Quote:
Originally Posted by Flyboy
So did Gordon Brown actually force these bankers to act irresponsibly then?
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No - he just set up the regulatory framework which allowed them to do so unhindered by proper scrutiny. Whilst they were at it he was too busy spending and dining out on the tax revenues generated to worry about what was going on and what it was all based upon. The fact that he doled out honours to a large number of them (including a Knighthood to Fred the Shred) and spoke boldly of his desire to 'encourage the risk takers' during an official address to City financiers indicates that he wasn't exactly discouraging their activities or advocating the 'prudence' he boasted so much about during his time as Chancellor.