Thursday, March 19, 2009
Gordon Brown's role
The national auditor's scathing account of the nationalisation of Northern Rock will deal a heavy blow to his legacy as chancellor. Rather than dismissing the crisis as unprecedented and unforeseeable, the investigation makes the politically toxic suggestion that Mr Brown failed to fix a regulatory system that he was warned was flawed.
Philip Hammond, shadow chief secretary, said: "The Treasury that didn't ask about the size of Fred Goodwin's pension also clearly didn't ask to see Northern Rock's loan book or for them to stop lending 125 per cent mortgages - how could he have got it so wrong?"
IMO: Yes, and we all have thought Brown's public-private-partnership idea to be a bit nuts all along, e.g. as in Private Eye. Staffordshire a nasty but typical example. That all being said Brown was not as bad a chancellor than most of them of recent years, and he did have some ideas. IMO he can still put things back on track, but Labor is now getting old and weary, and Brown is too cautious for his own good. We need Vince Cable, some Libdem support and a partial Labor/Libdem coalition. Tories are far too passe, lets hope the voters work that out too.
The national auditor's scathing account of the nationalisation of Northern Rock will deal a heavy blow to his legacy as chancellor. Rather than dismissing the crisis as unprecedented and unforeseeable, the investigation makes the politically toxic suggestion that Mr Brown failed to fix a regulatory system that he was warned was flawed.
Philip Hammond, shadow chief secretary, said: "The Treasury that didn't ask about the size of Fred Goodwin's pension also clearly didn't ask to see Northern Rock's loan book or for them to stop lending 125 per cent mortgages - how could he have got it so wrong?"
IMO: Yes, and we all have thought Brown's public-private-partnership idea to be a bit nuts all along, e.g. as in Private Eye. Staffordshire a nasty but typical example. That all being said Brown was not as bad a chancellor than most of them of recent years, and he did have some ideas. IMO he can still put things back on track, but Labor is now getting old and weary, and Brown is too cautious for his own good. We need Vince Cable, some Libdem support and a partial Labor/Libdem coalition. Tories are far too passe, lets hope the voters work that out too.
# posted by uv : 8:32 PM
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