Tags: Boom to BustWEDNESDAY, AUGUST 6, 2008
Vince's Naivety on Nationalisation
"Taxpayers have every reason to be angry: with the private-sector managers and directors who behaved appallingly and have never been brought to book; the company auditors who passed last year's accounts without spotting the big holes in the company books; the regulators (the FSA) who also gave the Northern Rock a clean bill of health; and the government, which was at best naive and at worst dishonest when it claimed to have secured the government's loans."
What about the naive politicians Vince, who welcomed the nationalisation, without having done any due diligence on behalf of the taxpayers?
Why didn't Vince ask the key question, what are the taxpayers billions in loans secured against?