Mr Woppit – thats not removing regulation. That is what I said in an earlier post – he admitted he should have re regulated but he didn't. Leving things at the status quo of underregulation that he was left by the tories is not the same thing as him deregulating

So I say again – please let us know what regulation Gordon Brown removed from the banks?

I bow to your superior Detail Conciousness.

So not having the good grace to admit that you are wrong is a reasonable excuse to be sarcastic and rude?

Berm Bandit – Member
So not having the good grace to admit that you are wrong is a reasonable excuse to be sarcastic and rude?

Eh?

You heard! 😕

Well, I read you, strictly speakinmg, but I know not whereof you speak, sir. You lost me.

Good advice on the last page Berm Bandit.

#takes advice#

You lost me.

Not a feat that will deserve a great deal of recognition clearly!

There you see? Sarcasm….. and rude to boot.

Personally, whilst I don't always agree with TJ, but he is one of the long time contributors to STW and generally polite and civil, so I don't see the need to do that to him as above.

Anyway, as an aside, but in the general vein of the thread. Didn't take long for the sale to begin did it?

Forced Sale Due to Bankruptcy

You would think that they would have learnt from the last time wouldn't you?

do that to him

Do what to him? Concede that he is correct?

You are being a numpty. No offense.

TandemJeremy – Member
Oh – and if you think folk are whinging now you ain't seen nothing yet. tory policy is going to send us into a real big deep and long recession with at least another million on the dole – probably 2 million.

Their mindless dogma is going to destroy what is left of the economy

You can't wait can you, lets hope it's not the public sector pensions that are targeted!

You can't wait can you

Where's the evidence to back up that absurd claim ?

So I say again – please let us know what regulation Gordon Brown removed from the banks?

I feel as though I'm banging my head against a brick wall with this one but let's have one more try. Brown created the FSA as a component of his so-called tripartite regulatory system, and implement what he called "light-touch" regulation, or what they called "principles based regulation", as opposed to more explicit rules-based regulation. One of the purposes of the change was to allow and encourage financial institutions to take more risks ("I want us to do even more to encourage the risk takers" – Brown's Mansion House speech 2004), which they duly did with results that are self-evident to most.

The pedants will note that this indeed isn't deregulation, it's removal of effective regulation so I concede on that one.

Right, off to find the aspirin.

The pedants will note that this indeed isn't deregulation, it's removal of effective regulation

Hang on a minute. Isn't that what I said?

So I was right, then?

Oh…

You would think that they would have learnt from the last time wouldn't you?

Did you read the article BB?

Moves to offer the rights to operate the route were first announced by the Labour government last year

Or was that statement a bit inconvenient.

RIO – but the think you fail to understand is that after those changes by brown the regulation that ruled the banks were much the same as before.

Its the big bang of the 80s that was the massive deregultaion.

Mr W, yes you were right IMHO!

TJ, some regulations were similar, e.g. the ones that let your bank sell you insurance, but the ones that ensure the stability of the banking system were not, there was a fundamentally different regulatory regime which incidentally Brown and Blair were very proud of.

Mr W, yes you were right IMHO!

But not according to the Conservative Party.

Not according to David Cameron, the leader of the Conservative Party.

According to David Cameron, Gordon Brown was, quote : "The great regulator"

From the Conservative Party website :

"Everyone knows that business need deregulation to compete with China and India.

Who’s standing in the way? The great regulator and controller, Gordon Brown."

http://www.conservatives.com/News/Speeches/2005/10/Cameron_Change_to_win.aspx

.

Of course it was complete nonsense for David Cameron to call Gordon Brown the "great regulator".

But for someone slavishly committed to the neo-liberal deregulated free-market, even Gordon Brown's "light touch" regulation was seen as an unacceptable level of government interference.

Needless to say, David Cameron's speech was made in 2005 before the catastrophic global economic failure caused by deregulated financial services in the US, Britain, etc.

Even as late as November 2007, Rupert Mudoch's Times was singing the praises of Iceland's deregulated financial services……….could there be a better example of how well deregulation of banking works ?

Deregulation brings boom time to Iceland

Quote : "Billionaires who blossomed after financial controls were eased have brought new vigour to a city that once was a business backwater"

Of course we all now know what happened to the Icelandic banks.

All I know working for a Non-departmental Public Body is i'm going to get fecked over 🙁 20 years of pension ain't going to be worth shit.

Did you read the article BB?

Yes I did, and I was interested to see how people perceived this sell off, which seems to have snuck in under the radar. The previous BR one has not frankly been covered in glory, no political comment other than that.