"So I congratulate you Lord Mayor and the City of London on these remarkable achievements, an era that history will record as the beginning of a new golden age for the City of London."Golden Age? only it was to be Fools Gold.
"And I believe it will be said of this age, the first decades of the 21st century, that out of the greatest restructuring of the global economy, perhaps even greater than the industrial revolution, a new world order was created."
Saturday 13 February 2010
Is Gordon Brown the most financially incompetent Chancellor of all time?
I was reminded of Gordon Brown's Mansion House speech of 2007 by John in the comments of my previous post about Gordon's dodgy moral compass. This speech was given JUST before the world's economy fell around our ears and it shows just how incompetent Gordon Brown was as Chancellor:
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4 comments:
Great find.
I hope Gordon will be reminded of this speech.
I hope it is ok if i use this in one of my blogs.
I will have a link to your blog.
As the world buys into gold big time, I wait with baited breath to see how much this useless ex chancellor will pledge into propping up the Euro yet again.
At least he knows the difference between 5.4% and 54% eh?
Oh and he hasn't massively overstated crime figures (there's that math problem again) to try and scare people into voting for him.
By the way - use a spell checker, it's extremely rude to spout illiterate crap in public, just confirms what a neanderthal idiot you are.
TTFN
Amazing innit, that despite the research budget of the entire independent television chanel, and he himself having the towering intellect of a famous tabloid editor, Piers Morgan did not draw this quote to Brown's attention.
quite unfathomable ...
Equally he never reminded Brown of these words uttered in 2005....
(we)... 'are announcing details of a risk based approach to regulation to break down barriers holding enterprise back'
'In a risk based approach there is no inspection without justification, ... Not just a light touch but a limited touch. .... we adopt a risk based approach which targets only the necessary few.'
'following the Hampton Review we will legislate in the new year to reduce 29 regulators to just seven'
'We will look to apply on a wider basis the principle of risk based regulation to financial services legislation and the work of the FSA. The FSA, which we set up in 1997 as a world leading example of how to regulate financial services ... I welcome the thinking it is doing about how it can further reduce the burden of financial regulation. '
http://www.hm-treasury.gov.uk/better_regulation_action_plan.htm
The Telegraph as follows last year .... "The authority’s chairman claimed the regulator was under political “pressure” not to be “heavy and intrusive” with banks such as HBOS and Northern Rock.
Instead, it was told to operate a “light touch” approach, which had now been proved to be “mistaken”, he told a Commons committee"
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