er. no. How about cheap money, global capitalism, China, etc...you have a very simplistic take on economics. Capitalism is inherently prone to busts (ironically an old Socialist like Gordon seemed to have failed to pick this up)and the current one has bee particulalry nasty because of a surplus of cash from China, loose credit and low interest rates post the Dotcom crash (for fears that'd spark a global recession...they just put it off), the creation of 'clever' speculative products around debt, shares, insurance, which modern technology and global markets has allowed to accelerate massively - partly because the Democrats and Labour loosened the restrictions on banks - and so make any flaws in the models behind them accelerate massively, a HUGE assett boom and massively high gearing on the part of Individuals (largely spent on their houses) corporations (often using their own propert assets) largely spent to buy other companies (see Icelandic companies and banks as a fine example) and GOVERNMENTS (yes that's Brown) to build nice stuff or give jobs to voters. When it crashed and asset values fell GULP. It still beats any other system which tend to deliver no growth but at leeast has everyone equal as they queue for their potatos, but to say it's singularly the banks and housing market is a pile of horsesh1t. Still at least Gordon put plenty aside for a rainy day....oh, hang on a minute. He's as culpubale as banks, consumers, us all. Good times gone, reality check for us all...but keep blaming the bankers if it makes you feel better, certainly seems to work on Talkradio and with cab drivers.