “It’s the economy, stupid.�