Saturday, March 28, 2009

Is It Just Me?

Have we really not reached a point yet when the bailouts have been exposed as not effective? I am fed up of seeing my tax money go into saving failing companies and failed directors.

I would really like to see a line drawn on the sand. We should no longer be bailing out financial institutions for their failures. We should honour the £30,000 guarantees, but that is all. Lets at least say, in future no more.

At the moment, troubled financial institutions who are on the brink, possibly because of poor management, possibly not; they might as well roll the dice and take some big risks, there is no disincentive now against it, because what the hell, UK PLC will be there to bail out their customers.... No company directors have as yet been prosecuted for widespread financial mismanagement.

Where will it end?
Did you vote for the bailouts? no, me neither.


Cato said...

No bailouts should ever have taken place. As you say, the £30,000 (or whatever) guarantees were enough. Let the banks go to the wall. I said that long ago and I'm still saying it.

subrosa said...

I see the Treasury have refused the Scottish governments effort to help the Dunermline BS and it's to be sold off in bits. May be more in the Sundays.

What a thrashing we've just had in the football, although I'm sure they tried.

it's either banned or compulsory said...

Let the failed banks go to the wall and cancel the pensions of failed bankers, just for spite and to teach the others a lesson.

Marukatsu said...

I know this is your country problem, but I agree with you.
Wish you a happy day!