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Gordon Brown Ignored A Stark Warning That "toxic" Bank Loans Could Lead To Global Financial Collapse, A Leading Us Hedge Fund Chief Has Revealed

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Gordon Brown ignored a stark warning that "toxic" bank loans could lead to global financial collapse, a leading US hedge fund chief has revealed

http://www.thisislondon.co.uk/standard/art...bell/article.do

I bet he got SEVERAL warnings - but stubbornly ignored them

THIS is what Gordon Broon should be crucified about........ We need to find out more....

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the comments are good, and one makes the point that osborne and cameron missed the warning signs and called for more deregulation, which if true is no surprise.

best comment there (about Brown) is

Leave the guy alone, we do not need more evidence that he's incompetent.

- En, London

:lol:

Edited by loginandtonic

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Anyone else remember this?

Gordon Brown To Blame For Banking Crisis HBOS Whistleblower Paul Moore Says

'PM To Blame For Banking Crisis'

3:23pm UK, Sunday February 15, 2009

A man who claims he was sacked by HBOS after warning about reckless lending says he has proof that Gordon Brown is responsible for the banking crisis.

15221473.jpg

Whistleblower Paul Moore has said he will release more than 30 documents that will disprove the Prime Minister's claim about the reasons for HBOS' massive losses.

He believes the failure to regulate banks over the past decade is at the root of the problems.

And because Mr Brown was the Chancellor who presided over Labour's financial policy, he believes he should now step down as Prime Minister.

In written evidence to the Treasury Select Committee, Mr Moore, HBOS' former head of risk, said he was fired by Sir James Crosby after warning that the bank was "going too fast" in 2005.

After leaving HBOS, Sir James became deputy chairman of the Financial Services Authority (FSA), the body that is supposed to keep banks in check.

When Mr Moore's allegations came to light, Sir James resigned, saying that although they were not true, he did not want to make the FSA's job more difficult.

Mr Moore told Sky News: "I continue, firmly and confidently, to stand behind all of the allegations I made in my testimony to the Treasury Select Committee.

"I have detailed corroborative evidence that supports my allegations and I maintain in the strongest possible way that the KPMG report (upon which) Gordon Brown, the FSA and Sir James Crosby rely will not withstand truly independent public scrutiny."

I remember waiting eagerly for the release of these documents nearly 7 months ago and as far as I know absolutely nothing has been published by the media (notice I didn't say "released to").

Must be pretty damning stuff to have been suppressed for this long. <_<

Maybe Dr David Kelly's widow advised him against it.

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Anyone else remember this?

Gordon Brown To Blame For Banking Crisis HBOS Whistleblower Paul Moore Says

I remember waiting eagerly for the release of these documents nearly 7 months ago and as far as I know absolutely nothing has been published by the media (notice I didn't say "released to").

Must be pretty damning stuff to have been suppressed for this long. <_< ..../

Yup - I was waiting for that -- I wonder where it's gone?...? :blink::unsure:

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Listening to Michael Buerk's 'The Choice' (first time I ever lasted more than 5 mins into that programme!) I found Paul Moore to be one of those people I feel compelled to disagree with even when I agree with his point of view. He was, perhaps, not the right person to be 'blowing the whistle' - if any was needed amongst the blindingly obvious and unsustainable folly that was playing itself out.

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"So, against a background of mounting uncertainty and instability in the global economy, we set about establishing a new economic framework to secure long-term economic stability and put an end to the damaging cycle of boom and bust".

No return to boom and bust. :ph34r:

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I found Paul Moore to be one of those people I feel compelled to disagree with even when I agree with his point of view. He was, perhaps, not the right person to be 'blowing the whistle' - if any was needed amongst the blindingly obvious and unsustainable folly that was playing itself out.

Why? He seems very articulate to me. Don't forget David Kelly was accused of having a Walter Mitty complex (too).

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Any idiot could see unfettered lending was a route to disaster.

BUT, it maintained the illusion of a miracle economy.

so who is more to blame...the people doing the lending and not giving a stuff about the consequences, or the people who SHOULD by their legal duties be protecting the nation, who continued to deny and ignore the circumstance.

The Governments around the World fall into this latter category.

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Guest happy?

the comments are good, and one makes the point that osborne and cameron missed the warning signs and called for more deregulation, which if true is no surprise.

best comment there (about Brown) is

:lol:

Osborne did indeed call for greater de-regulation. The only politician who sounded any note of caution was Cable.

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Gordon Brown ignored a stark warning that "toxic" bank loans could lead to global financial collapse, a leading US hedge fund chief has revealed

http://www.thisislondon.co.uk/standard/art...bell/article.do

I bet he got SEVERAL warnings - but stubbornly ignored them

THIS is what Gordon Broon should be crucified about........ We need to find out more....

the trouble is most warnings weren't mathematical enough and so couldn't be used to change global policy. Most arguments amounted to suspicions, because no one really understood what was happening. However; GB is culpable for not erring on the side of caution, when quite clearly non one really knew what was happening.

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Guest happy?

the trouble is most warnings weren't mathematical enough and so couldn't be used to change global policy. Most arguments amounted to suspicions, because no one really understood what was happening. However; GB is culpable for not erring on the side of caution, when quite clearly non one really knew what was happening.

There was a bloke in the pub the other day who said he told Gordon it was going down the shitter but would he listen would he fvck. Gordon, he said, trust me me old mucker it's all going down the shitter. Apparently, Gordon nutted him one.

Then he spoilt it all by saying how well his Alliance and Leicester shares were doing.

If only Gordon had listened to some bloke down the pub we would all have been a whole lot better off. My missus fancies that Georgie Osborne.

Edited by happy?

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Anyone else remember this?

Gordon Brown To Blame For Banking Crisis HBOS Whistleblower Paul Moore Says

I remember waiting eagerly for the release of these documents nearly 7 months ago and as far as I know absolutely nothing has been published by the media (notice I didn't say "released to").

Must be pretty damning stuff to have been suppressed for this long. dry.gif

Maybe Dr David Kelly's widow advised him against it.

Yup - I was waiting for that -- I wonder where it's gone?...? blink.gifunsure.gif

There must be an injunction preventing him from talking.

Has he been told to be quiet or go hill walking?

This may be of interest:

http://www.ftadviser.com/FinancialAdviser/Regulation/Regulators/FSA/News/article/20091022/4df1600a-bc96-11de-8a16-00144f2af8e8/Moore-polls-risk-managers-on-crisis.jsp

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