Saturday, 7 March 2009

Gordon Brown - Financial system morality - Cheeky sod.

Gordon Cheeky sod BrownI cannot believe that Gordon (the economy destroyer) Brown has got the bare faced cheek to call for 'morality' in financial system. It's like the Devil offering to re-write the Ten Commandments. Just how stupid does he think we are? He allowed the financial system to become Immoral in the first place. He knew about 125% mortgages, he knew about lending four or five times someones income, he knew about mortgages being offered over 40 to 50 years, he knew about the massive abuse of self certification, but most of all he must have known (like anyone with half a brain) that the bubble would have to burst when these mortgages inevitably stopped being paid. He knew and he did nothing.

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.

4 comments:

The Raven said...

It's just another example of him following rather than leading. Cameron used this exact phrase back in January:

http://news.bbc.co.uk/1/hi/business/davos/7860761.stm

It's just like how, months ago, Cameron and Osborne made sure the bankers also took their share of the blame. Everyone in the government thought this was odd, and didn't do it. Now we have Hattie and her 'court of public' opinion.

Daily Referendum said...

Raven,

Yeah, it's desperation kicking in. Brown hopes that if it works Cameron, it might work for him.

Stiletto said...

How anyone can vote Labour at the next general election I have no idea

Simple really.

Labour control all broadcast media and effectively 90% of the print MSM.

Daily Referendum said...

Stiletto,

You're not wrong.