GaryC wrote:Not one of GB's finest moments but let's not forget that he has gone on record to admit his mistake.
"BBC Article: Gordon Brown admits 'big mistake' over banking crisis"
Thatcher and thatcherites on the other hand won't admit that her de-regulation of London's Banking System has played its part in the 2007 global financial crisis.
Except of course for Nigel Lawson, Thatcher's Chancellor at the time, appearing on the Analysis program in 2010, to discuss banking reform, explaining that the 2007global financial crisis was an unintended consequence of her de-regulation of the banks"
GaryC do you actually know anything at all about that de-regulation? From this clearly not. Quite frankly, to blame Mrs T who left office 17 years previously is, to put it as politely as possible, a joke. Remember, Mrs T said that banks 'are not ordinary businesses' she refused to reduce prudential regulation of the banks and it was that, done by Brown, which was at the heart of the banking crisis. She also was not the person who in government spent and borrowed irresponsibly or set an inflation target without regard to the levels of borrowing in the economy. What is more she established the first regulation of the retail financial services sector.
You quote Lawson but, in fact you also misrepresent what he said and the point he was making. Mrs T's reforms were extended by Brown beyond the point at which she was willing to go so, only in that context, in 'setting the scene' for Brown to screw things up was that quote correct.
Lawson himself, of course, was in dispute with Mrs T (and her adviser, Alan Waters) over EMU with Lawson insisting on shadowing the DMark in preparation to joining EMU. Eventually it was Major as Chancellor who forced her hand with the consequences we now all know about.