The post you are reporting:
In other words, Gordon Brown said: "right lads, you're sage enough to run banks without Government regulation, to manage the saved money that individuals and businesses have worked for, we trust you to do a good job without State regulation, so get on with it".,
The bankers got on with it, and within a short time drove the banks into massive bankruptcy.
Then the bankers cried to the State: "we're bankrupt, come and bail us out, we HAVE NO MONEY LEFT,,,"
Had the banks been left to run the course of self-regulating free economy, they'd have gone into bankruptcy, and millions of individuals and businesses would have gone bankrupt with them.
But the State HAD to intervene with bailouts, to prevent almost everyone loosing their savings and the economy collapsing overnight.
So quite clearly, the banks are NOT - and CAN NOT be - self-regulating, else they'd have already closed the economy down, in Britain, and in many another country.
So Gordon Brown's mistake lies in having trusted these bankers to be wise people capable of doing a good and honest job with the economy's money. However, the political spin will put the blame on Brown, not the reckless and greedy bankers.
