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Mervyn King the former governor of the Bank of England has said the recession was not caused by Labour, the Lie that it was caused by Labour is perpeptually repeated at each and every opportunity by the Conservative party, Esther McVey also loses no opportunity locally to hammer home the lie, I am suprised she did'nt blame the closure of Remploy on Labour as well, Mr King goes on to say , no one country could have foreseen the crisis.

Might not have been caused--but it was on their watch-- and did they do enough to avert it or mitigate it? Anyway we ended up with the Lib Con pact and they have had a chance----judging by the xmas expenditure (snodvans wifes Cheshire Oaks experience)doesn't seem like a recession.

Quote " no one country could have foreseen the crisis." Not sure about that . In 2006/7 the Channel 4 financial forums had people on there , predicting almost exactly what has happened so far, with worse to come after a false lul. Sadly the site finished so I cant refer back to it. At the time , no-one believed them especially about the price of houses dropping through the floor in 2008

........hmmm! how much of this spending is via our flexible friend?

Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton.

http://www.telegraph.co.uk/finance/...old-Britains-gold-Gordon-Brown-told.html

Not for one moment do I believe it was all his fault, but down to the backroom boys who advise in their capacity as whizz kids. These young inexperienced muppets who are still advising and climbing the ladder as they do, have much to answer for. Gordon Brown took a lot of the flack, but he should never have made an announcement prior to the sale which caused the bullion price to plummet.
One major mistake at a time when we, as a country, were not(apparently) in a recession.
If I remember correctly, wasn't Gordon Brown the one who was flying all over the world, advising other countries how to manage the situation of the recession?

A few sweeping statements there fish,it happened on their watch, does that then make them responsible? did they they do enough, well yes according to Mervyn King they did, faring better than the US and some other countries, as to the festive spending,we used to save throughout the year tontine, credit union and as was mentioned many used credit cards consequently spending what they didnt have, but many many more werent able to join the merry throng at Cheshire Oaks or elsewhere for that matter, and Iam not talking about the benefit abusers, just ordinary folk struggling, like my son who works eight to six and most weekends, just to live and pay his way, you may say hes lucky, why? does he not deserve what any normal person would wish for? god help us all if we are considered to be lucky for being employed, but then that is the myth created by those that hold power, the expenses thieves, the manipulators of justice,the vested interests merchants the list is endless, and they have the temerity to condem.

Casper, there was so much involved in all this collapse. Here is an article saying that Mervyn King was against Gordon Brown's Tobin Tax for example. I've never heard of Tobin Tax and I don't think any one thing or person was responsible for where we as a country, or the world, ended up. It must be said, that if we had joined the euro as Mr Blair and many had wanted, we would be in a far worse position. So wheels within wheels and Mr King also had a big part to play, being Gov. of the Bank of England. Prior to 1996 the Government made decisions on interest rates etc.etc., then changes allowed all banking/financial decisions to be handed over to the B.O.E. SO, how I see it is when you have banks of one country, trying to deal with politicians in another country, the banks have got far too caught up in areas that they should not be a part of. How many deals have been made since involving the banks? We wouldn't know but Banks should stick with banks not be involved with corrupt/stupid or twisted leaders of any country.


Payback time for Gordon Brown as Mervyn King backs Obama



Gordon Brown was yesterday stabbed in the back by Mervyn King when the Gov of the Bank of England sided with Pres Obama and his banking levy as opposed to Gordon Brown and his so-called "Tobin tax". It had appeared yesterday was to mark the re-emergence of Gordon Brown as an international statesman after he reiterated his plans for a tax on every financial transaction and appeared to suggest there was growing support for his idea.

Today those comments and those assumptions lay in tatters with more and more prominent figures from the world of finance looking towards Pres Obama's banking levy. Unless Gordon Brown backtracks it would appear he may well be sidelined and isolated yet again just as it appeared he was making headway on the international scene and with UK voters.

It has been common knowledge in the markets that Mervyn King and Gordon Brown have not seen eye to eye for some time with speculation that Mervyn King would have lost his position at the Bank of England early last year but for the recession. Whether yesterday was Mervyn King's time to gain revenge on Gordon Brown is debatable but the UK prime minister certainly felt the impact of the Bank of England seemingly siding with the US authorities rather than the UK government.

http://www.financialadvice.co.uk/ne...on-brown-as-mervyn-king-backs-obama.html

I agree granny my main point is that the Conservatives have been consistent with apportioning blame for everything on the Labour party, and as you have quite rightly stated many factors have to be taken into account and the finger can be pointed in so many directions, the saying glass houses and stones springs to mind, but for the truth to emerge we will have to wait.

It is traditional for all parties to blame their predecessors is it not?

Yes they do Chris, but not to the extent and the lengths the Tories have gone to on this one, every blip on the screen, oh it was the fault of the last government, they are doing a damn fine job now of protecting their paedo mates, the perpetrators will almost certainly remain protected,or the few who have died will take the blame,certainly one very high profile Tory known to all but cant be named in the house because of Parlimentry privilage, I feel ashamed that we harbour those of all parties who molest children yet are protected to save embarrasment to their respective parties.

Although I agree with you, Casper, that any paedophiles should be pursued and certainly not shielded, I think you misunderstand the principle of parliamentary privilege, which in fact allows members in the chamber to make statements which, if repeated outside the House, would be slanderous.

The bit about Parlimentary privilege came from a newspaper article Chris, just repeating what was reported, will look into it further.

It is never mentioned that after the banking crisis, the economy was GROWING again under Labour until the tories took over and wrecked the recovery.

I find their constant 'Reduce the deficit' cries a bit irritating too. What 'reducing the deficit' actually means is that the rate at which we are accumulating debt it being cut, not the debt itself which continues to grow. In fact they have not managed to even cut the deficit! They have cut spending, but by doing so, have cut our earnings more!

We need to chuck this lot out. they are a huge failure, and an economic disaster.

They have used the recession to pursue their own agenda, an excuse to attack the welfare system and privatise the NHS and demonise the unions yet again, looking back to the Thatcher years it was they that encouraged people onto the disability register to massage the unemployment figures, they now believe they have the mandate to attack the system which they so blatantly encouraged, if they are allowed to govern again they may seek to reintroduce the Poll tax I wouldnt rule anything out, the hard right is on the rise, get ready to tighten your belts.

If you have an LCD TV larger than 40 inches you are not being affected by a recession.