David Redshaw argues the 2007-08 crash was a rerun of 1990 with housing debt as a major factor, and that Blair and Brown failed to address the speculative weaknesses inherited from Thatcherism. He adds that Keynes and Roosevelt understood the need to put demand first, while today 40% of weekly salary can go to rent, suppressing the consumer market that businesses require. David Nowell notes that PFI deals under Brown used Enron-style accounting, and David Murray observes that New Labour's benefits and tax credits reduced pensioner and child poverty but did not address structural wealth inequality, which he calls a driver of poverty. The letter sets the 2007-08 crash alongside the 1990 downturn as the second major crisis Redshaw ties to housing debt and inequality within a 47-year supply-side orthodoxy.