Northern Rock gets more – of your money!
This morning, with your money the government deepened its involvement in Northern Rock, offering to guarantee more of the stricken mortgage bank’s liabilities as it battles to find a private-sector buyer.
According to a report by ‘Reuter’s today’s guarantees — “which add to existing guarantees for retail deposits and some obligations — mean only subordinated and hybrid debt is left uncovered stoking concerns over the rising cost to the taxpayer of shielding bank depositors and investors.”
The report continues, “A Treasury official, however, estimated the new guarantees would cover just “hundreds of millions” of pounds of debt.”
Well that’s all alright then. After all what’s a few hundred million pounds amongst friends – such trifles are barely worth bothering about!!
Wrong! It matters a great deal. For here we have a government that for it’s own selfish electoral reasons is lavishing billions of pounds of your money (never forget the government doesn’t have it’s own money – it uses yours) upon stock market gamblers who’ve come unstuck because their investment was highly speculative! It has nothing at all to do with helping your neighbour to pay his or her mortgage!
Now, if everything else in the garden was rosy, and each and every basic public service in the land was the envy of the world, there may just be some excuse. But everything else isn’t rosy, is it? Not by a long way it isn’t!
We are constantly reminded, as if we need reminding, that our hospitals are in crisis, the sick denied drugs because of their cost, our classrooms overcrowded, our roads get worse as each month passes by. Our young people cannot find the money to rent or buy somewhere to live, and social housing, where it exists at all, is all too frequently taken up by so called asylum seekers and the like!
Yet a so called ’socialist’ government prefers to give our money to a Bank that has brought its troubles on itself.
Remember our report earlier this week about Britain now being the largest donor to the World Bank – money that will be spent overseas! Not been many reports in the mainstream media about that particular largess has there? we cannot imagine why????
Our government can also find money to pay immigrants to go home – but if you a British born Englishman, Scotsman, Welshman, or Ulsterman, need help you will find yourself a long way down the queue!
The BNP is dedicated to reversing this situation.
Come and join us, together we will make a difference.
