Do you have no regrets, no feeling that there is anything you could have done in the last 10 years that would have better positioned us for this storm?

The truth is that not even the heads of some of the major financial institutions knew what was actually happening and what the risks they were taking were.

Brown needs to choose his advisers more carefully. The “heads of some of the major financial institutions” might not have known, but he did, she did, he did, and he did – not to mention him, him and her.

One person who didn’t know was former US central bank chief Alan Greenspan, signed up by Brown as honorary adviser to the UK Treasury in 2006. But at least Greenspan, unlike Brown, admitted he’d made mistakes.

There’s more at Bubblewrapped.