There Is No Plan

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Posts Tagged ‘Gordon Brown

Gordon Brown Is Back!

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scotland the brave

It was British Labour Prime Minister Harold Wilson who coined the term “A week is a long time in politics”, and while Gordon Brown’s astonishing turnaround as British Prime Minister has taken a little longer than that, it has been truly remarkable.

When the British public turn on their leaders, they do it with a viciousness that’s positively medieval. A year ago, Gordon Brown was political poison. In the great tradition of British politics, his Labour Party was openly plotting his demise in the tea rooms and bars of Westminster. His demise was expected in a matter of weeks, and his stoic Scottish demanour combined with an almost uncanny lack of political savvy conspired to hasten it.

But then something happened. Gordon found his mojo. Starting with an unexpectedly stirring keynote speech at the Labour Party Conference in September, Brown began to take on his critics in the best way a leader can, by being exactly that – a leader. The speech was a dignified mea culpa of his mistakes and failings, combined with a cogent vision for the future, and it stopped the bleeding.

The speech was followed by another masterstroke. Amid the flailing response by Hank Paulson, the Bush Administration and Congress to the galloping credit crisis and precipitous market collapse, it was Gordon Brown’s plan to buy stakes in the UK banks that, overnight, calmed the waters. First, the Euro-zone and then, unwillingly, the US, followed the Brown plan, and the immediate panic dissipated, virtually overnight. Brown’s status as British political whipping boy was replaced by a standard grudging acceptance by the grudging Brits that he did, well, okay. Read the rest of this entry »

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Paulson – The Man With The Plan

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Man With Plan

Man With Plan

After nationalizing Fannie and Freddie, then letting Lehman Brothers die for no apparent reason, then bailing out AIG to the tune of $85 billion (now around $150 billion but who’s counting), Hank Paulson sat back to watch the credit markets unfreeze. But instead they just froze up some more.

Hank was totally bummed. “This job totally sucks”.

“The credit freeze just keeps on freezing”, he said to his posse of former Goldman Sachs hacks. “What the frick do I do?”

“You need one big plan”, said Neel Cash and Carry, “not just a whole bunch of little plans stuck together”. Hank nodded furiously. “Yes, yes, that’s right”. After scribbling a few notes on the back of a dry cleaning bill he looked up. “I’ve got it”. Read the rest of this entry »

Written by coolrebel

November 12, 2008 at 11:18 pm