Monday, October 13, 2008
Blame the Bankers If You Like, But Brown Is the Real Culprit
Iain Dale 10:34 AM
The Conservatives must not let Brown off the hook. He set up the current regulatory system and must be held responsible for it. It has failed and he is the man to blame. He was told over and over again the tripartite system was not working, yet took no notice whatsoever. It's all very well to blame bankers for taking short term risks - but the regulatory system which Brown was responsible for not only allowed them to do so but positively encouraged such behaviour. The warnings were there, but Brown ignored them.
There is little doubt that today marks a landmark in Britain's economic and political history.
The long term political consequences are impossible to determine yet. Labour apologists (and to some extent parts of the media) are trying to spin this as the day Gordon Brown discovered his vision for Britain - see Jackie Ashley's (third) volte face in today's Guardian.
What a pity it cost us all £37 billion in the process.LibDem Peer Monsters LGA Man
Iain Dale 8:12 AM
The two protagonists were Paul Coen from the Local Government Association and LibDem Peer Lord Oakeshott. They were talking about Icelandic bank investments by local authorities. Coen displayed astonishing complacency and said that not a single authority had acted recklessly and everything would be alright on the night. Oakeshott went for him and gave an example of a council - Winchester - which had been putting money in very recently. Coen said all the banks invested in had a Triple A rating, which was clearly rubbish, as Oakeshott quickly pointed out. Coen then complained that the Peer was getting personal, which made me laugh out loud.
Coen should never have done the interview. He had nothing to say and thought he could get away with reassuring platitudes. His performance made both himself and the LGA look idiots.Sunday, October 12, 2008
Alastair Campbell on 'Cracking Up'
Iain Dale 10:53 PM
It's interesting that Campbell openly admitted he still suffers from depression. He now regards it as 'integral' to his personality. He says he has an obsessive, addictive personality too - there's always something in his life which overwhelms everything else.
A very revealing programme which didn't necessarily make you feel sorry for Alastair Campbell, although it did help one understand him a little.
Monday, 13 October 2008
'A global problem which required a global solution', says Gordon Brown, trying to make out that he has been the instigator of the so-called global solution. What he doesn't tell you, of course, is that Britain and America are the only two countries which have been hit in such a devastating way. There's a reason for that. With Brown as chancellor Britain let its finances get out of control and encouraged a debt boom, the like of which we had never seen before. Countries which managed their finances more conservatively have had fewer problems. Any rescue packages they are having to impose are largely due to the collapse in world markets because of what has happened in American and Britain, rather than in their own countries.
The Today Programme gave us a great example this morning of an interview with will be used by media trainers ad nauseum over the next few months. The lessons were twofold. Never go into an interview with nothing to say and never underestimate the ability of a member of the House of Lords to go for your throat.
I'm watching a programme called CRACKING UP on BBC2. It's a documentary by Alastair Campbell about his nervous breakdown. It's strangely compelling. For those of us who have never had issues with depression or other mental issues, it is difficult to comprehend how someone is driven to such depths of helplessness.
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