Gordon Brown Interview 4/4
Here Gordon Brown admits some of his rather basic mistakes.
During the long boom failing to monitor, control and supervise the banks and financial institutions.
Failing to adopt and keep safe and sound values. Same old labour once in power it just goes to their heads. Not realising that Banks are in a globlal world. Come on where has he been the last 30 years reading Stalin and Mao does he not remember the secondary banking crisis in the 1970's. The son of the Manse simply did not have the ability to apply his own values !!
What is interesting of course is who were his advisors during this period. Ed Milliband the son of Brown and now the leader of the Labour party was one of his advisors at the treasury. He tried to get the Bank of England to concur with Gordon Brown's policy of selling the Gold reserves but the bank declined. It is rumoured that the Chinese government have made a substantial profit by buying these reserves at under us$ 300 an oz compared to market value in Jan 2011 of us$ 1400 the loss to the UK is more than 7 Billion us$.
Such financial Ineptitude.
