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Brown responsible for bank chaos.

REGARDING the letter by M Brady, a blinkered report on how innocent and blameless Gordon Brown was in the financial crash of 2010.

It is hogwash to say that Labour and Gordon Brown played no part in the crash. He was personally responsible for changing the banking regulations which allowed the banks to run riot. He personally took the control of banking oversight away from the Bank of England and transferred the powers of regulation to the FSA.

This body was established on his first day as Chancellor in 1997 and was criticised and savagely attacked by financial institutions for its part in the banking collapse. Indeed, Gordon Brown is on record as admitting he made a "big mistake" over the handling of financial regulations in the run up to the banking crisis of 2008.

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Publication:Evening Chronicle (Newcastle, England)
Date:Jun 19, 2017
Words:137
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