Quote Originally Posted by rory_20_uk View Post
Louis, Goverments took massive stakes in the banks. The net result was the exiting shareholders lost c. 90% of their money - it's over 80% owned by the government and dividends have been stopped. IMO the governments did exactly what they should do - they bought at the bottom of the market, propped up the banks and charged for services that the banks had to accept. It's one of the few things Labour has done well (compare to selling gold at a market low)

The government can soon sell their share for a profit. That's ignoring the cost of providing a safety net, and interest on lending.

You make it sound that the banks were given free money to go on as before.

The only ones that truly gained were the senior employees who made vast profits in the good times are merely great profits now.

I don't disagree with most of the bailouts.

I do think the tax money that was used for it (rather, the money that has been borrowed for it) should be collected where it has been used: banks and their shareholders. Rather than collecting it from the poor, by maintaining tax levels at the same level while dismantling the welfare state. That amounts to a regressive tax system, to stealing from the poor (rather, the honest tax-paying midlle class) to give it to rich crooks.