Gordon Brown was warned in 1997 about the probable consequences of his moving bank supervision and regulation from the experts at the Bank of England to the Financial Services Authority

Peter Lilley, shadow Chancellor of the Exchequer [Official Report, 11 November 1997; Vol. 300, c. 731-32.]
“With the removal of banking control to the Financial Services Authority…it is difficult to see how and whether the Bank remains, as it surely must, responsible for ensuring the liquidity of the banking system and preventing systemic collapse.”
“The coverage of the FSA will be huge; its objectives will be many, and potentially in conflict with one another. The range of its activities will be so diverse that no one person in it will understand them all.”
“…that the Government may, almost casually, have bitten off more than they can chew. The process of setting up the FSA may cause regulators to take their eye off the ball, while spivs and crooks have a field day.”
[Official Report, 11 November 1997; Vol. 300, c. 731-32.]

Do you remember Peter Lilley? Peter Lilley was a former Conservative minister whose name was often followed by sniggers on BBC topical news quizes and the like. The BBC used their near monoploy position to destroy Peter Lilley along with the last Conservative government in order to usher in the brave new dawn of New Labour in 1997. The BBC's political coverage, from the moment Tony Blair formed his first government, was dismissive of any criticism especially from former ministers. The whole attitude was one of, you have lost the lection so please have the decency to shut-up and let the victors do as they like.

I wonder if now the BBC will note that in 1997 there were some voices warning that Gordon Brown was not the great genius that he and they claimed that he was and that some people saw that his 'I'm always right' attitude would lead to trouble.

Many thanks to OWS blog for the quote spot.