Instead of reforming the City, bitter Gordon Brown is settling scores

But he sticks to his guns, making the same points time and again whenever he has a platform to do so. The Bank, in his opinion and contrary to emanations from the Brown bunker, did foresee key elements of the banking crisis and the credit crunch, and tried to forewarn, but Downing Street didn't listen and Brown's "tripartite" oversight structure, muddling responsibilities between the Bank, the Financial Services Authority and the Treasury, was an obstruction to any coherent response.