Such a prescient, beautiful sentiment.

Tuesday, 10 February 2009

Should Pompous Prudence say sorry? Or Ed Balls, or Alistair Darling, or the whole Labour Party?

I suspect he's looking for what's left of our economy in the picture below!
"Remember: when Gordon Brown first set up his new system of banking supervision, the amount British banks lent out was matched by the amount that they held on deposit. In fact, they were often in overall surplus.
By the time he finished as chancellor, they were lending over £625 billion more than they held on deposit. That’s not supervision – it was sheer recklessness. It’s that funding gap which is the key to understanding how our banks have crumbled"

Taken from an excellent article at

Prudence my a**e!