Wednesday, 28 October 2009

Breaking Up The Rock

The public stakes in HBOS and RBS (now in profit in public ownership - take the hint) are now permanent, non-negotiable safeguards of the Union, as public ownership has always been. But apart from that, all the banks should be turned into mutual building societies, ironclad as such by statute. Beginning, by all means, with Northern Rock.
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10 comments:

  1. Anonymous28 October 2009 at 16:12

    Notice how the bankers get the good bit back and the rest of us have to keep the bad bit.

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  2. Frank28 October 2009 at 16:14

    Of course RBS is back in profit since it was nationalised. Are the railways or the utilities better now that they have been privatised? The "dead hand of the state" is one of most pernicious myths ever.

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  3. Tartan Tam28 October 2009 at 16:16

    Keep up the pressure about public ownership as a safeguard of the Union and its loss as a weakening of the Union.

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  4. David Lindsay28 October 2009 at 16:21

    What a rapid succession.

    Anonymous, don't just notice, act. Most obviously in relation the forthcoming General Election.

    Frank, small business is one thing. But big business - globalist, Politically Correct, and now exposed as hopelessly incompetent - is quite another.

    Tartan Tam, don't worry, I will.

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  5. Chad28 October 2009 at 16:25

    Wot no City boys?

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  6. sock28 October 2009 at 16:26

    Have any banks which stayed private made a profit? Bet they haven't. How could they?

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  7. David Lindsay28 October 2009 at 16:27

    One of them has tried, under the name of someone about whom he clearly knows as good as nothing, and using a term that he undoubtedly does not understand.

    He neither knows nor understands anything about the theological citique of philosophy, either. But then, considering the name that he chose, that isn't really any surprise.

    We are not going down either of those roads here, though.

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  8. David Lindsay28 October 2009 at 16:28

    Sock, that's an entirely different point. They were in profit anyway.

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  9. Anonymous28 October 2009 at 16:29

    But they were still socially useless and they still are.

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  10. David Lindsay28 October 2009 at 16:32

    My proposal for localisation and mutualisation of the entire sector, apart from those public stakes which are of constitutional importance, takes the poison out of this whole debate, if it can be so described. Such new structures would be socially useful simply in themselves, and highly responsive to local and members' pressure to be more so again.

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