• The post you are reporting:
   
  Reg - #39, come off it. You really are living in a dream world if you believe that.
  
  The banks were not responsible for any of the following:
  ... Brown's profligate spending over 9 of the 13 years they were in power leading to a structural deficit spend from 2005 - the main and direct cause of the need for spending cuts.
  ... Setting the inflation brief for the Bank of England that led to interest rates being held down lower for longer than they should have done causing the housing and debt bubble.
  ... Changing banking regulation and in so doing reduced the level of oversight and, Brown himself, encouraging the banks to expand in the USA and elsewhere exposing them to massive credit risk. May I remind you that not all banks did what Brown urged and those did not, did not need a bail-out, except LLoyds who again on Brown's urging took over HBOS exposing themselves to that risk resulting in their bail-out.
  ... De-incentivising the savings market that has been a disaster for people combined with low interest rates it made the public more vulnerable in the downturn with higher borrowing.
  ... Robbing pension funds of £5bn a year and as a result encouraging more Buy to Let investing adding further pressure to the housing bubble.
  
  I could go on further with this list of Brown cock-ups, gold etc...
  
  The simple fact is that Gordon Brown was a disaster for the UK economy. The man claimed he had banned boom and bust (a bit like Canute claiming he could stop the tide from coming in) - the result, he ran the economy as if he really had and now we are paying for his errors.
  
  Take off your blinkers Reg - your loyalty to the Labour brand is admirable, or at least it would be if you actually acknowledged the problems caused by Brown and tried to answer the specifics. For Labour to even be able to start to re-build credibility they must acknowledge their errors.

Report Post

Your Name

Reason