Rowan Williams: Don't blame the bankers - deregulation and spending caused it too

by Sam Jones
The Guardian
Monday 9. 2009

Blaming the greed of individual bankers for the financial crisis was too easy and people should instead be asking profound questions about how poorly regulated economies obsessed with ever-growing consumer choice have skewed the judgments of entire countries, the Archbishop of Canterbury has said.

The Right Rev Rowan Williams used a lecture in Cardiff at the weekend to deliver a wide-ranging attack on a globalised economic system which had been "spectacularly successful in generating purchasing power" but which had also led us to "the most radical insecurity imaginable".

As economists struggle to find technical solutions to the recession, which has brought interests rates to their lowest level in 300 years and forced the government to cut VAT in an effort to get shoppers back into the high street, he said ordinary people had to ask themselves difficult questions about their own lives. the rest