I FIND it quite incredible that after more than six years since the world recession started in the USA there are people who still cling on to the idea that it was caused by Gordon Brown, or is it that they just want to believe it because it suits their purpose?

Ever since it started there have been countless reports of often criminal behaviour by major financial institutions around the world.

Some fines have been imposed on these institutions and I’ve no doubt there will be more in the future.

I have never heard anyone call for any member of the last Labour government to be prosecuted for financial mismanagement, illegal or otherwise.

Regular viewers of Newsnight will know the name Gillian Tett as a regular contributor.

She is markets and finance commentator and an assistant editor at the Financial Times.

In 2010 she wrote a book called Fools Gold.

A comment on her narrative is from Stephen Foley of The Independent.

“An absorbing 15 year gallop across the Wild West of the world’s financial markets... Tett sketches a system in the grip of a great error, emanating outwards from a cadre of elite traders who were able to repel any attempt to monitor, question or restrain them.”

I would suggest that before anyone else trots out this Tory propaganda that the Labour Government caused the world recession they should read this book.

Personally I have little doubt that if we had had a Tory Government at the time our plight would have been worse as they would almost certainly have relaxed regulation of the financial institutions further.

They have never produced a shred of evidence to suggest otherwise or been able to show that any of their ministers were telling Gordon Brown he needed to do something differently.

One thing I would like to comment on in NO Taylor’s letter in the SNJ of March 25 is that he says “The electorate is the ultimate jury”.

Of course that’s absolutely true but to reach their verdict they have to see all the evidence and it has to be true, not “doctored” by the defence.

Howard Price

Nailsworth