“Oct. 9 (Bloomberg) — Confronting the worst financial crisis since the Great Depression, Gordon Brown and Henry Paulson went in different directions.

Brown, who opted to spend 50 billion pounds ($87 billion) to partly nationalize at least eight British banks, took the most direct route to shore up the system. The U.K. prime minister’s approach contrasts with the one taken by U.S. Treasury Secretary Paulson, who crafted a more complicated $700 billion plan to buy financial firms’ bad debts. Yesterday, Paulson signaled he may follow and invest directly in banks.

“The U.S. is just less predisposed toward nationalization than all the European countries,” said Joseph Mason, a professor at Louisiana State University in Baton Rouge who used to work at the Treasury’s Office of the Comptroller of the Currency. He praised the British plan as more straight-forward. “I just think they’re way ahead,” he said.

Brown’s plan returns his Labour Party to its roots, reflecting post-World War II policies of taking ownership of industries ranging from airlines to mining. Margaret Thatcher‘s Conservative government reversed those policies in the 1980s, and they were rejected as Labour doctrine under the leadership of Tony Blair and his successor….”

Comment: 

The Brown idea is nothing more than what George Soros and Paul Krugman advocate. It’s official international socialism. [Paulson’s is unofficial corporate socialism, i.e., thuggery].

No mention that Brown has nuclear energy ties, dumped Britain’s gold at the bottom of a 20 year trough in gold prices, and supported monetary intervention ala Greenspan, thus making him culpable for the boom in credit too.