Head in the Sand

Paul "Scoop" Waugh at The Standard

has what could potentially come a big headache for Brown:

"Gordon Brown ignored a stark warning that "toxic" bank loans could lead to global financial collapse, a leading US hedge fund chief has revealed.

Jim Chanos said that Mr Brown, while Chancellor of the Exchequer, was given a briefing that predicted banks were in dire danger - more than a year before the crisis hit last year."

Cheers Gordon.

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The Rascal