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New Labour’s Economic Illiteracy Exacts a Terrible Price: “I’m afraid there is no money.”

Posted on May 17, 2015 by William Black | 1 comment

By William K. Black
Quito: May 17, 2015

One of the great ironies is that just as neo-liberal economics and “modern finance” were falsifying each of their core claims Tony Blair led New Labour to embrace both dogmas. The result was a double economic catastrophe and it also led to the defeat of New Labour at the polls. I have already explained how Blair’s and Gordon Brown’s embrace of the most criminal and corrupt elements of the City of London (and their dogmas) and their resultant unholy war on financial regulation caused the UK financial crises and the UK’s Great Recession.

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Posted in William K. Black

Tagged austerity, Gordon Brown, New Labour, TINA, Tony Blair

Such a Parcel of Rogues in a Nation: First RBS, now Gordon Brown

Posted on September 7, 2014 by William Black | 4 comments

By William K. Black

I just wrote a column noting that the business interests trying to panic the Scots against voting to restore their independence were so clueless that they were citing RBS – the bank that epitomized the fraud epidemics that drove the UK economic collapse. As I have explained in prior columns, the City of London “won” the race to the bottom with Wall Street and became the most shameful and destructive fraud vector in the world.

In the day since I wrote my column three developments reflect the increasing desperation. First, a poll showed (for the first time) the “yes” campaign with a small lead. Second, the UK began to try to entice, rather than threaten, Scotland with vague promises of increased autonomy should the Scots vote against independence. Third, the “no” campaign has wheeled out Gordon Brown to write a column in the New York Times opposing independence.

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