Is there anything that can be done to enlarge the debate over why we appear to be nationalising privately held bad debt ? The profitable parts of Bradford and Bingley, the deposits sector appear to be being sold to A Spanish bank “Santander”, whilst we the public seem to be being forced to assume the bad debt side of the company, can this be explained in anyway except as just financial abuse of the public purse! not sure whether this is the FSA’s role to intervene on the public behalf on this issue, but it seems grossly unfair that the government seems no longer to operate in the publics favour ? why are the spanish get the lean meat and were getting the skin and bone of the deal ?
Why is it that the public taking on privately held bad debt is being called “Nationalisation”. To me its not nationalisation unless theres a benefit to the public to it. This is just government stupidity, the sub prime and over lending no bank reserves necessary culture has devolved into financial fantasy land a long time ago, the government and financial bodys were supposed to prevent this from happening.