Who is bailing out who?
This bloke has been in effective control of the UK finances for 11 years, and it is simply unacceptable that he should pretend that it's all someone else's fault. Brown should be put on trial for criminal negligence; in fact, since there are doubtless now suicides attributable to recession failure, he and every one of the cabinet ministers over the past 11 years might as well be charged with corporate manslaughter.
The ongoing complete inability to explain what these toxic debts were secured upon is certainly criminal negligence. Do we own vast estates of property in the USA? If so, we might as well send over some our homeless to live in them.
Were these toxic assets bought by UK banks at $2/£1 In which case, are these 25% more valuable at $1.50? No one has a bloody clue - or at least if they do, they aren't telling us, which suggests that "they" don't want to tell us because the news is so awful.
As the economy continues to slide, so many more businesses and individuals become progressively less credit worthy. Hence the quaint idea that zero interest rates can slow down the procession to more bankruptcy and toxic loans - so it's too bad the banks are still charging 7% on very well-secured loans in order to keep their discredited managements in "away days" and bubbly.
Whatever else, we must follow the US and have an election ASAP so that we can flush out ALL the old failures and have a new administration that is not going to be so obviously obsessed with protecting its own arse, and burying its own bodies before anyone else can sniff them out.