Just came across your blog. very good stuff.
declan mc kenna | Homepage | 04.22.08 - 6:34 am | #

Thanks very much; I quite agree.
Philip | Homepage | 04.22.08 - 6:48 am | #

I see your point - nonetheless, the grumpy sod at Burning Our Money seems to think that the government's conditions for these loans do actually punish the banks quite significantly for their prior mistakes...
john b | Homepage | 04.22.08 - 9:26 am | #

Well, let's see what comes first: a decrease in boardroom salaries or an increase in charges to customers.
Philip | Homepage | 04.22.08 - 1:07 pm | #

That's how it's done in America, too. Under Bush Sr., we had to bail out savings & loan institutions after they had been deregulated and left for Vegas. Taxpayers ended up losing billions on that one. The elites use these self-created crises to re-centralize wealth. Prior to the Crash of '29, average joes had begun to play the stock market, and after the crash, the very wealthy bought everything up at firesale prices. Mustn't let capitalism get out of hand. It might let in the riff raff in spite of itself.
Madame X | 04.22.08 - 7:06 pm | #

If it's good enough for the Bush gang, it's good enough for Gruel Britannia.
Philip | Homepage | 04.22.08 - 8:42 pm | #