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Taxpayer's bail-out of banks is 'justified', says NAO

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BBC News - Taxpayer's bail-out of banks is 'justified', says NAO

 

 

The Treasury was "justified" in using taxpayers' money to bail out banks to protect the wider financial system, according to a report. The National Audit Office (NAO) review says the cost to the British public so far totals £850bn.

However, it says that the final cost to the taxpayer will not be known for a number of years.

The NAO study also shows that by April 2010, the Treasury will have spent £107m on crisis advisers

 

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Mybe the bail out was the lesser evil, but this does not excuse the conduct of the banks since the bail out, when will this government stand up to these modern day Dick Turpins - call their bluff let them resign, see how they like it when they are unemployed, but of course they will just turn to their mates in the secret handshake brigead and land another top paying cushy job


PGH7447

 

 

Getting There Slowly

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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Why didn't they just let the banks go under and protect the consumers. This would have been the best that would have happened for any other industry.

 

Guarantee the deposits, write off the debts.

 

If the banks aren't viable businesses or they've made commercial mistakes then tough.

 

I'm sure the same money could have boosted the economy much more effectively in other more justifiable areas.

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