Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Gordon Brown: financial crisis would be over in 6 months
Gordon Brown, former British Chancellor of the Exchequer, former Prime Minister, and self-proclaimed financial mastermind, based Britain's disastrous economic policy of easy credit to be funded by never ending growth on the idiotic belief that the global market crisis would last just 6 months.

He was also a foul-mouthed bully tolerated by talentless but ambitious sycophants. But we knew that already.....

Quote:Gordon Brown thought economic crash would be 'over in six months' Alastair Darling claims in bombshell memoirs

Schemed with David Miliband of ways to 'get rid' of former prime minister

Says on Andrew Marr interview that senior Labour politicians 'should have done something' about Mr Brown's leadership

Accuses Brown of running a 'brutal regime' and running government through a cabal
Claims No 10 almost jeopardised plan to salvage banks

Reveals how he was forced to present budget which had no 'credibility'

By Anna Edwards

Last updated at 3:00 PM on 4th September 2011

Former chancellor Alistair Darling's explosive memoirs reveal how former prime minister Gordon Brown was convinced that the world's worst recession would be over in just six months crisis.

Mr Darling's forthcoming book, Back From The Brink: 1,000 Days At Number 11, also exposes how he and former foreign secretary David Miliband schemed to 'get rid' of Mr Brown, whose time in power was marred by hostility and crises.

In an extract from his forthcoming memoirs featured in The Sunday Times newspaper, he claims Mr Brown led a brutal regime and accuses him of being in complete denial about the extent of the world's worst financial crisis.

He paints a bleak picture of the 'chaos' at the centre of Gordon Brown's Labour government - and accuses the former prime minister of being severely deluded about the depth of the financial crisis.

He writes: 'He is a man capable of huge gestures of generosity, but he seemed to have no conception of the effects of his sometimes appalling behaviour on those close to him, or of the political damage his way of operating - indirectly, through a cabal, could cause.'

He recounts how he and the former prime minister would frequently clash over finance and alleges he was forced to produce a budget that lacked credibility.

As an example of how his advice was rebuked, Mr Darling recalls giving an interview in which he correctly predicted that the downturn was the worst in 60 years, and that it would be more profound and long-lasting than people thought, but his comments were promptly dismissed by the government.

He writes that the No 10 'briefing machine' told journalists that he had 'made a hash of it'.

Mr Darling adds that Mr Brown refused to listen to the then-chancellor's warnings and did not trust his advice.

He writes: 'If I had known that Gordon believed that economic recovery lay around the corner - if he'd told me, his chancellor, this - then we could have had a discussion about it. The problem was clearly he did not trust my advice, and now he appeared indifferent to what I thought.'

Former chancellor Alistair Darling says trying to produce a budget was extremely difficult as No 10 kept ordering him to make changes
'No-one wanted to acknowledge that we were heading for an extremely serious downturn... I was condemned for having said no more than was true.'

The 'dark days', serialised in The Sunday Times newspaper, were a defining moment in his relationship with Mr Brown, who he used to be friends with.

And, speaking in an interview on BBC1's Andrew Marr show today, he said it was this bitter fall-out, with profound disagreements at 'the very top', that cost the Labour government their seat in power.

He and then Prime Minister Gordon Brown were so clearly at odds over economic policy that it damaged the party going into the 2010 general election, Mr Darling said.

'We could have come through this. We didn't because there was a disagreement at the very top,' he said.

'If you don't have a credible economic policy you are simply not at the races, and our problem was it was so blindingly obvious to the outside world that the two of us - Gordon and myself - were at odds that it really hampered us when it came to the election in 2010.'

'If you want to criticise us collectively perhaps we should have done something but... I'm afraid, for me, despite everything and if Gordon's listening to this he may find it difficult to believe, but I had a residual loyalty which I found it difficult to overcome.'

In the extract from his book Mr Darling writes that Mr Brown's 'sometimes appalling' behaviour meant those who dared questioned his policies and decisions fell foul of the regime.

He says the 'shambolic' nature of Mr Brown's government stemmed from the former prime minister's chronic inability to make a decision and how Labour stumbled from crisis to crisis under his leadership.

'The management of Gordon's time by No 10 was, from my perspective, hopeless. There was a permanent air of chaos and crisis.'

In the Andrew Marr interview Mr Darling acknowledged that 'perhaps' senior Labour politicians should have 'done something' about Mr Brown's leadership.

He revealed in his book that he and Blairite David Miliband plotted in a secret meeting ways to oust Mr Brown.

In the extract in the Sunday Times newspaper, he said the pair met in an Essex farmhouse and after discussing ways to push Mr Brown out of the top seat, realised he would not go voluntarily and there was no alternative leader, so they would have to grit their teeth and endure his leadership.

Alistair Darling says his friendship with Gordon Brown was shattered during his time as chancellor in the Labour government

The hotly-anticipated book gives a keen insight into the 2008 financial collapse, painting a stark picture of the government manically rushing to try and save the banks, while no 10 wavered over what to do.

He also claims that No 10 nearly jeopardised negotiations to reach some sort of deal over the crisis when they initiated their own discussions with the banks.

Opening up: The memoirs reveal the turbulent days during Labour's last few years
Mr Darling claims when he tried to discuss this with Mr Brown, he was ignored and when a deal to save the banks was reached, the former prime minister claimed credit for it.

But the former chancellor argues that it was under his instruction that the Treasury drew up the agreement.

He also recounts how the then prime minister gave him the post of chancellor in 2007 but stressed it was only temporary, much to Mr Darling's bewilderment.

He says he could not understand why Mr Brown didn't select his 'protege' Ed Balls, who he depended upon for economic guidance.

He describes how, despite his prominent position, he was frozen out of policy discussions and was constantly ordered by No 10 to make changes to the 2009 budget, having to constantly rewrite it until the very last minute.

In May 2009 Mr Brown wanted him to be moved to a different position to make way for Ed Balls.

But he refused to be reshuffled, despite an offer by Mr Brown to bump David Miliband out of the foreign secretary role and hand it to him.

The Conservatives attacked today Labour, claiming the party was firmly in denial over Britain's economic problems following publication of parts of the memoirs.

A spokeswoman for the Conservatives said today: 'Gordon Brown refused to acknowledge the seriousness of the UK's economic position and his protege Ed Balls is still in denial about it.

'Today's crop of Labour politicians have not learned from the mistakes they made in maxing out the nation's credit card.

'That's why Ed Balls continues to call for more spending and unfunded tax cuts even when Britain has a record budget deficit to deal with.'

Mr Darling's book, Back From The Brink: 1,000 Days At Number 11, is to be published on September 7.

Read more:
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war

Possibly Related Threads…
Thread Author Replies Views Last Post
  Conjuring Financial Destruction Through Utter Elite Selfishness & Greed David Guyatt 0 6,489 11-09-2018, 02:01 PM
Last Post: David Guyatt
  Starikov: Banksters Began the Dismantling of the Global Financial System Paul Rigby 2 5,473 22-08-2016, 09:38 PM
Last Post: Paul Rigby
  Golem XIV: The Next Crisis Lauren Johnson 3 3,410 22-10-2014, 08:41 AM
Last Post: David Guyatt
  A crisis in Wonga and pay day loan scams David Guyatt 0 2,402 05-10-2014, 10:35 AM
Last Post: David Guyatt
  Lars Schall - “The people causing the crisis are the ones who stand to gain the most from it” R.K. Locke 2 3,275 06-09-2014, 09:50 AM
Last Post: David Guyatt
  Three bankers on trial for financial crash David Guyatt 3 2,327 06-02-2014, 10:24 AM
Last Post: David Guyatt
  Gordo Brown tells Mervyn King he's talking f***ing b***locks in US financial spy scandal David Guyatt 0 2,037 25-09-2013, 11:02 AM
Last Post: David Guyatt
  The confidential memo at the heart of the global financial crisis Lauren Johnson 6 3,267 26-08-2013, 10:58 PM
Last Post: Lauren Johnson
  US Banks' Lobbyists Help in Drafting Financial Bills Adele Edisen 7 3,044 26-05-2013, 11:51 AM
Last Post: Jan Klimkowski
  Case study of the banking crisis - Japan's "Lost Decade" David Guyatt 2 4,745 16-05-2013, 01:26 AM
Last Post: Magda Hassan

Forum Jump:

Users browsing this thread: 1 Guest(s)