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Government pours billions more of your cash into the banking black-hole

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Remember that £50 billion taxpayer bailout the government threw at the banking industry a few months ago to help dig it out of the horrible disastrous mess caused almost entirely by its own greed and stupidity? Turns out it wasn’t anywhere near enough to fix the problem (in case you’d failed to notice the torrent of shit cascading onto the industrial strength fan) and now, apparently, they need to throw billions more of our money at the problem in yet another complex bailout scheme which has absolutely no guarantee of working at all.

The bottom line of it all is even more of our money is being gambled on another risky plan to try and save a badly flawed banking system – and a lot of people in Westminster and The City are far from convinced that it’s a good idea. We’re tempted to agree with Vince Cable of the Liberal Democrats, who’s arguing for complete nationalisation of the banking system – if the government views the availability of credit to citizens and businesses as being so key to the overall economy, then surely it’s too important to be left in the hands of the monkeys who got us into this mess?

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