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Alistair Darling To Reveal Frantic Scenes During Financial Meltdown

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http://www.guardian.co.uk/politics/2010/nov/26/alistair-darling-banking-crisis-book

Alistair Darling, former chancellor, is to write a book about his experience at the heart of the global banking crisis.

The book, provisionally entitled Back from the Brink, will focus on the failure of British banks such as Northern Rock and RBS, as well as the US institutions Lehman Brothers, Fannie Mae and AIG.

It will detail the frantic behind-the-scenes negotiations between politicians and central bankers in the US and Britain as the crisis threatened to spiral out of control in the autumn of 2008.

The book will also trumpet the pivotal role played by Darling and former prime minister Gordon Brown in putting together an international rescue package.

Darling's story will capture important events during his three-year tenure as chancellor in Brown's cabinet but will steer clear of revealing tensions between ministers. Darling is reported as saying he isn't interested in a "kiss-and-tell" book that focuses on personalities.

Toby Mundy, chief executive of the publishers, Atlantic Books, said: "Not only will Darling's book be a gripping drama but it is also a vital historical document. It will take a story people think they know something about and make us see it afresh, from the perspective of someone at the epicentre of the storm."

Darling told the Evening News in Edinburgh that he wanted his book to be something that "people will come back to in 10, 20 or 30 years' time".

How nice that we will all be able to read what geniuses he and Gordon Brown really where in saving the economy and the banks.

Yep I'm sure that people will come back to this book in 10 or 20 years time although I suspect it won't be for the reasons Darling things.

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

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Seriously, how difficult could it have been to "save the banks".

It basically amounted to giving absolutely ****** loads of cash and open ended guarantees away using our money.

Surely if they had restructured in an orderly way with minimal cost to taxpayers that would have been more of a success?

Genuine question here. How can Darling and Brown congratulate themselves for this?

Edited by Kyoto

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

Spot on!

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

+1 :D

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

How we stuffed a bloated pig on the back of the taxpayer.

The bonuses started flowing again the minute they pledged our future to these parasites.

Edited by OnlyMe

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

That was Volume II.

Volume I, "1997-2000 : How We Tore up the Regulatory Book and Forced a Global Race to the Bottom".

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He has no concept of what he has really done has he?

He has raped ordinary people and given all their money to the rich for literally decades to come.

I even think Gerry Adams has more about him in this regard.

Darling may have 'saved the day'. But he has no clue whatsoever as to what he has done!

he said the other day on the Daily Politics that the big problem was the deficit.

yet it appears he trumpets the RESCUE of the WORLD with Fiscal Stimulus....ie, MORE DEFICITS...

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Like many people (esp. on HPC) I was amazed at the reaction of the Brown/Darling and Labour in General.

There was all this talk of "doing the right thing" as if doing anything else was an act of treason.

Forget the fact that they didn't spot the "recovery" before TSHTF - forget everything.

We saw the same thing in Ireland.

The government patting themselves on the back for making the wrong move - time and time again.

And finally, the government almost goes bankrupt - private profits are converted into public debts - the country is saddled with generations of debt and the Government act as if they played their cards right - saved the country and set up a sound foundation for the future.

It's depressing.

I won't be reading this autobiography by Darling - and I'm sure few others will.

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Like many people (esp. on HPC) I was amazed at the reaction of the Brown/Darling and Labour in General.

There was all this talk of "doing the right thing" as if doing anything else was an act of treason.

Forget the fact that they didn't spot the "recovery" before TSHTF - forget everything.

We saw the same thing in Ireland.

The government patting themselves on the back for making the wrong move - time and time again.

And finally, the government almost goes bankrupt - private profits are converted into public debts - the country is saddled with generations of debt and the Government act as if they played their cards right - saved the country and set up a sound foundation for the future.

It's depressing.

I won't be reading this autobiography by Darling - and I'm sure few others will.

well, Its like George W Bush boasting that he'd authorised torture, and boasting he'd do it again to save lives.

He gave the order, yet others go to prison for carrying it out. I would suggest he is the MOST guilty of the offence. He Gave the orders.

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

:lol:

Brilliant.

(And also due to Brown's tampering with the inflation index in Dec 2003, to prevent the BoE from raising IRs in 2004 - a pre-electoral year.)

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I must have missed his first book "2001-2008 : Up to the brink" where he details how Gordon and then he allowed the biggest credit bubble in history to build up due to lax lending and in some cases outright fraud.

If I was a writer, I'd be tempted to pen the damned book myself, going under the pseudonym of Alastair Darling.

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Genuine question here. How can Darling and Brown congratulate themselves for this?

From the little I've read about how the mind works this is what I understand might be happening -

For them to be able to say 'I screwed up big time' would require thoughts that would be completely incompatible with their sense of self. The cognitive dissonance created by believing themselves to be good people and at the same time believing their sustained, repeated actions and inaction to have wrought incredible damage to this country and ultimately to the lives of it's citizens would be too much to bear. Faced with such cognitive dissonance the mind tends to adjust either the perception of the self (maybe I'm not such a good person after all) or find a way to justify the actions to fit in with existing perception of self (I'm a good person, I acted with good intentions). Failure to do so and having to live with such incredible cognitive dissonance would potentially result in a breakdown/suicide.

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From the little I've read about how the mind works this is what I understand might be happening -

For them to be able to say 'I screwed up big time' would require thoughts that would be completely incompatible with their sense of self. The cognitive dissonance created by believing themselves to be good people and at the same time believing their sustained, repeated actions and inaction to have wrought incredible damage to this country and ultimately to the lives of it's citizens would be too much to bear. Faced with such cognitive dissonance the mind tends to adjust either the perception of the self (maybe I'm not such a good person after all) or find a way to justify the actions to fit in with existing perception of self (I'm a good person, I acted with good intentions). Failure to do so and having to live with such incredible cognitive dissonance would potentially result in a breakdown/suicide.

This is a very important post.

Edit: Perhaps even Labour supporters suffer from a milder version of the same phenomenon?

Edited by Tired of Waiting

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From the little I've read about how the mind works this is what I understand might be happening -

For them to be able to say 'I screwed up big time' would require thoughts that would be completely incompatible with their sense of self. The cognitive dissonance created by believing themselves to be good people and at the same time believing their sustained, repeated actions and inaction to have wrought incredible damage to this country and ultimately to the lives of it's citizens would be too much to bear. Faced with such cognitive dissonance the mind tends to adjust either the perception of the self (maybe I'm not such a good person after all) or find a way to justify the actions to fit in with existing perception of self (I'm a good person, I acted with good intentions). Failure to do so and having to live with such incredible cognitive dissonance would potentially result in a breakdown/suicide.

Ego is a terrible thing - we all have to fight it but politicians and actors seem to constantly lose against it.

Control freaks often get to the point where they have to continue with their twisted world-view as the reality would often lead to a mental and/or physical collapse.

When the legend becomes fact, print the legend.

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I'll let Darling off the hook. He was dragged in to take the financial helm after Brown became PM.

He did "level" with the public, which could have cost him his job, and bully boy Gordon Brown did "unleash the fires of hell" on him after. He now of course tows the party line in opposition.

hell.jpg

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From the little I've read about how the mind works this is what I understand might be happening -

For them to be able to say 'I screwed up big time' would require thoughts that would be completely incompatible with their sense of self. The cognitive dissonance created by believing themselves to be good people and at the same time believing their sustained, repeated actions and inaction to have wrought incredible damage to this country and ultimately to the lives of it's citizens would be too much to bear. Faced with such cognitive dissonance the mind tends to adjust either the perception of the self (maybe I'm not such a good person after all) or find a way to justify the actions to fit in with existing perception of self (I'm a good person, I acted with good intentions). Failure to do so and having to live with such incredible cognitive dissonance would potentially result in a breakdown/suicide.

;)

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I'll let Darling off the hook. He was dragged in to take the financial helm after Brown became PM.

He did "level" with the public, which could have cost him his job, and bully boy Gordon Brown did "unleash the fires of hell" on him after. He now of course tows the party line in opposition.

hell.jpg

IMHO, Brown is crazy.

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I'll let Darling off the hook. He was dragged in to take the financial helm after Brown became PM.

He did "level" with the public, which could have cost him his job, and bully boy Gordon Brown did "unleash the fires of hell" on him after. He now of course tows the party line in opposition.

hell.jpg

8ollox.

he took the job, the salary, the prestige, the power.

He wasnt forced.

so he volunteered....

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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