Friday, October 03, 2008

So, Mandelson. I'm not an expert on card games, but I thought a flush could only bust once? And the US bailout has gone through. It was Hobson's choice, really, but I think they made the wrong decision. At the other end of this, the bankers, financiers and politicians who got the world into this shite in the first place will still be claiming that they know best. They, like the arseholes who demanded compensation when their Railtrack shares tanked, need to be shown that there's no such thing as a risk-free punt. Even with a shedload of taxpayers' money propping the whole corrupt, ineptly-run system up, a lot of people are going to lose jobs, businesses and homes. Refusing the aid package would have punished those who truly deserve to suffer.

3 comments:

Shaun said...

Why is socialism a naughty word, Mr Louis, Sir, when it's the first thing the rich turn to when they get into trouble?

Anyway, this bailout will be soon be forgotten (a mere 700 billion) when the credit default swaps implode in a couple of months.

I type this surrounded by canned food. Look to your drystuffs, Louis!

LF Barfe said...

Yes. The capitalists bang on about the failure of socialism, but isn't this the failure of capitalism? Michael Moore's a pompous arse, but he's suggesting that $700bn is pretty much what the top earners have accrued during the Bush administration, and that they could give it back themselves and still be left with the vast amounts they had in 2000.

Kecske said...

It's all explained in glorious plain English here:

http://cynicuseconomicus.blogspot.com/