Monday, 17 September 2007

Where's Goodtime Gordon Gone?

In the past few months we have seen Gordon everywhere but suddenly he's gone. We are in the midst of the first run on a UK bank in memory and Mr Prudent has disappeared ...

I actually feel sorry for Alistair Darling who has looked (literally) like a badger caught in the headlights. I hope that the guarantee offered tonight does stabilise the immediate crisis. But whether or not the queues at the Rock disperse many homeowners across the UK are facing mortgage increases they never contemplated and the trust of ordinary savers has been broken (again).

No doubt when England win the Rugby world cup (ever positive here) Gordon will be back... Has Mr Prudent become "Goodtime Gordon" - your fairweather friend?


Malcolm said...

What a sorry mess GB has created. How can the treasury underwrite a private company like that? They didn’t help MG Rover – why Northern Rock? Very strange - it just seems like desperate attempts to prop up the debt driven economy. I wonder if the man on the street actually sees this as a result of global economics, or domestic policy, or just NRock being unlucky and getting caught out? Perhaps it really is the global economy, but then wouldn’t other countries be getting into trouble too?

Vicky Ford said...

Malcolm - a good point. Trust takes a long time to build and only minutes to lose. Over the past days many have lost their trust in the UK banking system and mortgage payers are suffering too.

Provided the Rock's mortgage book is sound then the treasury should not lose any money. The Fed (in the US) anticipated similar situations over there weeks ago and provided emergency funding ... why did UK savers have to camp out on the streets before our government reacted?

Cllr John Ward (Medway) said...

I now have a very strange mental image of Alistair Darling with badger markings on his face...

By the way, Alistair wasn't our residents' darling when he was proposing a huge international airport at Cliffe on our Hoo Peninsula!

Anyway: it has long been a characteristic of Gordon B to appear only when the news is good, and to vanish (and let others deal with the flak) when things go wrong.

It certainly isn't something that came in with his premiership, as you will already know; but I thought you might be heartened to know that others "out here" also realise how he behaves, and (in my own case, at least) have been aware of it for some time now.

He doesn't seem to have the guts to face up to his own misdeeds and poor judgement. What a coward!

Mountjoy said...

During the social breakdown crisis around the time of the murder of Rhys Jones, both Gordon Brown and Jacqui Smith were very silent.

As I have written on my blog, Brown is as much to blame for this financial crisis because he has encouraged debt in order to create an economic boom.

He says there will be no more Boom and Bust, but there's a bust coming, mark my words.

That's why he's gone into hiding.