In an article in the UK Telegraph is quoting the Head of the Financial Services Authority as saying PM Brown helped fuel the banking crisis by pressuring regulators NOT to intervene and stop reckless lending. For the complete article please click here.
At least Alan Greenspan put his hand up and admitted they messed up, surely PM Brown must do the same at some stage? Once again, regardless of what some money hungry bankers may have done, the blame for this crisis falls squarely at the feet of those responsible for NOT putting legislation/regulation in place that would have prevented to some extent the behaviour that lead to the current disaster. Blaming a group of people who made a lot of money doing what they were paid to do within the bounds permitted by regulation (or lack there of) is nothing short of a political smokescreen!
