The despair Of The British nation.

Thursday, 4 August 2011

Proof If Proof Were Needed.

How We Wuz Robbed.


"Results from Northern Rock more-or-less confirm that the government can't get back the £1.4bn taxpayers have injected into the bank that was nationalised in early 2008",  rare sense from this chatterati member.
I hate being proven correct and saying "I told you so." Bailing out the banks was utterly wrong and stupid. Our massive debt problems were stored there and we opened them up to rot in the glare of greedy, rotten decay under the blazing sun of daylight robbery. I said then and I say now, government indemnity to savers should have been the way to go whilst repaying  tax money to the people so heavily burdened with HMRC demands. Had we followed this course and alleviated the personal debt so readily encouraged by the bankers for a quick buck, then those who got us into this mess would have been the ones to suffer. Retail banking would have survived and the economy stimulated by reducing personal liabilities rather than mult-national corporations of immense greed and power.
It could still be done if we had Governments with balls to tackle the global cartels of mafia controlled shysters.


7 comments:

TheFatBigot said...

It takes something for a BBC man to admit his beloved Labour Party (whose whip his father takes in the House of Lords) got something seriously wrong.

I hope the Honourable Robert Peston has it wrong and the treasury will eventually be repaid, but anyone with any common sense has said for more than three years that it was money down the drain.

It's just obvious that a business based on lending to people who cannot afford to repay has no substantial underlying value.

Many of us said at the time that the banks should be treated like any other private business. Once a position of insolvency was reached it was time for losses to fall where they lie.

To do otherwise always allows the rot inherent in the business to spread.

Perhaps one day the Honourable gentleman will pop his head above the parapet and acknowledge that a State running a deficit is robbing its people blind.

Oldrightie said...

Smashing input, FB, thank you. It's a mystery how many of us have a grasp of how wrong things can be and our so called peers are such dumb nuts.

petem130 said...

To end up in this situation beggars belief. That the tax payer is being treated in such an arrogant manner speaks more of us than it does them. To be fair to us they have the power and the position to control things.

Was there not a law to ensure councillors stayed with reasonable spending limits or they faced personal charges? Perhaps progress could be made to introduce similar for MPs?

Of course I jest. Like they'd allow that?

I fear the present situation has a long ways to go before things improve. It may be messy. It may need to be messy.

Great post by the way.

Angry Exile said...

Really Robert Peston? Come on, OR, own up and tell us what you did with the real one.

Oldrightie said...

Petem, many thanks, indeed. AE, weeeeeeeeeeeeeeeeeeeelllllllllllllllll..........Hard to believe but I tried to blow the bastard up.Am entertaining some Aussie visitors to see Mrs OR's garden this ava!

Demetrius said...

What I wonder is that all those experts were badly wrong but a handful of others and a few mad old blokes were correct.

Oldrightie said...

"....and a few mad old blokes were correct"
Am I not living proof, Demetrius!