Darling 'may strip Bank of powers'

MissMoneypenny

Looks like Crash Gordon is having a temper tantrum

"Chancellor Alistair Darling could strip the Bank of England of key powers amid a spat with governor Mervyn King.


The Financial Services Authority (FSA) is reportedly set to be given responsibility for maintaining "financial stability" as part of regulation reforms"


"Mr King embarrassed the Government this week by telling MPs he wanted to see tougher action to cut "extraordinary" levels of borrowing.


He also warned that prospects for economic recovery were "more uncertain than ever", despite increasingly optimistic statements from ministers.


Earlier this month, at an extraordinary Mansion House dinner, the Chancellor and the governor set out markedly different positions on regulation and the handling of public debt."

http://news.uk.msn.com/uk/article.aspx?cp-documentid=148212956

Graham_Devon

If Mervin King tells Alistair he can't do what he wants to do, thats it, Brown will force Alistair to strip the bank of their powers.

Be under no illusion that Alistair is pulling the strings.

Brown has set himself up by telling the nation his cuts are actually rises. Now the Bank has embarrased him too, he will make sure he get's his own way, regardless of the cost to the nation.

nearlynew

Graham_Devon wrote: »

...............
Be under no illusion that Alistair is pulling the strings.................

Is this meant to be a joke?

Graham_Devon

nearlynew wrote: »

Is this meant to be a joke?

Was it remotely funny?

nearlynew

Graham_Devon wrote: »

Was it remotely funny?

It is if you actually believe that a transient minister of a weak and incompetent government can overhaul a 300 year old system.

Just to be clear..............

If you think the government tells the central bank what to do, you have got things the wrong way around.

Wookster

If extraordinary that this spat has become so public.

That clich! of washing dirty linen in public should really be heeded by both King and Darling.

For the sake of the economy.

amcluesent

Just another example of Clown systematically wrecking England's institutions before he and everyone in the 'big tent' is thrown out of office.

A 'scorched earth' policy is in full swing so that the Tories inherit a smoking ruin of an economy, allowing the shameless leftoids to cry their crocodile tears about the wickedness of the 'cuts' and fate of 'the poor'.

nearlynew

And the same old debt- based money system still in place.

treliac

MissMoneypenny wrote: »

the Chancellor and the governor set out markedly different positions on regulation and the handling of public debt."

Guess that's hardly a surprise. No-one with their head screwed on would agree with the direction this govt is taking us.

What a pity there's nowhere to vote for those who believe in socialist principles.

Generali

treliac wrote: »

What a pity there's nowhere to vote for those who believe in socialist principles.

There's the Socialist Labour Party. The country would be utterly ruined within a decade if they ever get in.

All the main parties are socialist to some extent - they all believe in redistribution of wealth and income, welfare state, state provision of services, state interference in business etc

Wookster

Generali wrote: »

All the main parties are socialist to some extent - they all believe in redistribution of wealth and income, welfare state, state provision of services, state interference in business etc

Is that entirely bad?

Surely you agree that everyone deserves a fair chance to improve their lot in life and that redistribution of wealth (through progressive taxes) for the provision of education (for example) is the best way to do this.

We have seen what capitalism does in the US... 45M without health insurance. Hardly an example of a model to be followed.