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.