Gordon Brown needs a history lesson

Alex Masterly gives him one:

"The facts are that nothing you have done so far has reversed the economic decline. The precedent in the 1930's is exactly the one you should be following. An over-extension of the banking system led to a general failure of banking and commerce, and was corrected by building up the banking system and keeping its business simple.

The two lessons of the twentieth century are that collective ownership leads to economic stagnation and that whenever regulated banks are allowed to trade with other people's money with low allocations of risk capital, central banks invariabl ends up bailing them out."

Read the rest of the article and someone send it to the great snot gobbler.