So Gordon Brown has finally, finally admitted what we all knew which was that he made mistakes regarding the regulation of banks which helped contribute to the credit-crunch and ultimately recession. In an ITV interview which will be broadcast tonight he has admitted that he succumbed to lobbying and that:
"In the 1990s, the banks they all came to us and said, 'Look, we don't want to be regulated, we want to be free of regulation.' ... And all the complaints I was getting from people was, 'Look you're regulating them too much.'"The truth is that globally and nationally we should have been regulating them more. So I've learnt from that.""You don't listen to the industry when they say, 'This is good for us.' You've got to talk about the whole public interest."