Thursday, 26 February 2009

Lord Turner at the Treasury Select Committee

I blogged yesterday that the BBC seemed somewhat shy of laying all the blame on Gordon Brown. The Mail, formerly big fans of the Great Clunking Idiot, are less circumspect:
" Gordon Brown helped fuel Britain's banking crisis by pressuring City watchdogs into 'light-touch regulation', MPs were told today.

In damning evidence to the Treasury select committee, Financial Services Authority chairman Lord Turner said there was clear 'political' pressure not to question the business models of banks such as Northern Rock, HBOS and Bradford and Bingley.

The phrase 'light-touch regulation' was one often used by Mr Brown when chancellor and his then City minister Ed Balls. "

When the day of reckoning arrives I trust Gordon Brown will be made to pay for the almighty mess he has made of this Country.

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