Gordon Brown - incompetent or a liar?

On the Jeremy Vine show yesterday Gordon Brown said

"The credit crunch started in America and has been a problem…I’m angry about what I saw happen in America - really angry - because these were risks that people were taking that we knew nothing about and they have affected everybody across the world."

Now let's examine that statement... Is Gordon Brown really claiming that he didn't know of the risks that people were taking in the US and the UK. I presume he is referring to the over-lending by banks and the over-borrowing by mortgagees, both without due regard to risk and realistic repayment.

Here is a list of articles and printed letters from 2007, including those from the Wall Street Journal, the Financial Times, Bloomberg.com, Testimony before the House Financial Services Committee and others.

Is Gordon Brown saying that he didn't adequately read up on his brief as Chancellor of the Exchequer and then First Lord of the Treasury, or is he lying when he says that he "knew nothing about" the risks being taken? Which is it Gordon, or do you actually think that you can have it both ways?