The collapse of the banking system would have hurt everyone across the socio-economic sector regardless of class. Indeed I suspect it would hurt the working classes more as they tend to have lesser equity, lesser savings and more prone to economic hardship through unemployment. So I don't think the class argument bites in this case. The comparison with the coal industry also suffers as there were other factors which influenced the policy.



I guess it is (just) plausible to hold a view being "I believe it is wrong for public money to support a failing industry for the benefit of those working in that industry, but it is right to support the financial infrastructure of the economic system for the benefit of the entire population".





Like you have touched on, I'm not hugely in support of state intervention (in any form) so it is a difficult subject for me to argue. I do know that when all this chaos is over and banking shares recover to their 2006/7 levels the treasury [ishould [/imake a handsome return on it's invesment and the UK tax-payers receive a nice dividend. Let's see.

I'm sorry, but I still don't get it - Why? Please, can you help me out on this, I really am struggling to get it.

I'm lead to believe....



1) Zero interbank lending, no liquidity in the market, decent businesses going bust due to lack of working capital/overdrafts etc. Huge unemployment.



2) Zero overseas investment through lack of confidence in UK finances.



3) Huge amount of housing repossessions and collapse of the housing sector.



4) Reduced availability for personal loans/finance severely damaging the retail economy.



5) Spiralling deflation.





I know the classic argument is that the stronger banks would pick up the pieces of the failed banks, cherry picking the loan book etc. But this would leave the most vunerable people repossessed and staring at bankruptcy.

Primrose is the official flower of the Tory party as well. Both our colours represent the Conservatives.

That has made my day, well that and Ponting's gob.

It's great isn't it.

Superb. Can still see Ponting with a big double hundred in 2nd innings :-S

Hopefully they wont try and defend (I know they will) and just come out wild west style and swing away!

I think even the Aussies at their best, or Indias batting line up, would have struggled in this situation. Batting out two and a bit days on a crumbling dusty pitch.....not going to happen.



Best the Aussies can hope for is a fine rearguard action to make 380 and take the game to the fifth day.

80 for 0. Making a fist of it in true Aussie backs to the wall style. They are playing attacking and I think its fair to say there will be a result one way or another.

Only 4 months and three days 'til Christmas, kids!