Browns affair with Greenspan exposed

Not able to think for himself, Gordon fell under the influence of the most discreditable financial theorist in the World.

By doing so he ruined the British economy.

Thank You for voting Labour

Amplify’d from www.telegraph.co.uk

Gordon Brown: I made a big mistake on banks

In a candid admission Gordon Brown said it had been a mistake to leave bank regulation in the hands of the FSA

In his first clear admission of some responsibility for the financial crisis, the former prime minister claimed he had not understood how “entangled” the world’s financial institutions had become.

They come as the Treasury prepares to receive a review into how Britain’s banks should operate in the future. The Independent Commission on Banking (ICB), led by Sir John Vickers, is expected to recommend significant reforms to make it less likely that banks take unnecessary risks and to encourage greater competition.

Mr Brown, who has been criticised for no longer attending the Commons to take part in economic debates, made his remarks while addressing a conference in Bretton Woods, New Hampshire, at the weekend. It was the first time he had commented explicitly on the system of regulation that he masterminded during Labour’s first term in power.

He focused on the Financial Services Authority (FSA), which he established in a surprise move on his first day as chancellor in 1997. It was widely criticised during the financial crisis for failing to predict and manage the turmoil. Read more at www.telegraph.co.uk

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