The Spectator

Brown’s bank job

It is a shame that Gordon Brown said in parliament that he ‘saved the world’ when he meant to say ‘saved the banks’, because the latter proposition is the more preposterous.

issue 07 November 2009

It is a shame that Gordon Brown said in parliament that he ‘saved the world’ when he meant to say ‘saved the banks’, because the latter proposition is the more preposterous.

It is a shame that Gordon Brown said in parliament that he ‘saved the world’ when he meant to say ‘saved the banks’, because the latter proposition is the more preposterous. After more than a year of throwing our money at the banks, the Prime Minister has fixed nothing. He simply stopped a run on the banks by putting the British taxpayer on the hook for all of their losses. Since then, banks like RBS and Lloyds have used taxpayers’ money to fill the holes they blew in their balance sheets — with the latest bill, the latest bailout, coming to a staggering £31 billion.

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