The latest bailout of the banks will cost at least £200 billion according to the government’s own figures – and we will get nothing in return.
The bailout comes on top of the £250 billion in credit and the £37 billion in hard cash that was handed to the banks last October.
New Labour chancellor Alistair Darling explained the latest measures by saying, “What I’m doing today is putting in place a range of measures that are all designed to get lending going again.”
Yet the only lending taking place is on the part of the government to the banks – and it is doing a fair amount of giving away on top.
The bailout comes on top of the £250 billion in credit and the £37 billion in hard cash that was handed to the banks last October.
New Labour chancellor Alistair Darling explained the latest measures by saying, “What I’m doing today is putting in place a range of measures that are all designed to get lending going again.”
Yet the only lending taking place is on the part of the government to the banks – and it is doing a fair amount of giving away on top.
