The IMF (International Monetary Fund) told the incumbents at the Treasury (Gordon Brown and Ed Balls) as early as 2004 that it was borrowing too much and spending too much.
But our illustrious duo totally rejected the IMF findings and, further more, bullied the officials into keeping schtum (silent) and not to broadcast their findings to all and sundry. During this time Ed Milliband was the economic adviser to the Government.
A new report finds that information was not only withheld from the public, but from the IMF as well, by our then Government.
In addition, IMF officials were intimidated and because of the withheld information, regulators at home and abroad failed to spot serious risks to the financial sector and the economy.
The story gets worse but I will keep it short here and you can watch this unfolding over the next week or so. One high point in the following week will be PMQs (Prime Minsters Questions) in the House of Commons. On Sky News at noon on Wednesday for half an hour. Look out for fireworks there.