Friday, January 23, 2009
Incompetence? NO! Corruption? YES!
He said that despite warning about the possibility of some breakdown in the markets it was impossible to predict over the past 10 years that they would seize up totally. The Prime Minister refused to admit that Britain was living through "a bust" and repeatedly failed to say that in fact he had not abolished "boom and bust" - an achievement he often claimed while he was Chancellor. Mr Brown said that previously the whole of economic policy had been focussed on "how to control inflation". The Government had recognised there had been a danger of "institutional failure in the banking system" and acted to bolster national regulation, he insisted.