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Originally Posted by RizzyKing
No he is not the only one to blame but he is the only to blame for the impact this is yet to have on the british public. His lack of forward planning is going to seriously come back and bite us sorry people but if you think this is as bad as it is going to get your in for a shock. I really am at a loss to explain how suddenly he is the knight in shining armour for doing what labour have always done in a crisis ie throw money at it. That isn't planning for a labour politician it is instinctural.
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But this is a approach which is both (appearing) to be working and was taken up but a lot of other governments. It's also not necessary a complete waste, a lot of money did not need to be paid as the confidence and shares in the banks increased and if/when the banks recover then the government can sell their shares and maybe make a profit.
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Come on people am i the only one feeling a little queasy at how much gordon seems to be revelling in all this at the minute and before we hail him can we actually see if this works not just in the short term but as always with gordon and his great ideas in the long term as well. Arn't people fickle one minute he is the villain now all of a sudden he is a hero and while not single handedly responsible for this blaming the banks totally is not fair either or don't we have regulators in this country that should have sorted this out before it got to this stage.
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I don't why the government is necessary to blame for not imposing tighter regulation. The whole ethos since the Thatcher government seemed to have been that free markets work and should be left to their own devices, any problems would be dealt with by the market correcting itself. Turns out it didn't happen. However, I am not sure any government would have imposed tighter regulation and a lot of other countries did not. Would imposing tighter regulation not put our banks at a disadvantage against others?
Not that the government is completely innocent, but I don't think they should take the bulk of the blame by any means. I also think they deserve credit for what appears to have been great leadership in trying to solve the crisis. Brown has looked like a leader for the first time in over a year. Maybe since he got the job. His plan is the one America copied after their ideas didn't work, and Europe followed after they were stumbling for a plan.