Demand destruction

| | Comments (1)
And so the unravelling of the latest financial bubble gathers pace. Here and in the States failing financial institutions have been backed with taxpayers' money.

I quite understand the decision to make sure depositors don't lose out: you should know that if you put your money into a bank account it won't disappear. However, bailing out risk-taking investors with our money? That's just wrong.

If the value of your investments effectively can't go down, you shouldn't get benefits based on that supposed risk. And the free-marketeers ought to be agreeing, because they invented the phrase "moral hazard". That hazard doesn't just apply to business people, it applies to the politicians who bale them out too.


there's a letter in the FT from a French investment banker that's on the filthy lucre:

Leave a comment

Your Links At Last


Other Politics



Friends and Stuff I Like

If I've forgotten to link to you, let me know. If I don't want to link to your blog I'll pretend I never got your email.

The party's site of which I am rather proud

Along with Jeff (formerly SNP Tactical Voting) and Malc (formerly In The Burgh), I now co-edit Better Nation, a group blog. Stuff will still appear here, but more will be there. Better Nation

Post History

This page was published on March 18, 2008 3:25 PM.

Button-pressing was the previous entry in this blog.

Mountgrange tied the Council's hands is the next entry in this blog.