He knew. For years the toothless FSA have warned about dodgy and outright fraudulent financial practices. The FSA did nothing but right reports and give advice and Gordon Brown did nothing at all. Brown knew that British banks were buying into sub-prime mortgages in a very risky way and he did nothing about it. He knew that the solid foundations of our financial system were being replaced with swampy toxic debt and he did nothing. The ditherer hung on and hung on, hoping that the whole mess would somehow sort itself out. He could see this problem coming from a mile away and he dodged it. And now he has the the sheer neck to claim that he can sort it out.
How anyone can vote Labour at the next general election I have no idea, Gordon Brown's lazy incompetence as brought this country to it's knees. But not to worry, Brown will retire a very rich man. This is what he told Labour activists in Scotland yesterday:
"Only government can make the markets work in the public interest and not their own interest. "We believe that markets need not just money-men but morals, that being fair matters far more than being laissez faire and that banks must always serve the public, not just serve themselves."Can you believe he has the front to come out with this sort of rhetoric? It's a pity he didn't practice over the last eleven years what he is preaching now.