Gordon Brown’s error – being directed by the bankers

It is refreshing and admirable when a politician admits to making a mistake, because politicians spend so much of their time professing their infallibility. Of course, as soon as one admits to a mistake his or her political enemies and commentators circle around like sharks smelling blood.  Gordon Brown has admitted what he regards as a single small error. I get the feeling that he admitted it to demonstrate that he is after all human. Continue reading

Should the Prime Minister resign?

This must be the hardest time in many years for a Prime Minister to govern the United Kingdom. First the economy is not in a healthy state. It is not all doom and gloom and we are probably over the worst. However, the government has to sort out an economic crisis triggered by failures in the banking system and inflation.

Failures by banks to understand what they were doing when they bought packages of third class debt wrapped up as prime debt are not only gross errors by the banks but also a regulatory failure by the government. The country needs a banking service in which ordinary people can have confidence that they savings are safe. Continue reading