Douglas Carswell's Blog

Have we just been mugged?

Remember when the government spent �billions bailing out the banks?

Not to worry, we were told. The taxpayer stands to make a profit out of it all.��

That was pretty much what the experts�said when they nationalised key industries after the second world war, too, apparently.� It turned out to be nonsense then.� And it turned out to be nonsense with Northern Rock today.

Instead we learn the�govenment has sold Northern Rock at a stonking �650 million loss, having sunk �1.4 billion into it.��Only a little over �10 per person to rescue�one small set of overpaid bankers�from their own greed and folly.� �

I wonder how much more we stand to lose on all those other banks we bailed out?�

This is not free market capitalism.� This is�corporatism.�

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