Thursday, 18 September 2008

Brown pledge to 'clean up' City

The BBC "report" that
"Gordon Brown has pledged to "clean-up" the financial system following the rescue of Britain's biggest mortgage lender HBOS by Lloyds TSB.

The prime minister said he had taken "quick action" to "maintain the stability of the financial system".

But he said he also had proposals to end "irresponsible behaviour" in the money markets to prevent similar problems happening in the future."
Just remind me which incompetent was Chancellor of the Exchequer from 1997 to 2007 and Prime Minister with a puppet Chancellor since then. Was it by any chance Gordon Brown, the fool who set-up the flawed tripartite regulatory system in the first place, the idiot who encouraged the reliance on debt by individuals, companies and government by his policies?

Gordon Brown didn't care about debt or "irresponsible behaviour" so long as the tax take from indirect taxation on increased spending and transaction taxes on ever increasing house prices kept rising. Also ever increasing house prices meant that the middle class felt prosperous enough to ignore the ruination of the country and give Labour a freer hand than they deserved. Now the chickens have come (to the falling in value) home to roost and Gordon Brown and his government are suffering the justifiable backlash.

I don't suppose that the BBC will be raising this inconsistency with Gordon "getting on with my job" Brown.

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