Alternatively; despise Gordon, ...
Alphaville is right: it's surprising that the boy Osborne's sleight of hand over the Post Office pension liability hasn't been more widely slated. This is the merest Enron accounting trick.
When I started blogging here 5 years ago, à propos of the commonplace accusation that Gordon Brown indulged freely in Enron's accounting methods I asked the following questions:
1. why would a sovereign nation with a developed economy and enormous borrowing capacity bother with such fun and games? (Is anyone fooled?)
2. how and when, exactly, is it all going to come unstuck?
Today we may be a little nearer to seeing the answers. But it's just so tempting, isn't it George ? Really, really tempting. Welcome to the Gordon'n'Ed Enron tribute band. Now - how about some PFI ?