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The Bucks Stop Here by Jim Parton

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Epilogue to the epilogue 2009

The original Bucks Stop Here was, although we didn’t use the expression at the time, about the last big credit crunch. The Japanese one. Although Japanese banks are in good shape again, so far the Japanese bear market has lasted nearly two decades.

I write this having just listened to a Radio 4 interview with Gordon Brown, formerly Chancellor of the Exchequer, by BBC economics correspondent Evan Davis. Evan was grilling away, while admitting that he had not seen the credit crunch coming, which allowed Gordon a nice let out. How could he have foreseen the replacement of boom by bust? In any case it was all the Americans’ fault, added Gordon.

But lots of people foresaw it. I foresaw it for one, and most old Japan ...

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