While I'm no fan of Brown I think it has to be said that the current state of the country is down to the banking crisis which was a result of deregulation which was started by the grocer's daughter. Furthermore, had it happened on Cameron's watch he would have bailed them out in exactly the same way so we'd be in exactly the same state.
Found this on the web
Since 1997 the Labour governments of Tony Blair and Gordon Brown developed a programme of better regulation. This included a general programme for government departments to review, simplify or abolish their existing regulations, and a "one in, one out" approach to new regulations. In 1997, The Chancellor of the Exchequer announced the deregulation of the banks and other financial institutions. They freed the Bank of England from direct government control and removed the power by the Bank of England (and therefore by the government) from controlling the financial activities of banks in the UK. In 2006, new primary legislation (the Legislative and Regulatory Reform Act 2006) was introduced to establish statutory principles and a code of practice and it permits ministers to make Regulatory Reform Orders (RROs) to deal with older laws which they deem to be out of date, obscure or irrelevant. This act has often been criticised and called "The abolition of Parliament Act".
You will have to help me here the conservatives left power in 1997 or are Blair and Brown closet Tories all down to Labour I'm afraid