Gordon Brown, in his narrative of the banking crisis (‘Nothing short of chronic recklessness powered by unchecked greed…’, 7 December), portrays himself as the man who got angry with the bankers, but the question remains: is he redressing the power balance between national states and a globalised financial system? For Brown, the postmortem on Lehman was that those at the top of the bank acted recklessly, greedily and unethically. This was true, but is this a sufficient analysis? Brown does not tell us how the one-way bet – heads I win, tails you lose – indulged in by financial players should be reformed.
This article was originally published by The Guardian.