Darling admits government erred regarding credit crunch:

02/4/2009 | Times (London) (subscription required), The

Appearing before the House of Lords Economic Affairs Committee, U.K. Chancellor Alistair Darling attacked banks for failing to hold their executives responsible while acknowledging that the government made mistakes that led to the economic downturn. Darling's comments go against Prime Minister Gordon Brown's stance that officials remain caution about admitting mistakes related to economic management.

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