UK economic foundations crumble

“My administration is proposing a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.”   That is what President Obama said about the US system.   By contrast Labour Government Minister Alistair Darling said that the UK financial regulatory system did not need to be changed.  The Governor of the Bank of England disagreed with Chancellor Darling publicly and IN THE SAME ROOM, directly criticising the Chancellor’s ineffectual spin-based ‘reforms’.  Please, someone…save us from this paralysis and incompetence. My country is rapidly going down the tubes and, horror of horrors, we have another year of this to go.

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