Gordon Brown's Financial Folly

The Heritage Foundation, October 17, 2008, "Gordon Brown's Financial Folly: The Global Economy Does Not Need More Regulation" by Brett D. Schaefer

Prime Minister Gordon Brown authored an op-ed in the Washington Post on October 17 suggesting that the current international financial crisis requires a radical expansion of global governance over international financial institutions and transactions. Brown's op-ed is a study of internal contradictions and confusion and should not be taken as a serious proposal [Emphasis added].

Brown's proposal coincides with ongoing meetings between the Bush Administration and European officials and the announcement of a special G-8 summit as early as next month to focus on the global financial crisis. The Bush Administration should not make the creation of a powerful new international regulatory authority a part of its legacy. Read more at www.heritage.org