mercredi 17 septembre 2008

Bank merge

More evidence that Marx had a point. As capitalism degenerates, profits dry up and takeovers lead to private monopolies. TSB and Lloyds are merging with HBOS, meaning there will only be four banks on the high street in the future. Larry Eliot in a video clip at the, sigh, Guardian makes the point that the bail out of HBOS was organised and came from the government. And that all will be well.

Buy gold then.