Monday, July 13, 2009

UK Government has lost £10.9bn on stakes in RBS and Lloyds

Oh well, it's only other people's money.

And there's a lot more of our money to lose yet down this sleazy black hole, before we've finished with this idiocy.

I must say, when I watched a documentary a few years back about how the Japanese government kept bailing out its own zombie banks, it looked so plainly ridiculous and so obviously short-sighted and crooked, that I thought there was no way we would ever be so stupid and so corrupt over here.

Obviously, I was the stupid one.

Ho hum. Let us hope that the 'Repudiation' of British government debt is an idea whose time has come.

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