Wednesday, February 11, 2009

The "Ask No Questions" Prime Minister

Gordon Brown is the Ask No Questions leader of a country fast running out of credulity. He did not -

1. Ask anything meaningful about the dodgy sub-prime loans of the USA that found their way into the world's banking system as repacked bundles of laundered cash, even when that was public knowledge.

2. Ask anything about the amount of toxic loans on the accounts of the bailed out banks before handing them shed loads of taxpayers' money.

3. Ask the Financial Services Authority if everything was being scrutinised properly, even when public anxiety reached fever pitch.

The list goes on, but these are prime examples. It is staggering to think that no adviser tells him anything about what is happening and he fails to ask his advisers about possible problems. It is all about sticking plasters and tea and sympathy. Nick Leeson brought down Barings Bank and we all stood back and wondered. Instead of learning lessons, the financial world carried on as normal (for them) and cranked up the motor on the bubble inflator. So we were going backwards instead of forwards.

Brown is the Ask No Questions leader. All he can say is that nobody saw it coming. Well, that's not true. Many saw it coming, first of these was Ron Paul. Brown once famously burst into Tony Blair's office and ranted about not believing a word Blair said (about resigning as PM). Gordon Brown has become the Prime Minister of whom it can be said - "Nobody believes a word he says".

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...