All hail, Alex the Great Seer!

HAT-TIP to Alan (Cockers) Cochrane of The Daily Telegraph for highlighting a quote from the Richt Honourable Alex Salmond MP, MSP, First Minister of Scotland which, at the time, held none of the significance or irony it now does:

The Scottish banks are amongst the most stable financial institutions in the world.

He’s an economist, you know…



Filed under Alex Salmond, Economy, Scottish Government

25 responses to “All hail, Alex the Great Seer!

  1. Chris Jones

    Errr… didn’t Gordon Brown praise the city bankers for ‘your unique innovative skills, your courage and steadfastness’ in his 2005 Mansion House speech? Innovative and courageous indeed – they managed to extract hundreds of billions from the British taxpayer to fund their mistakes.

    Or who can forget the Mansion House speech in 2007 where again Brown praised the “efforts, ingenuity and creativity” of the bankers and predicted living through “an era that history will record as the beginning of a new Golden Age”.

  2. Brian

    Scottish banks were amongst the most stable financial institutions in the world.

    Shame the three corners of such financial stability, The government, the FSA and the Bank of England, f””d it up?

    At least he didn’t declare the end of ‘Tory’ Boom and Boost? More like ‘Labours’ Bankrupt Britain?

    Those what live in glass houses should not throw stones and whatnot Mr. Harris.

  3. Simon

    Hindsight is a wonderful thing. I expect AD rather regretted saying this last March.

    Darling said: “UK GDP growth is forecast to slow from three per cent in 2007 to 1¾ to 2¼ per cent in 2008, before picking up to 2¼ to 2¾ per cent in 2009.”

  4. Jim Baxter

    OK. Truce over. ‘And Another Thing’, the Cruiskeen Lawn of our times.

    The SNP are a one-man show. They’d be nowhere, which is where they belong, without the Cheeky Chappie. And he is quick, he is funny. People vote SNP who would normally never be that stupid because they like Alex. Others vote SNP because they are always that stupid. What was that exchange between Alex and McConnell in Holyrood after AS got the top job? Something like

    JM: The First Minister is no Donald Dewar

    AS: And he is no Henry McLeish.

    That was fast. Very fast.

  5. Bob Jones

    Perhaps if Salmon had been regulating them, instead of the useless Labour lot, they’d have been OK. It is your party who for ten years failed to regulate, your dear Leader who set-up the useles system where nobody knows who is the regulator (is it the FSA? The Treaury? The Bank of England?) … of course, not knowing who should have been regulating it also means we don’t know who to blame, which must by why none of Brown’s cronies which he installed at those useless organizations are resigning or being fired.

    The BoE, the FSA & the Treasury are still run by the incompetent fools who reigned while this crisis was building.

  6. Simon

    Of course if you’re talking about hindsight, GB almost certainly regrets saying this during his Labour Party conference speech in 2000.

    “We will not put hard won economic stability at risk. No return to short-termism. No return to Tory boom and bust. It is Labour that is now the party for stability and growth.”

  7. Okay, okay, I get it! Now bugger off and watch the inauguration…

  8. Indy

    Don’t think any politician can claim to have seen the collapse of capitalism coming, except perhaps Tommy Sheridan and he is too busy dancing on ice with Latoya Jackson to claim credit.

    Funny old world!

  9. Brian

    Is Browns Britain broke again? I note that Lloyds has fallen 40% and Barclays 20% so far today.

    The pound has dropped 4% vs the dollar and 3% vs the euro.

  10. John

    It’s a blight on Scotland that that buffoon was elected at all, let alone as First Minister!

    The SNP are like a sinister version of the Lib Dems. They too are by all accounts “a fringe party” yet without any of the honourable (yet often impractical) aims.

  11. ani

    Don’t panic Brian.
    Top international brains are onto it.
    We’re all in the same boat, working hard together, and aren’t fighting alone.

    Well, apart from the Tories….

  12. Simon

    I thought hindsight was a wonderful thing, but Ani, you completely trump it with your naivete.

  13. Dave H.

    Someone has pointed out that if you add bank bail-outs, PFI and public sector pension liabilities to the national debt it comes to 2.3 trillion.

    If true, that’s 155% of GDP, even higher than after WWII. And that’s when we have only just officially entered recession, all the talking heads say it will continue getting worse for long time yet.

    You realise that if we are required to go begging to the IMF, Labour would have slightly less than bugger-all chance of winning the GE forced upon it?

    Labour would then be remembered as the party whose last two periods in office ended with Great Britain going bankrupt.

    You may be relatively young, Tom, but this would hardly give you teriffic odds of ever being an MP in the party of Government again.

    All in all, you had better hope your own Scottish “Seers” know what they’re doing.

  14. wrinkled weasel

    John, if only you were not so ignorant, you might have made a good contributor.

    You clearly know nothing about the SNP. I would be surprised if you actually live in Scotland.

  15. madasafish

    Pity Salmond is not resposnible for the oversight of the banking system.

    A certain G Brown was.

  16. Jim Baxter


    I do live in Scotland and I know what you mean. I apologise for what was a tedious trivialisation of support for the SNP in a previous post. The SNP, and Unionism, deserve more analysis than name-calling.

  17. Indy

    All politicians get things wrong.

    Example: ‘Break up Britain end up broke’. That’s lost its sting a bit – we’re broke either way.

    Or perhaps the ‘arc of insolvency’ jibe which will surely come back to haunt the Labour politicians who used it, just as the ‘arc of prosperity’ came back to haunt the SNP politicians who used it.

    But short of taking a vow of silence or developing the gift of sight there’s not much our elected members can do about it.

  18. John

    “I would be surprised if you actually live in Scotland.”

    I don’t. I never said I did?

  19. You might want a look at his Harvard speech from March 2008 for further delights on the strength of Scotland’s financial sector…

    How about “of course we Scots are lucky enough to have the one of the best brands in the world (sic) – a global recognition and affection for our culture that money cannot buy.

    Take financial services. With RBS and HBOS – two of the world’s biggest banks – Scotland has global leaders today, tomorrow and for the long-term (sic).

    And a growing number of American firms – not least JP Morgan, Morgan Stanley and State Street – are discovering that the Scottish financial sector can do anything you can do in London and can do it better and rather importantly in the current environment can do it at lower cost.”


  20. wrinkled weasel

    Scott: AS was talking up Scotland for the consumption of those further afield. You wouldn’t expect him to do otherwise, would you, and besides, it’s the way he is about everything, he is up front and full on and its the reason he is the leader and not some éminence grise who says one thing in public and does something else by stealth.

    What people don’t realise South of the Border is that there is more to the SNP than Alex Salmond. This is because he is the only one that ever gets reported down there and because the Scottish press have an open antipathy to the SNP.

    The reality is that sensible policies are being implemented, such as the introduction of free school meals for all children – yes, that has been an SNP policy for some time, with it’s implementation opposed by the Labour Party when it was first mooted by Tommy Sheridan with support from the SNP.

    So try not to write them off. If you can disagree with the above policy by all means do so.

    Every time you cross a major bridge in Scotland, you do it for free, courtesy of the SNP.

    The British Government refused to support the Scottish fishing industry when fuel rocketed in price. The SNP did.

    No more profligate, pocket-lining, poorly contstructed PFI hospitals will be commissioned in Scotland.

    The SNP were the only major party to vote against the war in Iraq.

    Council Tax in Scotland has bee frozen since they came to power.

    No need to bore you any longer with the facts, but there is much much more.

  21. wrinkled weasel

    I notice there is a rogue apostrophe in my last post.

    Just leave me now, with the revolver, and I shall do what is expected of an Englishman and a gentleman.

    yours, etc.


  22. Rapunzel


    eats, shoots and leaves?

    I wonder what he chose for his final meal.

    RIP Tom will miss you.

  23. ani

    “eats, shoots and leaves?”
    Wasn’t that the most boring little book ever? No wonder my apostrophe skills are sometimes misjudged, but as long as you get the gist? And you do.

    As for your joke “Tom will miss you”
    The response has to be “Not a lot” or
    “Only for the clicks”

    Talking of which, Tom’s blog is so popular he must be outdoing Dale surely?
    I mean, most of ID’s supporters appear to be on here nagging away and adding to Tom’s numbers – is that great or what?

    Keep posting.

  24. Rapunzel


    Should have written:

    Eat’s, shoot’s and leave’s.

    Thought of it too late.

    Don’t read Dale, he’s just too …. no, better not.

    But I can’t bear the comments. They’re so banal.

  25. ani

    Dale’s really boring since he stopped the anonymous comments, at least they used to spice things up.
    Now its Tory numpties all agreeing with each other.
    He has a cute dog though.

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