Deputy governor of the Bank of England admits on Panorama tonight that the Bank simply did not understand the credit crisis. Leaving aside the question of how public servants like him get knighthoods, at least Sir John is honest about the Bank’s incompetence. Merv the Swerve should resign for the Bank’s failings. Worse still, the Government, primarily

Here’s a poser that came to me as I was watching the news last night. I know it’s silly counter-factual thinking, but what exactly would be going on if Tony Blair was still in charge? How would the credit crunch headlines be playing out if Teflon Tony was still at the helm and Brown was still playing second fiddle, and having to deal with the financial crisis? Would Ken Livingston be proposing...

Tony Blair and Formula 1, a link that is a bit odd really. Until you learn of the massive corruption that has been under reported. And this is what really fucks me off about the whole thing. For those of you that haven’t heard, Tony Blair is to be investigated by the Speakerinto ‘allegations’, or facts

For a good few months I have wondered whether Tony Blair, who desperately clung to office in his final years and wanted to stay longer, now believes he left 10 Downing Street at precisely the right moment. The former PM must surely be relieved he is not having to cope on a day-to-day basis with the severest economic downturn many can remember and that the credit crunch happened, to use a phra...

What goes around comes around, and it easily forgotten why the Bank of England was stripped of its authority in these matters in the first place. Under the Bank’s watch, there had in short order been two notable failings in oversight – the Bank of Credit

The European Central Bank's quarterly survey of bank lending, to be published tomorrow (29 July), will show that credit conditions are stabilising. But this assessment is at odds with complaints by businesses that bank credit is hard to get.

Tony Blair has set up a company that can provide investment services to funds and individuals.

Tony Blair's close relationship with one of Col Muammar Gaddafi's sons - Saif al-Islam - who is now being hunted for possible war crimes, is highlighted in previously secret documents discovered in Libya.

Asked how incandescent the Prime Minister was that Tony Blair had met the new President, the PMS replied that Tony Blair was the Quartet Envoy and it was important for the Quartet and important for UK interests that he had a close relationship with the US administration. original source.

It seems that Japan has also fallen victim to the dreaded credit crunch… the news from over there makes grim reading indeed: Oragami Bank has folded Sumo-bank has gone belly up Bonsai Holdings has announced plans to cut some of its branches. Karaoke Bank is up for sale and will probably go for a song Shares in Kamakazi Bank were suspended after