Labour government ministers attack banking bosses
In one of the most obvious cases of "locking the stable gate after the horse has bolted" the UK government has turned on the banking sector accusing directors of excessive bonuses and over rewarding themselves. However, if you take a step back 24 months you will see that the Labour government was very happy to cosy up to the UK banking sector when requiring funds to cover PFI projects and other government initiated spending sprees.
Now that the banking sector has turned full circle and is desperately in need of taxpayer funding to continue in public control, it would appear that the UK government is looking to play "hardball". Even though Gordon Brown initially confirmed that he had not expected or even noticed the signs of economic downturn in the UK until it was too late, the blame game goes on deep into the night.
However, with a UK election due in 2010 it was to be expected that the government would look to shift the blame to other parties even though this Labour government has been instrumental in encouraging "self-regulation" in the UK business arena at the same time as spending billions of pounds reorganising various regulators. Will the UK public see through this attempt to pass the blame or is it really the fault of the UK financial sector?
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