Apparently all our troubles began in America with all those sub-prime mortgages. Is it not nearer the truth that Britain's banks saw a product, thought they could make a profit but unfortunately got their fingers burned?
Was the fractured system of regulation involving the Bank of England, the Financial Services Authority and the Treasury anything to do with America - I don't recall them setting up the system.
Were there Americans in the boardroom of Northern Rock forcing the directors to write mortgages in excess of a property's worth? Was Gordon Brown told by Americans, when the problem first arose with Northern Rock, "Dither, something may turn up". The indecision shown at the time was not an American illness, rather more a Scottish illness.
As posted previously, now we have Gordon Brown saying he did not know what was going on with the banks and did not know what was going on behind the scenes.
It amazes me that he seems to have no idea of the cause for all our ills - suggestion: Gordon, go look in a mirror!