Why is Gordon Brown to blame?

[10ClarionSt]

Let me make it clear I am no supporter of Gordon Brown or the Labour Party. I don't believe any of the current problems are anything to do with Gordon Brown but if the media bang on about it long enough, then people start to believe all the bad publicity. It's just another example of the power of the press.

[Gromit]

There was a point where newspaper editors, and regrettably, TV news editors decided that Brown was a dead duck. Then the hacks were dispatched to find anything from pot holes to minor slips of the tongue to bash Brown with.

The press are tired of Brown, he is a bit dull and dourer. They want a change so anything, however trivial will be used against him.

[craft1948]

......very trivial but still laughing at "Obama Beach".......

[Rollo]

For example, when Brown changed the rules on regulation of banks that meant they were not effectively regulated anymore, it was somebody else's fault?

[jake-the-peg]

What and Cameron was standing in the wings shouting:

"What are you doing Gordon? - our banks need tougher regulation - we want more red tape now!!!" ?

[sqad617]

Labour has done good things in the 11years of office and some stupid things, as all Governments have. I feel sorry for Gordon Brown, but. the next election has nothing to do with policies as the electorate just want a change.

Nothing to do with Conservatives.

I have voted Labour and Conservative and consider myself as a barometer of public opinion.....and the barometer indicates a marked swing to the right

I was only wrong once and that was when John Major won for the Tories, when there was marked unemployment and high interest rates under the Tories.

I voted Labour and John Major got back in and I knew then that we would never again see a Socialist Government.............and we haven't.

[jake-the-peg]

Let's be quite clear about what caused the Banking Crisis.

Banks rewarded staff that took on risk that suceeded

When risks failed those staff lost nothing and might not evebn be discoverred for years

That promoted a culture that basically rewarded gambling with other people's money.

This happened both here and in the most other western countries.

Blaming the government is like a burglar blaming the police for not stopping him.

If your house was turned over would you blame the police or the burglar?

[Rollo]

Somebody else is always to blame when things go wrong?

Then the sooner this "no responsibility" government is gone the better for all of us!

[jake-the-peg]

Note you've not answered any of the points I raised Rollo.
Could it be you're just basing this opinion on what you've read in Newspapers?

That would be rather ironic given the nature of the question!

[jno]

Rollo, wasn't the main deregulation the City of London 'Big Bang' that happened under Thatcher? Not that Brown hasn't fawned over bankers, but I think he and Blair mostly continued a policy of hands-off-the-city that began under the previous regime.

[Rollo]

I am basing my opinion on what I see, and hear coming out of the mouths of Brown and his cabinet!

[jake-the-peg]

Right then time to get a clue!

What exactly were these reforms of Gordon Brown's that so exacerbated the banking crisis according to the likes of the Telegraph?

This was the Base lI Accord of 2004
http://en.wikipedia.org/wiki/Basel_II

Only it wasn't something that Gordon sat down and came up with all on his tod as the papers would have you believe.

It was a common agreement of all the G10 nations.

You'd be as well to blame Bush - but you don't want to do you?

And who at the time was pointing out that "procyclicality" in this agreement would exacerbate any world-wide downturn?

Nobody

[Rollo]

Jake, no matter how much you want him, Brown will be toast the day after the next general election. The one he is going to put off until he is force to have one by law.

[Marky B]

This government is tired and clueless. We don't need a new captain at the rudder,we need a new crew with a new ship.
Marky B

[New Judge]

The banking crisis is not the only problem the UK faces at the moment but since we seem to be concentrating on it remember this:

Brown was Chancellor from 1997 to 2007. During that time the country was led to believe that never again would we see the �boom and bust� cycles of earlier years. �Prudence� Brown announced year after year that the country was enjoying sustained and unprecedented growth (for which he unashamedly took the credit). This growth was founded on borrowed, cheap money and personal debt grew at an alarming rate.

Meantime, fed by this cheap borrowed money the housing market heated to a ridiculous level and people borrowed more money against the equity in their property to fund even more spending (i.e. �growth�).

Now it�s all gone pear shaped for the simple fact that the banks have no more to lend and we�re back to living within our means (i.e. �recession�).

Yes, the bankers have a lot of questions to answer. But control of the economy (and it is the economy that has failed) is clearly the responsibility of the government and specifically the Chancellor. During the �boom� years public spending increased incredibly with no real tangible benefits for taxpayers. (Who, for example, believes that their GP, now earning almost twice as much as he did 5 years ago, is twice as good?). During those same years, of course, Prudence did not see fit to put a bit into the bank for the inevitable rainy day.

And still it�s not over. Printing money (Brown�s current �solution�) will lead to disaster, and there are no real plans to curb public spending. At least there will be plenty of worthless money for them to spend.

The media did not make this story, it was made by Brown himself. It is about the effect that one man and his ridiculous dogma has had on this country�s wellbeing.