Brown's get-out plan
Peter Hoskin 3:21pmIs this the sound of Brown changing his story? Seems to me he's deploying a slightly different version of his "I'm trying to get other world leaders to follow my lead" theme. Here's what he said in a BBC interview earlier, explaining why the fruits of his financial labours will only start showing up in the medium term:
It's a subtle but significant shift. The implication being that if other countries don't do "whatever it takes", then our bailout may not have the effect our Dear Leader expects it to. It's his get-out-of-jail-free card - only it may not work like that. If the success of our bailout was and is conditional on the actions of other countries, then taxpayers may not look too kindly on Brown stumping up £400 billion of their money without getting other world leaders on board beforehand."What we need now - as I said this morning - is other countries to do similar things [to our bailout package], because this is a global financial system."
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Dirty Euro
October 10th, 2008 4:19pm Report this commentThe Gramm-Leach-Bliley Act was the buill that repealed the glass stegal bill. Both Gramm & Leach were republicans the bill was passed on party lines by the republicans.
The bills passed the Senate on a 54-44 vote along party lines (53 Republicans and one Democrat in favor; 44 Democrats opposed).
David C
October 10th, 2008 4:19pm Report this commentThat is a poisonous combination; a mendacious PM and a mendacious broadcast organisation.
The backdrops of a new reality are rolled into place before our eyes.
Paul B
October 10th, 2008 4:42pm Report this commentDE- what has that got to do with the subject Peter has written about, which is namely Bully Boy Brown Bottling & Backtracking, like the incompetent he is.
Sir Humphrey Bumfluph of the Treasury
October 10th, 2008 4:56pm Report this commentGood news! As part of his firm, world-leading, non-dithering policy change, the Prime Minister has ordered me to seize all the assets of Iceland.
I've just come back with the bailiffs and can announce, exclusively to the Spectator, that I have in my hand enough frozen peas, ready meals and fish fingers to recapitalise the whole of English local government. Just rejoice at that news! Peace, or rather Peas, in our time!
Bob.India
October 10th, 2008 5:09pm Report this commentJanet Daley writes brilliantly on http://blogs.telegraph.co.uk/janet_daley and provides another dimension to the current machinations of Brown and others:
"Well, we have all learned something this week. And it is not the lesson that Gordon Brown wants us to take away from the experience: the Brown homily is that Government must step in and provide the remedy where the market has failed. Only the power of the State (or, even better lots of States working together) can ensure that free market economics is carried on within the bounds of civilised behaviour, and thus provide security for all the innocents who may get caught up in irresponsible panic.
Sorry Prime Minister, that is absolute bollocks. The uselessness of central government intervention has been the real revelation in this chapter of economic history: whether they take the form of guarantees, or buy-ups or bail-outs, the various government programmes have been shown to be pretty much irrelevant to the market. So long as individuals are free to make their own judgments, they will choose to regain confidence in the banking system when they are damned well ready and not before.
So just wait for the next move on the part of the putative World Government which the G7 is likely to promote in its public communications: democracy as we have known it may have to be suspended for the duration.
The times, they will imply, are too dangerous to permit economic freedom. But don't be seduced by the demand for some new expedient brand of totalitarianism: the markets will recover because eventually people must start to do business again. And when they do, a lot of proper lessons will have been learnt - but that education process will only serve its purpose if we have not given up on the idea of free enterprise and on the value of human ingenuity and resourcefulness."
Sir Humphrey Bumfluph of the Treasury
October 10th, 2008 5:56pm Report this commentCorrection! I've been badly briefed. Turns out HMG is not in dispute with Iceland the well-loved plucky British purveyors of frozen food to the masses. I am authorised to say that we will do "whatever it takes" to return their frozen peas, fish fingers etc etc and I'm very sorry about what my bailiffs did to one of their refrigerators.
Anyhow, turns out we're in dispute with Iceland, a large island located several hundred miles north of Chalfont St Giles, and the PM wants me to toddle up there with some bailiffs to grab as many sofas, TVs, toasters and so forth until I've got enough to pay off Somerset County Council and all the others.
Unfortunately, the Treasury's credit card has just bounced at Enterprise Rent-A-Van and I'm in a bit of a fix. Can any loyal Spectator reader out there lend me a spare lorry and some bin bags for the weekend?
Sir Humphrey Bumfluph of the Treasury
October 10th, 2008 6:29pm Report this commentThinking ahead a bit - I could also do with a boat.
David C
October 10th, 2008 6:45pm Report this commentBe careful Sir Humphrey.
The Icelanders are the very devil with those trawlers of theirs (probably explains why they had that Terrorist Legislation used against them).
JONNY
October 10th, 2008 7:02pm Report this commentVery worrying our PM these days.
A serious matter for serious concern.
And then - why do I keep on thinking of that movie with Bogart as Captain Queeg?
And those Queeg balls he took out and rolled between his fingers. To and fro, To and fro.
And everyone in the courtroom understands this guy is spectacularly nutters.
Surely it might help if our Great PM had his very own pair of Brown Balls. And he can roll them to his heart's content between his manic nail-bitten fingers.
Sir Humphrey Bumfluph of the Treasury
October 10th, 2008 7:31pm Report this commentHello everyone. The spirit of Dunkirk is not dead! A thoroughly decent cove, a Mr Honest Ron, was able to give me a lift in the back of his van along with some delightful Albanian girls who are over here to join our leisure industry.
I am now at a place called Newport Pagnell on a road known as the M1, which I thought was something to do with the money supply (always found that technical stuff a bit dull; never got the hang of it).
Unfortunately Mr Ron had to leave urgently when some policemen arrived, and I'm a bit stranded here with the fragrant Dagmar. Could somebody come and give me a lift a bit nearer to Reykjavik?
Failing that, could any one lend me a spot of cash for bail as I have to see some magistrates in the morning. Seems the Treasury is a bit light on the folding stuff at the moment.
Hysteria
October 10th, 2008 7:35pm Report this commentI say to Sir Humphrey "HUZZAH" and may God and St George be with you in your epic quest.
Truly in the annals of these great islands we call home your exploits will be lauded and praised - HUZZAH !
Tiberius
October 10th, 2008 8:33pm Report this commentNo get of jail cards for Gordy.
It is well known, particularly because he keeps telling us so, that he is almighty. World leaders ring him all the time for advice.
So if all the other premiers don't follow his advice, it's because he's failed in his self-proclaimed quest.
No excuses, Mr Delusional. No shepherd can blame his flock if the wolves win.
Nicholas
October 11th, 2008 11:11am Report this commentDelusional but expert at ducking responsibility and passing blame. The Labour party and the New Labour government. When plaudits are due it is only to Labour, when the cloud of brickbats arise it is anyone but Labour.
What always surprises me is the extent to which some people are taken in by this horseshit.
If ever a little boy was needed to point the finger at the "Emperor" in his "new clothes", now is the time. Who, one wonders, will it be to set the Labour house of cards tumbling? Not, it would seem, Mr Cameron or his Tories.
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