Jacob Rees-Mogg talking 'b******s' by denying government caused market turmoil, says financial …
A Financial Times journalist has been widely praised after she said what we were all thinking about Jacob Rees-Mogg.
Gillian Tett, who was a key commenter during the 2008 financial crash, bluntly explained why the business secretary's suggestion that the Bank of England's interest rate policy is to blame for economic woe instead of the government is utter nonsense.
“To use a non-technical term, that is pretty much bollocks," she said, when asked about the issue on Channel 4.
“I think for the most part it really was the budget and the way it was delivered and the message inside, which sparked the beginning of the crisis," she added.
“The Bank of England certainly is to blame for not having prepared for these kinds of dislocations. The British pension funds appear to have been somewhat asleep at the wheel in terms of their risk management systems.
“But at the end of day, the spark that lit this fire was very much the budget announcement.”
Interviewer Krishnan Guru-Murthy apologised for her language and said he was unsure if it was allowed. He then added he checked on media regulator Ofcom's website and found that it was described as "medium language".
People thought it was "incredible":
\u201cIncredible scenes on channel 4. Worth staying for the last five seconds of this\u201d