The bail out

I have had a long think about this and I'm convinced that using public money to bail out the banks is not going to help alleviate the credit crunch.

Most of the banks that have had an injection of cash, managed to get themselves in trouble through no fault but their own greed.

I think the government should have allowed the banks that were in danger of folding, to have let them fail. By artificially keeping afloat an institute that didn't know when to say no reinforces the false message that no matter what the situation, state intervention can be relied upon. Which is ironic considering just how much resistance the financial institutions have shown towards regulation in the first place.

Will the lessons be learned? No is the answer.
"Science is a wonderful thing if one does not have to earn one's living at it"
Albert Einstein

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