Being pedantic, I just said “cited by economists” without reference to whether or not they have merit (I guess “reputable” would depend on your political leanings). It was a throwaway comment in a thread about best British PMs. I guess it also depends on whether you view someone like Krugman as a reputable economist.
I thought I had left all the bullshit of that time behind after all these years, after I left Finance and after I left the UK, and here I am seeing once again one of the biggest pieces of bollocks spewed after one of the biggest systemic regulatory fuck-ups I’ve ever seen in any Industry up-close (from the front row, even, having been in none other that Lehman Brothers the day it went bankrupt).
Seeing this ridiculous claim again about a guy who I professionally believe that, as Chancellor during a period of de facto near non-existent regulation of Finance in the UK, has a seriously large share of the blame for the outsized amount of damage that Crash did to the UK (a gift which still keeps giving, since it’s part of the chain of events that led to Brexit), might have pissed me off a bit.
Gordon Brown’s time as PM was just a desperate rush to plug holes (same as in the rest of the World, though Brown did chose to have the rescued banks keep on self-regulating, a choice which I believe led to the subsequent Austerity), but his time as Chancellor was a shit show of incompetence and regulatory capture in Finance.
Again, I agree with you. But this “ridiculous claim” WAS made by economists like Krugman and others.
The more alarming aspect is that UK politicians - eapecially in Labour - are now calling for a return to pre-2008 levels of deregulation now because it’s now “safe” to do so. Nothing is learned from history and it seems we are destined to repeat it.
It was literally only Krugman, a guy who realiably is on both sides on everything and isn’t exactly reputable even if he did once get a Swedish Central Bank Prize Of Economics In Honor Of Alfred Nobel. This guy was amongst other things in favor of Austerity which years later even the IMF conceded had actually been the wrong thing to do.
Now you just reminded me of yet another slimy bastard from the old days.
But yeah, wanting a return to pre-2008 deregulation is insane - for me the Crash was unexpected (I hadn’t been in Finance long back then) and I actually spent a couple of years learning Economics and digging down on the reason for the Crash and “Deregulation” was invariably the top one, especially for the UK and US.
Good thing I left Britain just before Brexit - just about every other week something happens there which by the standard of a mere 20 years ago is insane and unbelievable shit to happen in a supposed Democracy, that confirms the wisdom of my choice to leave it.
Did you notice that they said no reputable international economists actually say that?
But you’re right to call out the accusatory tone of @Aceticon@lemmy.dbzer0.com’s comment, that did kind of spoil an otherwise very informative post.
Being pedantic, I just said “cited by economists” without reference to whether or not they have merit (I guess “reputable” would depend on your political leanings). It was a throwaway comment in a thread about best British PMs. I guess it also depends on whether you view someone like Krugman as a reputable economist.
I thought I had left all the bullshit of that time behind after all these years, after I left Finance and after I left the UK, and here I am seeing once again one of the biggest pieces of bollocks spewed after one of the biggest systemic regulatory fuck-ups I’ve ever seen in any Industry up-close (from the front row, even, having been in none other that Lehman Brothers the day it went bankrupt).
Seeing this ridiculous claim again about a guy who I professionally believe that, as Chancellor during a period of de facto near non-existent regulation of Finance in the UK, has a seriously large share of the blame for the outsized amount of damage that Crash did to the UK (a gift which still keeps giving, since it’s part of the chain of events that led to Brexit), might have pissed me off a bit.
Gordon Brown’s time as PM was just a desperate rush to plug holes (same as in the rest of the World, though Brown did chose to have the rescued banks keep on self-regulating, a choice which I believe led to the subsequent Austerity), but his time as Chancellor was a shit show of incompetence and regulatory capture in Finance.
Again, I agree with you. But this “ridiculous claim” WAS made by economists like Krugman and others.
The more alarming aspect is that UK politicians - eapecially in Labour - are now calling for a return to pre-2008 levels of deregulation now because it’s now “safe” to do so. Nothing is learned from history and it seems we are destined to repeat it.
It was literally only Krugman, a guy who realiably is on both sides on everything and isn’t exactly reputable even if he did once get a Swedish Central Bank Prize Of Economics In Honor Of Alfred Nobel. This guy was amongst other things in favor of Austerity which years later even the IMF conceded had actually been the wrong thing to do.
Now you just reminded me of yet another slimy bastard from the old days.
But yeah, wanting a return to pre-2008 deregulation is insane - for me the Crash was unexpected (I hadn’t been in Finance long back then) and I actually spent a couple of years learning Economics and digging down on the reason for the Crash and “Deregulation” was invariably the top one, especially for the UK and US.
Good thing I left Britain just before Brexit - just about every other week something happens there which by the standard of a mere 20 years ago is insane and unbelievable shit to happen in a supposed Democracy, that confirms the wisdom of my choice to leave it.