A large part of Gordon Brown's strategy is to talk a if he is in charge. He is not and never was.

When big business contributes to your party being elected in 1997 it isn't in the hope that you will increase their taxes and regulate them.

However you look at it, you owe them.

Richard, Suffolk,

“I must say one of the things that has struck me going round the Gulf is the extent to which our own British PM is now being looked to as someone who will lead the rest of the world out of this mess"

What an utter joke. His PR has been great but the fact remains, GORDON BROWN got us in to this mess

Richard, Suffolk,

Goverments will lose control over the influnce over interest rates.. In the 90's rates went up to 15% for prices to crash.. In this economy they only need to get to 5.5% for a crash.. If goverment lower rates to 3.5% then even rates at 4% in the future will cause a crash..wiv time crash yet to come.

des, Mumbai, India

"Warns" them eh? What's he going to do? Ah yes, he'll be disappointed.

How pathetic.

Ross, lancaster, uk

We need less Govt borrowing: give tax cuts and make saving worthwhile. That doesn't mean lower interest rates. Too much borrowing and spending got us into this mess - it isn't the way out. The banks will ignore Gordon and Mandy because they operate in the real world and need to recoup reserves.

Donna Walker, Effingham, England

Everyone is agreed that banks need to re-capitalise.

To do that, they must make more profit. This requires them to lend more prudently and to improve margins.

Yet, Lord Mandelson expects them to DECREASE margins. How will that help the re-capitalisation ?

Clive, Surrey,

Mandy doesn't seem to understand the system:
- BoE sets the roi not the govt
- variable mortgage rates are linked to how the banks actually lend which is LIBOR

If he doesn't understand the basics then I don't understand how he can be a "Business Secretary"?

Bill, Knaresborough,

People will blame Government, past and present,
for giving the keys of the Casino to the wrong people.

Bankers have gambled, lost and now making us pay
for the loses.

3 years of re-capitalisation to come.

M. Walker., Nr. Bromsgrove., Worcs.

Mandy, don't forget,

Savers also vote.
People whose pensions were destroyed by Brown also vote.
People whose lives are destroyed by the Brown Bust also vote.

Richard Crompton, Baden, Switzerland

Why would he be surprised? Lower interest rates in the US led to INCREASED mortgage rates a couple of weeks ago.

lower interest rates = fewer deposits = greater need to hoard cash.

mandelson, Osbourn and Cable are all WRONG. We need HIGHER interest rates to encourage saving in the long term.

Jon Cooper, Herts, UK,

With all the borrowing the Government needs to do, I can see why they would love low interest rates. The fact they need to borrow is a reason rates won't go down in the real world whatever hot air comes from Downing Street.

James, London,

So why have the nationalised Northern Rock not passed on any of the rate cuts to mortgage holders?

Mark, London,

The Government should start by putting their own books in order. Northern Rock has one of the highest variable rates of all banks and it is owned by tax payers. This has pushed many people coming off deals into financial difficulty as in this climate many of their customers have nowhere else to go.

Angela Taylor, Hove,

If all Mr Mandleson can do is 'urge' the banks to pass on the benefits of raiding the taxpayer then the wrong person is in charge - surely the banks should be TOLD to pass on the benefits, or NO money!

Dean, Manea, Cambs, England

Has nt Mandelson got 'form' when it comes to borrowing money from banks ??

Rick , London, England

And what about the savers ? UK banks need to keep money in the UK rather than have it go overseas. It is all well and good helping those who borrow the entire time but those who save should also be considered by the government.

Ian, Norwich,

Mr Mandelson should look at Libor rates. Despite base rates being 4.5%, three month Libor is 6%, higher than almost all 2008 and half 2007. HSBC hasn't taken required any money from the UK government. If they can't pass base rates cuts on, perhaps its because they are operating in the real market

Mrs Bloggs, London, UK