Friday, 17 October 2008

I own my bank!

Now my government has seen fit to use my (future) money to buy my bank, I guess they can hardly refuse to lend me (my) money next time I need some.

One of the conditions of the bail out is that banks return mortgage lending to last year's levels. Isn't that what caused the crisis in the first place?

Another condition is that the banks post no dividends. So investors get no returns and they go buy someone else's shares. Bank shares go down and the government loses (my) money. What part of capitalism does the government not understand?

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