Shifting the blame

The BBC eagerly report Lord Myners words in his Times interview that:

"Let us be quite clear: there has been mismanagement of our banks."

The BBC also paraphrase in their first sentence to give us:

"Banks and their "grossly over-rewarded" executives are partly to blame for causing the economic recession, a government minister has said."

Can Lord Myners or the BBC tell us who else "are partly to blame"? Obviously the Americans must top the list but do they think any blame devolves upon their Prime Minister? Gordon Brown having replaced the centralised control of City regulation with a tripartite system that let too much fall between the three parties. Gordon Brown who changed the inflation measure so as to keep the boom going so as to keep the middle classes feeling rich enough to ignore the changes in the Country that they otherwise would have railed against. Gordon Brown having stoked the fires of this bubble without any regard as to the risks. Does Gordon Brown share any of the blame? Well Minister, well BBC?

Guido Fawkes has some of the background that I am sure you know about Lord Paul Myners.


This attack on the banks follows Gordon Brown's earlier in the week and is about establishing the "narrative" that "greedy bankers" were the people responsible for the UK's problem , not the brave, resourceful, honest Prime Minister. It is rubbish of course but that won't stop the Labour propaganda machine rolling this out and there are enough people in this Country who will fall for it.