Could this man bring down Gordon Brown?

Paul Moore - former Head of Risk at HBOS turned whistleblower

In today's IoS Paul Moore is quoted as saying:

"Brown presided over a policy based on excessive consumer spending based on excessive consumer credit based on massively increasing property prices, which were caused by excessively easy credit which could only ultimately lead to disaster. But no, in Gordon's mind it was all caused by global events beyond his and anyone else's control."

Which is the best summation of the current crisis I've heard recently. The fundementals are hardly new, however, as seen here in by our Shadow Chancellor Vince Cable in 2003:

"As the Bank of England Monetary Policy Committee meets, almost certainly to raise interest rates, there is growing alarm in government about an impending crash in house prices. Higher interest rates and falling house prices could trigger a bloody end to economic growth driven largely by unsustainable consumer debt tenuously secured against nothing more substantial than asset inflation."

Which doesn't trip off the tounge nearly as well, but when unpacked says much the same as Moore's analysis just over 5 years later.

Anyhow, enough Vince worship - Moore says he has 30 documents that could end Brown. Looks like this could be an exciting week ahead! This feels like it could turn into a mega big story.