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Starmer announces resignation as prime minister and leader of the Labour party
(www.theguardian.com)
this post was submitted on 22 Jun 2026
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UK Politics
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I thought I had left all the bullshit of that time behind after all these years, after I left Finance and after I left the UK, and here I am seeing once again one of the biggest pieces of bollocks spewed after one of the biggest systemic regulatory fuck-ups I've ever seen in any Industry up-close (from the front row, even, having been in none other that Lehman Brothers the day it went bankrupt).
Seeing this ridiculous claim again about a guy who I professionally believe that, as Chancellor during a period of de facto near non-existent regulation of Finance in the UK, has a seriously large share of the blame for the outsized amount of damage that Crash did to the UK (a gift which still keeps giving, since it's part of the chain of events that led to Brexit), might have pissed me off a bit.
Gordon Brown's time as PM was just a desperate rush to plug holes (same as in the rest of the World, though Brown did chose to have the rescued banks keep on self-regulating, a choice which I believe led to the subsequent Austerity), but his time as Chancellor was a shit show of incompetence and regulatory capture in Finance.
Again, I agree with you. But this "ridiculous claim" WAS made by economists like Krugman and others.
The more alarming aspect is that UK politicians - eapecially in Labour - are now calling for a return to pre-2008 levels of deregulation now because it's now "safe" to do so. Nothing is learned from history and it seems we are destined to repeat it.