"[O]ver the past few years the government of Britain removed from the Bank of England most of its supervisory authorities. When the crisis hit - for example when the Northern Rock bank came under stress - the Bank of England was completely in the dark and unable to deal effectively with what turned out to be a destructive run and a major problem for the British economy."
Can't see this quote anywhere on the BBC, how odd; it's almost as though they are trying to protect Gordon Brown and what's left of his reputation.
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