Was it not Gordon Brown (advised by Ed Balls) who scrapped BOE regulation of British Banks replacing the BOE's role with the FSA, who proved totally inadequate to the task? This led directly to the UK banking crisis (including Icelandic banks as well as our own) - a crisis which did not occur in either Canada, Australia or NZ where there was no change of regulatory regime. One wonders what was the REAL motivation of BB & EB to do away with decades of BOE regulation which had worked well in the past even allowing for BCCI & Nick Leeson!! The fact that neither Gordon Brown or Ed Balls has been properly held to account is in itself an absolute scandal. They have been allowed to get away with blaming US subprime & cover up their own leading part in this debacle, which has cost the country billions & blighted the lives of so many. Why has the City let alone the Tory press been so lenient?

I expect even more expensive Cocktail Parties took place well before this one - parties to celebrate Gordon Brown's handing over UK banking supervision to the FSA. This is what set the stage for the wholesale destruction of British banking & all that has flowed from it. Yet this simple fact, which should be shouted from the roof tops each and every day seems only mentioned in whispers!