Gordon Brown
Media playback is unsupported on your device

Gordon Brown admits 'big mistake' over financial crisis

Gordon Brown has admitted he made a "big mistake" when he set up the system of financial regulation before the banking crisis.

He told the annual conference of the Institute for New Economic Thinking at Bretton Woods in New Hampshire on 9 April that the government had been under pressure not to over-regulate.

He said the Financial Services Authority had been designed to monitor individual institutions.

  • 11 Apr 2011