The Treasury’s mistakes

Posted on

As the Guardian notes today, the Bank of England is facing calls to publish a full account of how it handled the financial crisis after the Treasury admitted it had made mistakes when the UK's banking system was on the brink of collapse.

It did, but the biggest mistake is ongoing. I well remember a person of senior rank telling me in 2009 "We have to revive Anglo-Saxon capitalism. It's the only model we've got".  And that is still the problem. They still think it's the only model we've got and they're still trying to revive it.

The commentator has been rewarded with a move to the Cabinet Office. She should fit in very well there.