The incompetent Tory-led government have sold Northern Rock - the bank rescued by their predecessors during the credit crisis. The price at just £747 million is almost half the £1.4 billion invested by the taxpayer, though there is the possibility of a further £280 million. Angry? You should be.
Over thirty years, the Tories have repeatedly shown they have failed to learn from history and are doomed to repeat their own mistakes. In the same way they handed over Britain's utilities for the financial equivalent of peanuts in the 1980s and 1990s (those utilities that now change hands for billions, and charge their customers extortionate fees), they handed over the bank, almost at the first opportunity.
If a director of your company paid to acquire a struggling company, steadied the ship, then sold it for less than paid for it, would you have confidence in that director? No you would not. And I do not have faith in this government.
