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Gordon Brown: "not me Guv, I wouldn't change a thing"
Comments
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I'ld be interested to see references to threads of a year or two ago calling for substantial increases in interest rates or a return to quantitive controls on bank lending (like before the deregularation of the 80s).
And it seems only yesterday the conservative shadow chancellor was calling for further deregulation of the financial markets (although he's been a bit quiet about that recently).
Brown clearly got in wrong but he clearly had lots of company.
Yes Brown had lots of company with the notable exception of Vince Cable but the point is that even in retrospect the gov't doesn't appear to recognise its mistakes.0 -
chewmylegoff wrote: »
Bloody hell - that is scary. The short-term stuff most of all.
No wonder they are trying to get those printing presses spun up as quickly as possible teling whatever lies are necessary to justify it and the only surprise is that Sterling hasn't crashed even more than it has. Still, plenty of time for that......--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
chewmylegoff wrote: »
I find it amazing that people can still defend Gordon Brown and his bunch of sycophants
They just make me cringe when I see them on TV refusing to take any responsibility for their actions."The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."
Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)0 -
I find it amazing that people can still defend Gordon Brown and his bunch of sycophants
They just make me cringe when I see them on TV refusing to take any responsibility for their actions.
Evidently some people defend him because they don't believe he's done much wrong. You know, the sort of people that have consistent opinions, not the kind of people who scream about the Government intervening in people's and businesses' lives, who then turn around with self-righteous outrage at the fact that the Government didn't barge in 4 or 5 years ago and tell the banks what do to with their money, who to lend it to and how much to lend.
Hindsight is a brilliant thing, isn't it. What would have been completely ridiculous, unfeasible, and in fact incredibly unpopular at the time, is apparently what Brown should have done all along - and didn't all you clever people know it all along!0 -
Evidently some people defend him because they don't believe he's done much wrong. You know, the sort of people that have consistent opinions, not the kind of people who scream about the Government intervening in people's and businesses' lives, who then turn around with self-righteous outrage at the fact that the Government didn't barge in 4 or 5 years ago and tell the banks what do to with their money, who to lend it to and how much to lend.
Hindsight is a brilliant thing, isn't it. What would have been completely ridiculous, unfeasible, and in fact incredibly unpopular at the time, is apparently what Brown should have done all along - and didn't all you clever people know it all along!
In 1997 Gordon decided to scrap the tax relief on hard working families private pension schemes and in doing so virtually destroyed the future pensions of many.
That was when I realised that hard working families who save was not a Gordon Brown priority"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."
Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)0 -
In 1997 Gordon decided to scrap the tax relief on hard working families private pension schemes and in doing so virtually destroyed the future pensions of many.
That was when I realised that hard working families who save was not a Gordon Brown priority
What?? How is that in any way a reply to what I just said? Why did you even bother quoting me??0 -
Evidently some people defend him because they don't believe he's done much wrong. You know, the sort of people that have consistent opinions, not the kind of people who scream about the Government intervening in people's and businesses' lives, who then turn around with self-righteous outrage at the fact that the Government didn't barge in 4 or 5 years ago and tell the banks what do to with their money, who to lend it to and how much to lend.
Hindsight is a brilliant thing, isn't it. What would have been completely ridiculous, unfeasible, and in fact incredibly unpopular at the time, is apparently what Brown should have done all along - and didn't all you clever people know it all along!
"Ridiculous, unfeasible, and in fact incredibly unpopular at the time" yes but that would also have applied to the banks which he is happy to blame. The fact of the matter is that, in view the economic disaster which could well get worse, much worse, something should have been done by gov't and fair or not fair the gov't must bear some of the responsibility, not pronounce that they did nothing wrong or couldn't have done otherwise. The gov't is now saying that more regulation of banks is required, it follows in view of the disasterous crash we are in that the regulation should have been in place before the crash.0 -
Evidently some people defend him because they don't believe he's done much wrong. You know, the sort of people that have consistent opinions, not the kind of people who scream about the Government intervening in people's and businesses' lives, who then turn around with self-righteous outrage at the fact that the Government didn't barge in 4 or 5 years ago and tell the banks what do to with their money, who to lend it to and how much to lend.
Hindsight is a brilliant thing, isn't it. What would have been completely ridiculous, unfeasible, and in fact incredibly unpopular at the time, is apparently what Brown should have done all along - and didn't all you clever people know it all along!
Spot on, oh for honest free marketeers.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
"Ridiculous, unfeasible, and in fact incredibly unpopular at the time" yes but that would also have applied to the banks which he is happy to blame. The fact of the matter is that, in view the economic disaster which could well get worse, much worse, something should have been done by gov't and fair or not fair the gov't must bear some of the responsibility, not pronounce that they did nothing wrong or couldn't have done otherwise. The gov't is now saying that more regulation of banks is required, it follows in view of the disasterous crash we are in that the regulation should have been in place before the crash.
Yes, but regulation is one thing; basically taking control of the banking sector's credit distribution, which is what people are now advocating, is another matter entirely.
I agree that banks should probably have been slightly more regulated - but if Brown had announced he was taking control of banks in such a way, there would probably have been a city-worker led coup in Whitehall.
Oh, and for the record, John Redwood (Conservative MP and leader of some review group for economic competitiveness) argued about 18 months ago that regulation was choking the industry. Hasn't his opinion been smothered now!0
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