The Party's Over

Gordon Brown has always maintained that this is a global crisis with roots in the American sub-prime mortgage market and that he is just the man to steer us through the resultant stormy weather

By contrast, David Cameron blames the government's mishandling of the economy and its failure to control recklessness in the City.

However, events this week seem to have played into the hands of the Tory's and have finally sealed Labour's fate come the next General Election. They culminated yesterday in a two-hour grilling for the embattled Prime Minister by the Commons committee that at times left Mr Brown looking like the cornered rat that he is.



If there is a lesson to be learned from this week, it is that tripartite system of banking regulation is not fit for purpose.