While David Cameron is keeping his head over the credit crunch, Gordon Brown appears to be losing his. If he wants to “save” the Lloyds-HBOS deal he should stay well away from it. The Lloyds shareholders will see no greater sign of alarm than Brown’s endorsement. His blaming of America for the credit crunch looks desperate: if a house of cards collapses, do you blame the gust of wind, or the construction?
Cameron is speaking directly to the public here, and his “decade of debt” narrative is one with which the indebted British household will be only too familiar. I say in my column tomorrow that Brown is using an old Tory trick: offering blood, sweat toil and tears to the voters which seems to be precisely the prescription, under the rapidly-changing circumstances.
But Brown is really offering blame-shifting, obfuscation, attempts at forced marriages between banks and a mountain of debt.
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