As, I think, Terry-Thomas (or possibly Snoopy) might have said, "It matters not who wins or loses, but how you place the blame".
So who do we blame for the financial mess - the bankers or the borrowers ?
Peter Black quotes an interview with former Cabinet Secretary, Andew Turnbull, which firmly blames the Labour Government's borrowing.
On the other hand, Keynesian Liberal quotes an unpublished letter to the Guardian, which equally firmly blames the bankers.
It remains a political truth that the government of the day will always get the blame, even if the causes were before they came to power.
