Peston’s Christmas present

This post by the indispensible Robert Peston drops Brown’s policy right in it.  In the blog he says that the taxpayer may not get all of the loaned money back.  And then this:

What some may therefore see as worrying is that there is no sign right now of the Bank of England, or the Treasury or the Financial Services Authority being endowed with such bubble-busting powers.

In other words, Brown has not done enough or tackled the underlying problems.  The banks are now starting to admit their errors.  It is about time Brown did the same!