If you read that the Chancellor has issued a mea culpa this morning in the Daily Telegraph noting that many mistakes were made in the financial regulatory system over the past 15 years, don't believe it. He may looked like he did it b ut what he actually did was subtly blame the Tories and the Civil Service.
Note the way the number of years is 15 when they've only been in power for 12? It was Brown that introduced the so-called tripartite system that Darling is admitting has failed, but he's trying to argue that it really all went wrong three years before that under the Tories.
Those would be the three years of growth in the economy that previously the Government and more specifically Brown chose to ignore when boasting about what a financial genius he was. Remember, 1997 was 'year zero', but now its all gone tits up those last few Tory years come into play once more.
Now you may be wondering how he has blamed the Civil Service too. Well in the interview he's indicated one of two things. Either his own civil servants are too scared or timid to speak their minds. Or that they've stitched him up like a kipper.
Darling says, when questioned about the way the Treasury has appeared to lurch from one crisis to the next, giving a sense they are just following thing hopelessly that "there are no end of people who saw all this coming - they just never mentioned it at the time". Sir Humphrey's fault too...... see?