[Wolves] For all petrol heads like me :-) + on the subject of petrol

Stuart Langridge sil at kryogenix.org
Mon Jan 14 12:38:49 GMT 2008

On Jan 14, 2008 11:00 AM, ArchLinuxUser dick_turpin
<dick_turpin at archlinux.us> wrote:
> What I want to know is how come the population didn't storm the winter
> palace of number 10 when public money (Yours and mine) was used to
> prop up a private venture Northern Rock and now I read that most, if
> not all, of our lovely Tax money may never be paid back by them.

I'm in two minds about this. The first mind says that, well, if caveat
emptor means *anything* then it has to mean this; NR went bust, so
they lose, game over. The second mind says that the public having the
idea in their heads that "banks can go bust and lose all our money" is
a Bad Idea from a public policy point of view, because it leads to
people losing confidence in the banking system, hiding all their money
under their beds rather than in the bank, and then the economy crashes
and we turn into Argentina. I assume that the gummint are worried
about that, so they think it's a worthwhile expenditure of money.
Certainly it's not a completely clear-cut case, at least to me...


New Year's Day --
everything is in blossom!
I feel about average.
   -- Kobayashi Issa

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