Blogging from the Highlands of Scotland
'From fanaticism to barbarism is only one step' - Diderot

Friday 10 October 2008

The UK government and its slowness to act over Icelandic banks

I've castigated our Labour government often in the past (including earlier today) for their fundamental lack of understanding about how markets work, but this article about queries and warnings the government had received in July illustrates even more clearly just how hopelessly complacent they were a few months ago when perhaps they might have begun to take steps to protect British depositors, whether private, charities or councils. Notice at the end of the linked article the weasel-like obfuscations of the junior Treasury minister responding to questions in July from the Parliamentary Treasury Select Committee.

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