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But I'd make the additional comment that Brown is labelled "traditional labor", and all his failures are linked to that not so subtly.

Everything that worked under New Labor was thanks to the rightwing ideology they spewed, and everything that went wrong is caused by the left wind policies they occasionally pursued... Being a pundit is so easy...

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Feb 17th, 2008 at 01:19:09 PM EST
[ Parent ]
Well, I have had a meeting in Newcastle with the boss of Northern Rock Foundation lined up for Tuesday lunchtime, but I can't see it going ahead now....

Still, this outcome is the best possible from the point of view of an unconventional approach which could save the government some face and maybe even give shareholders a better return.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Feb 17th, 2008 at 01:36:00 PM EST
[ Parent ]
ChrisCook:
which could save the government some face

That's the last outcome I'd expect from this.

It's a political disaster - especially for Darling, who will be moved on soon, and Brown, who has just lost the next election.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Feb 17th, 2008 at 02:12:20 PM EST
[ Parent ]
I don't understand the association of Brown with "traditional labour", much tho' I accept it as a real phenomenon.

Brown is a convinced neoliberal. He was converted in the mid-90s and has remained of the true faith ever since. His only ragtag protestation of labour credentials is that he was initially dubious about the Iraq invasion, largely because he saw it as a risk and he is nothing if no risk averse. Okay he was no neocon...big deal.

But that don't make a labour-ite. Heck I don't even know what a trad labour person would sound like in the 21st century, we haven't had any new ones since the 70s generation took Murdoch's shilling.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Feb 17th, 2008 at 02:29:17 PM EST
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he was Blair's Chancellor for 10 years, after all.
But this is what I see in the media lately: the UK is doing badly because it's turning socialist again.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Sun Feb 17th, 2008 at 03:21:04 PM EST
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In other words, the "left" has lost the battle of narratives on the financial crisis already, without firing a shot.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Sun Feb 17th, 2008 at 04:08:05 PM EST
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I could have sworn Northern Rock Plc was a private sector failure: silly me.

You can imagine what would have been said had it been - shock horror - a mutual.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Feb 17th, 2008 at 04:15:38 PM EST
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Isn't Brown personally responsible for demutualization? Didn't Abbey's demutualization also lead to failure a few years ago so that it ended up bought out by a foreign banking group?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Sun Feb 17th, 2008 at 04:47:01 PM EST
[ Parent ]

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