East End cash guru becomes TV face of credit crunch
PUBLISHED: 13:38 30 September 2008 | UPDATED: 13:39 05 October 2010
A BOW man who was a founding father of MP George Galloway s Respect party has become one of Britain s leading experts on the credit crunch. The friendly face of Graham Turner is being beamed almost daily into the country s living rooms as broadcasters
A BOW man who was a founding father of MP George Galloway's Respect party has become one of Britain's leading experts on the credit crunch.
The friendly face of Graham Turner is being beamed almost daily into the country's living rooms as broadcasters including the BBC's Newsnight and Sky News bid for his views.
Mr Turner, who lives in Coborn Road, Bow, where he runs his company GFC Economics, is the author of The Credit Crunch, which was published in June and which prompted one leading reviewer to write: "Graham Turner is a clear and independent voice in a confused and noisy world."
Although he has links to the Socialist Workers Party, Mr Turner, who with his wife Dr Jackie Turner donated £27,000 to Respect before falling out with Mr Galloway last year, is an advocate of Keynesian economics and wrote in the Guardian last week: "It is disturbing that so few of today's politicians or central bankers have digested the crucial economic lessons of the 1930s.
"John Maynard Keynes spent years railing against classical economists who resisted the case for lower interest rates.
"It was only when governments delivered deep rate cuts and drove down long-term borrowing costs that recovery took root. It was never a strong upswing: the policy was implemented too late. But it was critical in turning the tide.