Listening to Shaun Woodward on ANY QUESTIONS I was struck by several things. Firstly, he seemed to acknowledge that this credit crisis had happened on Gordon Brown's watch and he should therefore apologise. I suspect it will be a cold day in hell before that happens. But apologise for what?
According to Woodward and his Cabinet colleagues, the banking crisis is almost entirely down to the effects of globalisation and the US sub prime mortgage market. I completely acknowledge that this is at least in part an entirely reasonable argument.
But if you don't acknowledge the failures in regulation and in public policy in this country and place the whole blame on external issues, you are implicitly, or tacitly acknowledging that if you were powerless to stop it, you are powerless to solve it. In short, you hold up your hand and say 'there' nothing we can do'. That is, of course, patently ridiculous.
The moment a government surrenders to external forces and says it can do nothing is the moment it also surrenders the right to be called a government.