Saturday 1 May 2010

A Few Facts About Gordon Brown

Sent to me by a person who was a life-long labour voter but says he will never vote labour again:

A few interesting facts about Gordon Brown

We used to have 6 independent regulators to regulate the different divisions of the financial services industry, including our Banks.
(Margaret Thatcher knew what the Banks were like and in the 1988 Finance Act she bound the Banks up in regulation to prevent them from being reckless!!!)

Then Gordon Brown became Chancellor on 6th May 1997

1. Gordon's banker friends said "We want all these regulators to go, we don't want regulators watching everything we do" AND GORDON SAID OK

So, Gordon announced on the 20th May 1997 (2 weeks after becoming Chancellor) that the six regulatory bodies would be broken up and a new Financial Services Authority would replace them. The FSA had virtually no powers over the Banks and he also took away the powers from the Bank of England to enforce regulation on them.
The result is the devastation we are all suffering today.
2. We used to have a Monopolies and Mergers Commission
Then Gordon's banker friends said we don't want the Monopolies and Mergers commission telling us who we can and can't "Take Over" AND GORDON SAID OK
So, in 1998 Gordon scrapped the Monopolies and Mergers Commission and created a replacement called the Competition Commission, with very much reduced powers and different ideas of what used to be regarded as a "Monopoly".

The result is the Massive Corporations we have today who are ruling and shaping our lives for their own benefit and profits. Not to mention the massive Monopolies held by some of these corporations through the forced purchases of all their competitors.

3. We used to have pension regulations, which included something called "The Pensions Cap".
The pensions cap set a limit on how much pension any scheme member (including directors) could get from an occupational pension scheme, irrespective of how high their earnings were. It was there to protect the ordinary members pensions. To prevent Directors paying themselves obscene salaries and then draining the pension funds with huge pensions.

Then Gordon Brown's banker friends said that they wanted the pensions cap removing so that they could get pensions related to their obscene earnings.
(The whole Pensions industry gave him warnings of the effects it would have. Even the Inland Revenue put forward objections)
Because Gordon never likes to disappoint his banker friends.

So Gordon took away the Pensions Cap in 2005 and then some of his friends were able to leave their boardroom positions with huge pensions!!!
For example Fred Goodwin was apparently entitled to a pension of over £700,000
If Gordon had left the pensions cap in place that would have been a mere £125,000
Well done Fred and your mates!!!

(The Superannuations Division of the Inland Revenue have kept a record of what it should be, in readiness for when we get a new chancellor who sees fit to re-instate it. George Osborne has pledged to do that). The record of Pensions Cap limits are available to view on the Revenue's website.

4. The result of this is that along with Gordon's "Tax Raid" on pension funds starting July 1997, over four thousand UK company pension scheme's have closed their doors to new members and many of them have had to close down altogether, leaving millions of workers without any pension provision. This man Gordon Brown "professes to be a socialist and "for" the working man.

The working man's main form of long term financial security had for many years been his company pension scheme, something to look forward to at the end of a life of hard work, his reward, light at the end of a long dark tunnel.
Gordon has put an end to that by destroying the most valuable asset of the average British worker.

5. It is one of the greatest travesties of justice that this man, who pretends to be 'for the working man' has in fact been his worst enemy for the last thirteen years and will leave a legacy that we will be clearing up for man years to come.
The real injustice is that it's all been done in areas which are totally out of sight to the general public and beyond the understanding of many.




Have you noticed that we were the first to be in it and are the last to be out (and whether we are out is very speculative!)

As he has openly admitted, The Royal Bank of Scotland was the world's biggest bank.
So when RBS and HBOS were about to go BUST in October 2008 and they had to be bailed out overnight so they did not take the entire country down with them, (that by the way was almost certainly a decision made by the hierarchy in Whitehall for which Gordon loves to take the credit).

As the world's leading banks now all lend money to each other on a collosal scale, isn't it obvious that the worlds biggest bank going down would have a devastating effect on all the others it dealt with. This "world's biggest bank" had also sold bad mortgage books to other banks.

Most of the Banks in Europe which ran into crisis were dragged into it because of the crooked dealings of our big banks. A fact that both Germany and France were quick to remind Gordon Brown of at the G20 emergency meeting shortly after the crisis.

There are many other of Gordon's indiscretions, far too many to list here, but perhaps the few biggies shown above will give some insight into how Gordon operates.

By the way have you noticed how he has suddenly become interested in Social Issues now an election is looming and seems to be able to promise the world when, as Alistair Darling put it a few days ago,
there is not a penny left in the bank!!!

Think very carefully before casting your vote for this man who is probably the most extreme capitalist of the past century while pretending to be "for the working man".



Shug Niggurath said...

Good read here.

Sophia Pangloss said...

Grim readin' SR, but great writin'.

It's tragic an' humblin' whit the man's done, but it disnae look like he'll be daein' much mair damage. Ye're talkin' aboot the least succesful PM since Douglas-Home, probably longer seein' as Douglas-Home didne wreck the global economy.

subrosa said...

Many thanks Shug. Not my writing but thought it was worth sharing with others.

subrosa said...

Evenin Sophia. Aye yer no wrang there. He's oan the road oot an no afore time. Mind, its gan tae be hard goin' fur years tae undae aw the mess he's din.

Sophia Pangloss said...

Did yer pal say anythin' aboot him bein' the antichrist?

subrosa said...

No a wurd Sophie. I dinnae think he's in tae religion. :)

Sophia Pangloss said...

Ah'll jist say fer the record ah'm no suggestin' he IS the antichrist, an wis jist curious.

(Ah'm no wantin' squads o' wee fat Labour pairty officials comin' tae ma door an' haranguin' me through ma letterbox. Ah'm in a respectable stair.)

Joe Public said...

The moral is: Gt Britain can't afford to have Gordon in any position of economic influence.

subrosa said...

Dinnae worry Sophia, as lang as yer up the stair an no oan the boatum ye'll be aw richt. I've heard they fowk dinnae 'dae stairs'.

subrosa said...

Joe, my concern is just how bad the books will be. Somehow I think Brown has just been sailing along spending, spending, spending.

The books could take years to straighten out.

Sophia Pangloss said...

The scariest thing is the 3 pairties reaction tae the FSI question.

Answer - nuthin.

They're no tellin' us whit they ken is comin' an' it's comin' roon the corner, May 7th likely.

subrosa said...

Eh kin hear Cameron gawn oan an' oan fur years aboot the mess he's been left Sophia. Startin 7 May richt enuff.

INCOMING!!!!!!! said...

SR I'm sure that GB also changed the rules, quietly, on the holding of gold in your pension stash when the metal was cheap. He's Goldfinger all right.

subrosa said...

Incoming, I read earlier today that Brown should have published some of the papers about the gold, before the end of April. (Sorry I've forgotten the source although I remember it was in the news a few weeks ago).

No sign of anything is there. Then of course, there's the business about bullion not being solid gold at all.

Anonymous said...

The only position I'd give Brownfinger is in a padded cell with a ornamental solid gold padlock on the outside of a permanently welded shut door.

Barking Spider said...

He's been running the Country the same way as he ran his bank account, (the one with the bouncing cheques), when he was a student, SR. ;-)

Anonymous said...

Good post, Subrosa!

And the C*NT still refers to the "global" financial crisis. Please will someone put us out of our misery and shoot him. Or at the very least, organise an investigation into his finances and find out what kickbacks he's had - or are in the pipeline.

Will iDave fix these problems? I doubt it.

McDoom is a political animal, wedded to winning, at all costs. (... at which he fails). He is unethical. He cares nothing for the "common man".

Your point 5 is spot on.

Point 6: LLOY languishes in the 60s, while other banks' share prices have soared. What was once an excellent bank is now a basket case. Well done, McDoom!

My Thoughts My Country said...

Brilliant find Subrosa.

I'm so angry at what Brown, and Labour, have done to this country.

I don't know how long it will take to get this once Great Country back on it's feet, but one thing is for sure, we must never let Brown, and Labour for that matter, forget the damage they have done to this country.

I am so angry I feel like we must stalk them and constantly remind them of how we feel.

subrosa said...

Auch Lorenzo, I wouldn't waste good gold on the padlock. Gold plating would do surely.

subrosa said...

Forgot about that BS. Good of you to remind everyone.

subrosa said...

Thanks Fausty. I think it'll take a lot longer than one term to get out of this mess. I just hope Dave's up front about how he's going to do it and not kid us.

Certainly there will be civil service jobs which must go. Labour have been employing more and more government staff since the recession.

subrosa said...

They should be allowed to run a country My Thoughts. I mean, the background of many is trade unionism not accountancy. I never understand why anyone who doesn't have a degree in accountancy can be chancellor. Many will say they have senior civil servants to do the work, but surely any government minister must understand his brief in some depth.

With this labour government there have been so many ministerial changes nobody can possibly know what they should have been doing.

It's all a sham.

Crinkly & Ragged Arsed Philosophers said...

A good post, well presented.

Unfortunately if Scotland accepts the blame can be laid at the door of Brown, it'll swallow placebos for effect without curing the cause.

Thatcher adopted the dogs of capitalism with its shock troops of monetarism. Believing, as she did, it was the national equivalent of double entry accounting for a county town grocery business.

She may have retained the banking regulators; but mainly for the purpose of maintaining some semblance of control over their retail function. I doubt if she was well informed on their casino banking ploys; concentrating on the value and stability of the pound in the money markets.

From then on money didn't fuel or encourage industry, it became - "The Industry." From that point, fuelled by America, Westminster bleated the economics of chaos.

Westminster, its Establishment and Unionist lackeys will love it if you limit blame to Brown. Do that and in their eyes even his demise will serve a useful purpose by taking the heat off the cultures who really deserve the roasting.

Would an independent Scotland have made the same mistake? That is debatable, and we have to accept greed is universal. Yet if RBS and BoS were working from the smaller national base, its arguable they would have been less cavalier in their greed to become world players.

However hypothesis isn't bothered by facts unless they can be used to advantage. In that sense it was Westminster and its systems that blew it big time and its Westminster we need to be rid of.

subrosa said...

From then on money didn't fuel or encourage industry, it became - "The Industry."

That's the crux of the whole mess. We behaved like it too and I doubt if an independent Scotland would have faired any better, although the problems may have been spotted sooner.

Crinkly & Ragged Arsed Philosophers said...

Fair enough Rosa, most did jump on to the band wagon.

But there's a world of difference between the rich feeding their greed and the poor feeding their need.

Your doubt and mine are understandable and probably valid, but in the pragmatic world of politics Westminster called the tune and danced to the dirty deed.

Amusing Bunni said...

Hi Subrosa. Brown is such a horrible crook.
I am so happy that you can be rid of him on Thursday. I hope you can reverse all these horrible policies and undo some of the damage of the last 13 years under Labour.

subrosa said...

Yes I would agree they did RA. But then, when has Westminster ever behaved in any other manner? They've always put greed ahead of need.

subrosa said...

Hello Bunni. Oh I do hope we're rid of him but let's not count our chickens before they're hatched. There are so many fiddles going on in postal voting Bunni that the reality of the situation won't be until the early hours of Friday.

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