Hi Theresa,Yes I agree. A lot of people call them...

2008-11-24T17:50:00.000Z

Hi Theresa,

Yes I agree. A lot of people call themselves right wing when they are really corporatist. Although I would call myself right wing, that's certainly not what I want.

I want a free market where people compete on merit. I don't want a system where you can only compete if you went to school with the Prime Minister's friend. I don't want a system where the government hands taxpayers' money to favoured industries and companies.

It follows that I don't want the bank bailout. It seems to me that if a bank runs out of money, the first step is to get it into the bankruptcy process, so the shareholders can see that their money is gone. Once that has happened, the remains of the bank could be sold, which would involve the creditors taking a hit. (One creditor would be the government, as it guarantees retail deposits in banks up to £50,000.)

If there was no buyer, the government might have to take the bank over. If they didn't, a lot of the bank's customers would go bust, as their loans were called in. On the other hand, by doing it this way, the government would not have to pay for the privilege of taking over a dud bank. They could say that they would pay the bank's creditors 50p in the pound, and because there were no other potential buyers, the administrators would have no choice but to accept this offer.

We also have socialism for the rich in which they ...

2008-11-23T18:58:00.000Z

We also have socialism for the rich in which they get their write-off their extravagant malinvestments on the poor or middle class. Kind of like global warming spokespeople who then fly their own private jets to events and heat their mega-mansions with lots of light bulbs.

Comments on TheBlog.org.uk: Socialist Myths Exposed by Ray Lewis

Hi Theresa,Yes I agree. A lot of people call them...

We also have socialism for the rich in which they ...