Brown considering City bonus curb

[AtW]

I don't see the connection between the article that you quote and your own line.

I think (for once) he is right. I don't think that he can do anything about it, but at least he is saying the right things.

Yes he is right. But he is not the guy in opposition or even you or me - he was in power for the last decade and he was allowing this BS to happen. So now suddenly he says it is wrong? Well, it was under his watch! He can't even blame Blair for that - he was the Chancellor! Let me quote: "The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters".

For what happens now Brown should be sent to jail as a warning to future politicians that there is a price to pay for not even mistakes but willful manipulation of economics in order to extend the bullrun so that he could become PM.

[tim123]

Brown considering City bonus curb
By Brian Wheeler
BBC News, Labour conference, Manchester

Gordon Brown has told the BBC he is considering a crackdown on "irresponsible" City bonuses.

The prime minister told BBC One's Andrew Marr show the bonus culture encouraged "excessive" risk-taking. (AtW's comment: he is right for a change. Why he did not realise it for the last 10 years when he could do something about it?)

He said it was difficult to regulate as bonuses were part of a global system, but the Financial Services Authority was looking at possible curbs.

He also admitted he had to "do better" as PM but he still thought he was the best person to lead the country.

Mr Brown, who is in Manchester for Labour's annual conference, once again stressed his economic experience and hailed the government decision to introduce a temporary ban on speculative "short selling" aimed at boosting stability in the markets.

And he said the financial crisis of the past week had given him the opportunity to renew his push for reform of the global financial system.

Mr Brown said: "We are a pro-business government, we are pro market. But it will help business best if we can clean up what went wrong."

Asked if "greedy" City traders had let down the country he said: "I think it's fair to say there's been a great deal of irresponsibility." (AtW's comment: he is right again, but he was Chancellor and should have done something - in fact he just encouraged this behavior so he is as guilty as them if not more)

"We have to recognise that mistakes have been made in the city but principally in America - this has come out of America."

He added: "I think there's an element of the bonus system that is unacceptable. We you get bonuses and salaries based on short term deals rather than long term performance then you have to look again at what the system is doing."

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I hope he will get it from both barrels at the next election - hope he will lose his own seat as an MP

I don't see the connection between the article that you quote and your own line.

I think (for once) he is right. I don't think that he can do anything about it, but at least he is saying the right things.

It's a much because he didn't say, as do, the right thing, in the preceeding 10 years that's the cause of where we are!

tim

[AtW]

Brown considering City bonus curb
By Brian Wheeler
BBC News, Labour conference, Manchester

Gordon Brown has told the BBC he is considering a crackdown on "irresponsible" City bonuses.

The prime minister told BBC One's Andrew Marr show the bonus culture encouraged "excessive" risk-taking. (AtW's comment: he is right for a change. Why he did not realise it for the last 10 years when he could do something about it?)

He said it was difficult to regulate as bonuses were part of a global system, but the Financial Services Authority was looking at possible curbs.

He also admitted he had to "do better" as PM but he still thought he was the best person to lead the country.

Mr Brown, who is in Manchester for Labour's annual conference, once again stressed his economic experience and hailed the government decision to introduce a temporary ban on speculative "short selling" aimed at boosting stability in the markets.

And he said the financial crisis of the past week had given him the opportunity to renew his push for reform of the global financial system.

Mr Brown said: "We are a pro-business government, we are pro market. But it will help business best if we can clean up what went wrong."

Asked if "greedy" City traders had let down the country he said: "I think it's fair to say there's been a great deal of irresponsibility." (AtW's comment: he is right again, but he was Chancellor and should have done something - in fact he just encouraged this behavior so he is as guilty as them if not more)

"We have to recognise that mistakes have been made in the city but principally in America - this has come out of America."

He added: "I think there's an element of the bonus system that is unacceptable. We you get bonuses and salaries based on short term deals rather than long term performance then you have to look again at what the system is doing."

------

I hope he will get it from both barrels at the next election - hope he will lose his own seat as an MP