The 10 people most responsible for the recession
Dick Fuld (Lehman Brothers)
Hank Paulson (US Treasury)
Alan Greenspan (US Treasury)
John Tiner/Hector Sants (UK FSA)
Fred “the shred” Goodwin (RBS)
Gordon Brown
George Bush
Kathleen Corbet (Standard & Poor)
"Hank" Greenberg (AIG)
Angelo Mozilo (Countrywide)
They might have added that Gordon Brown set up the FSA, and set it up to fail.
Dick Fuld (Lehman Brothers)
Hank Paulson (US Treasury)
Alan Greenspan (US Treasury)
John Tiner/Hector Sants (UK FSA)
Fred “the shred” Goodwin (RBS)
Gordon Brown
George Bush
Kathleen Corbet (Standard & Poor)
"Hank" Greenberg (AIG)
Angelo Mozilo (Countrywide)
Apparently Gordon Brown predicted the global financial crisis ten years ago, in a speech he made to Harvard students. Sadly he did little to prevent it. James Gordon Brown was Chancellor of the Exchequer during “the longest period of growth” in the UK ’s history, but economists blame Mr Brown for encouraging soaring house price inflation and the spread of credit which fuelled the years of boom and led eventually to the current bust.
In a recent speech to the London School of Economics, George Osbourne, the Shadow Chancellor, said: "Our competitors used the fat years to prepare for the lean years. Britain did not. We are the least prepared country in the developed world to cope with the current financial turbulence. Our financial reputation has been badly damaged by the only run on a retail bank in the world. Our double deficits - external and fiscal - are worse than any other European economy. Taken together, they are worse than the United States." The blame "lies squarely and fairly with Gordon Brown", he concluded.
In a recent speech to the London School of Economics, George Osbourne, the Shadow Chancellor, said: "Our competitors used the fat years to prepare for the lean years. Britain did not. We are the least prepared country in the developed world to cope with the current financial turbulence. Our financial reputation has been badly damaged by the only run on a retail bank in the world. Our double deficits - external and fiscal - are worse than any other European economy. Taken together, they are worse than the United States." The blame "lies squarely and fairly with Gordon Brown", he concluded.
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