"We set up the Financial Services Authority to, you know before we came into power there was a sort of self regulatory system so you know they more or less regulated themselves. We brought in a statutory regulatory system, supervisory system, but of course we couldn't know exactly what was going on in every individual bank and it's only in the last few days to be honest that what has happened over this pension has come to light."
Gordon Brown on Radio Oxford today.
Seriously, WTF? I mean, aside from the blatant buck-passing deluded lies... Before the FSA, the banks did not 'self-regulate' (and if they did, they did a better job than the FSA), they were regulated by that age-old establishment, the Bank of England. And, newsflash, it did a good job of it too. Brown decided more layers of Government were needed (whee! more taxpayer's money up the spout!), and so split the responsibilites without telling anyone what their responsibilities really were.
Bored now. Go fuck someone else's economy up, you authoritarian, illiberal, lying and devious fool.
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