Gordon Brown declared the City “ideologically bankrupt” and promised Labour that bankers “will pay back the British people”, in a speech positioning his government firmly against London’s financial community ahead of a general election, reports the Telegraph. At the Labour conference in Brighton, the UK prime minister linked the financial crisis with the Tories, blaming the “Conservative idea that markets always self-correct but never self-destruct” and pledging tough regulation to curb financial excess.

This entry was posted by Gwen Robinson on Wednesday, September 30th, 2009 at 4:52 and is filed under Capital markets, People. Tagged with gordon brown. Edit this entry.