Hold onto your hats boys!

[aidanjt]

Cameron hints at blocking Brown bid for IMF job

The prime minister said someone who "didn't know we had a debt problem in the UK" might not be the "best person" to run the global finance watchdog.

Mr Brown has been linked with the IMF job in press reports, but Mr Cameron told the BBC the IMF required someone "extraordinarily competent".

However, Labour leader Ed Miliband said Mr Brown was "eminently qualified".

He added that the former Labour prime minister's role in dealing with the global economic crisis of 2007/8 had been "outstanding".

And economist David Blanchflower, a former member of the Bank of England's Monetary Policy Committee, suggested Mr Cameron's stance was "vindictive" and "small-minded".

The UK and other major economies have an effective veto on the appointment of the IMF's managing director.

The incumbent, France's Dominique Strauss Kahn, is expected to step down soon, amid much media speculation that Mr Brown, who resigned as UK prime minister after his party lost last year's general election, could replace him.

Can we say:
?

[[GSV]Trig]

Well if he learns from his mistakes he'd be excellent for the job..
As PM he could blame the previous government, however when the same government has been in power that long the only person a PM could really blame would be the Chancellor of the Exchequer, there in lies his problem

[Brucelles]

I find it scary that Labour continue to say that he's fiscally responsible, just because he led the recapitalisation of the banks.

He also screwed the country into debt, running a deficit during a boom, and in the finest example of financial mismanagement I can remember, he sold 400 tonnes of our gold for a derisory US$256 - US$296/oz and now it is worth US$1,460/oz. In other words he sold our historic gold reserves for less than 20% of their current value.

There are about 32,150 troy ounces /tonne so he sold off 400 * 32150 = 12,860,800 oz at a generous average price of 276/oz.

The original sale therefore realised the government 12,860,000 * $256 = $3,549,360,000.

Nowadays the gold is worth 12,860,000 * $1,460 = $18,775,600,000, thus Gordy made a net loss of $15,226,240,000. With today's exchange rates that's only around £9,341,251,534, yes, that's right, £9 billion that we could have used to pay salaries or debts, or used as collateral for lower priced borrowing or just had, in the cellar, making Britain look less like a financial cripple.

Gordon Brown's failings are many, but that one puts him head and shoulders above the most inept chancellor Britain had ever had, then or since.

[aidanjt]

Yup, and what's the most fiscally incompetent chancellor in British history to do once he's been fired by the public? Why gain even more power and scope of authority in global finance, without the public scrutiny, of course!

[aidanjt]

Well if he learns from his mistakes he'd be excellent for the job..

He's still in denial about making any. Well, except for forming the FSA, because, you know.. holding financial services industry accountable is a bad thing.