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MM debate: Pru says policymakers deserve more credit

Prudential director of investment John Betteridge believes policymakers have not been credited enough for their work during the current economic crisis.

Speaking at the Money Marketing RDR & Economic Update debate today, Betteridge said policymakers have acted decisively in this crisis in a well co-ordinated fashion.

He said: “It will take at least a year for these policies to start working so people should have a bit more patience.”

“We’ve been in major car crash and the patient is lying on the operating table crippled and now is not the time to talk about future road safety regulations, we’ve got to deal with the patient first.”

Speaking of his own investment decisions, he said: “We identified that credit markets were too expensive in 2007 and we tried to avoid it, we began selling commercial property in 2005 and we were also disinclined to invest in stuff we didn’t understand which I think is a good investment philosophy.”

The RDR debate day has been sponsored by Aegon , Prudential and Clerical Medical

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