The UK bank bailout package launched on October 8, 2008, after a night of cliff-edge negotiation with the leading banks, was an accomplished piece of political theater. Compared with Paulson’s struggles with Congress, Brown and Darling had the huge advantage of a solid majority in the House of Commons. Though Brown’s position at the head of the Labour Party was far from secure, he did not have to fear the parliamentary mutiny faced by President Bush.
