How I would tackle Brown's Great Depression

[PM-Junkie]

There was some guy on the BBC news channel last night saying effectively the toxic assets written down by the banks had been overdone because of accounting rules - ie they were paper losses not real losses as on a lot of the mortgages they were still getting the payments in!

So he was saying change the accounting rules to take the pressure off the banks and hence the rest of us.

So how come Gordon hasn't picked up on this?

Maybe because his degree was in history and his PhD thesis was on the scottish labour party, so he has absolutely NO qualifications in finance, accounting or economics - and hence hasn't the faintest idea what he's doing?