Wednesday, 2 March 2011

Mervyn King blames the banks....

Almost every time you see PMQs or any other ministerial statement, you hear the "it's all Labour's fault" Tory mantra. According to the ToryDems, the financial crisis was all Labour's fault and the cuts are all Labour's fault.

Until now I have suspected that Mervyn King, Governor of the Bank of England, had quietly endorsed that view and backed up his Tory masters in their repititions.

But, in today's Guardian, King blames the problem squarely on the financial sector. In the article, King;
"...told the Treasury select committee that the billions spent bailing out the banks and the need for public spending cuts were the fault of the financial services sector."

"...King has repeatedly pointed the finger at the City since the crisis erupted in 2007, but this was the first time he blamed bankers for the coalition's spending cuts."

The Governor also remarked that;
"The price of this financial crisis is being borne by people who absolutely did not cause it," he said. "Now is the period when the cost is being paid, I'm surprised that the degree of public anger has not been greater than it has."
So the next time we hear a ToryDem minister assert that it's all Labour's fault, we should immediately point him to the Governor's evidence.

It was the bankers wot done it and the public should be revolting....

interesting piece by Ben Chu at the Indy

No comments:

Post a Comment