Miliband calls for an inquiry (interesting how the BBC changed their headline to big-up Ed, not for the first time...since changed again); Brown was at the heart of the design for what failed miserably; Balls and Miliband were his lieutenants: "no return to boom and bust". We know it was 'self delusion masking rank greed'...no risk. Britain having in place 'the most up-to-date early warning and response system' boasted Brown; it was worth nothing 'if you don't understand the system and its risks', watching Dispatches again is a good reminder. Politicians and bankers were and are living in a fools paradise...and "Right now, we’re seeing the party organizers blaming the bartenders";
But when Ed Balls adds his voice to calls for a Leveson-style inquiry for the banks, we ought to remember how many people have a vested interest in framing the banks for the crash. And is rigging interest rates for personal gain so much worse than rigging them for political gain by pumping cheap debt to the masses and dressing the result up as prosperity or recovery? [Link] (Fraser Nelson at The Spectator).
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