Friday, October 07, 2011

Just Give Them Another Do Over

And then in two to three years another one!

Nervousness is growing in Whitehall that the government might have to inject further capital into Royal Bank of Scotland as part of an effort to recapitalise Europe’s banks.

It's already almost entirely owned by the UK government. But, hey, just light some more money on fire.

No one will ever admit that maybe this was the wrong course, not even 30 years from now after the 10th round of bailouts.