Gordon Brown backs US bank bail-out plan

[T_i_B]

Source: BBC

Gordon Brown has pledged his support to America as the US government battles to reach a deal to stabilise its economy.

Emergency US talks are continuing on a $700bn (£380bn) bail-out plan aimed at reviving the finance sector.

The prime minister, who met US President George W Bush at the White House on Friday, said the deal was "the right thing to do". Mr Brown earlier called for an end to the "age of irresponsibility" in the global financial sector.

After 90 minutes of talks with the president, Mr Brown said the US deserved the support of Britain and the rest of the world in the measures it was taking as part of its economic rescue plan.



Read more: http://news.bbc.co.uk/1/hi/uk_politics/7639031.stm

[dipsydoodle]

1. That's very kind of him

considering that a sensible proposal has yet to be reached. He's "doing a Blair" for his master - what a tosser.

[T_i_B]

2. I'm not sure it's the British government's business....

...to be publicly declaring support for the baleout bill anyway. Surely it makes far more sense from a UK perspective to wait and see how things pan out with regard to the baleout?

And besides, I can't see too many US congressmen being persuaded by Gordon Brown at the moment anyway.

[kirby]

12. London is THE financial center for a lot of these complex transactions n/t

[tblue]

3. In the world's eyes, we are pathetic.

Thank you, Republicans.

[Dr.Phool]

4. Bush found another poodle.

After his last one was euthanized.

[Phred42]

5. The British Central Bank has a huge stake in the US banking system

Of Course he wants this to happen.

Brown is very generous with OUR money

[western mass]

6. Gordon Brown's personal popularity hits historic low

http://www.telegraph.co.uk/news/2481215/Gordon-Browns-personal-popularity-hits-historic-low-poll-shows.html

"Barely one voter in seven believes he is fit for the job of prime minister, the YouGov survey indicates."

The article's two months old...but if anything, he's only gotten more unpopular.

[FarCenter]

7. The "age of irresponsibility" began under Maggie Thatcher

Even now, the crises may be more centered on London than New York.

It is the international dollar market centered on London where the credit has seized up.

[Indenturedebtor]

8. Don't they pretty much have the same issues going on with their banking/mortgage market?

And I'm glad to see that you've offered your moral support :eyes: Come on.

[T_i_B]

15. Another British bank (Bradford & Bingly) has just been nationalized

[LeftishBrit]

17. Yes. We're all in this mess together...

though those countries such as France which have greater regulation of finance are in less of a mess.

And the Thatcherites here, including those in the Labour Party, have been so enthusiastic about privatization, and the idea that government and public institutions should be more like businesses and private industry, to be more 'efficient' - HUH! Since Thatcher, we hardly have any industry, private or otherwise; it's all finance and marketing; and we can see how 'efficient' the financial sector is!

[Vanje]

9. Yeah. Well, Its not his money, is it!?

If Gordon Brown wanted to provide the 700 Billion, Id be all for it.

[Irish Girl]

10. odd

Haven't we been down this road before, just like Tony Blair accepted Bush's Weapons of Mass Destruction? Hmm, I'm seeing a pattern here ... Since he's so supportive of this, is he offering the bailout dough? Cheerio chap.

[bemildred]

11. Well, that's the kiss of death. nt

[michaz]

13. Let him pay for it then! n/t

[carla]

14. He supports it

because it gives foreign banks access to the bailout money out of our wallets. Cretins and conspirators robbing the weak to make themselves solvent again. V V V V VVVVVVVVVVVVVVVVVVVVVVVVVVVVV!!!!

[LeftishBrit]

16. Actually he supports it...

because he doesn't want Britain to go down to financial ruin. Which, in a global economy, it would if nothing at all is done.

I don't know that the bailout is the best solution; and I don't know if Gordon should have been offering comments on American domestic decisions at this stage; but let's not pretend that we wouldn't all go down together in the event of a major bank failure.

There does need to be much more international regulation over banks and the amount of profits that the bankers can make at the expense of everyone's security.

[Doctor_J]

18. Gordo's a poodle from the same litter as Blair

I wonder if he's got a Carlisle gig waiting for him when he gets the boot later this year