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Wednesday September 21, 2011 17:43
by Protest Allsop Auction - Protest Allsop Auction
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Comments (2 of 2)
Jump To Comment: 1 2Doesn't matter if the speculators are British, Irish, or Martian, it's still greedy, immoral, and antisocial.
The bail-outs retrospectively fund reckless banking pre-2008. Reckless banking caused the inflated house prices which result in the repossessions we see today. The repossessed properties end up in these auctions. So basically the bail-outs allow the speculators to acquire houses at knock-down prices. Have I got that right? Go ahead and pick holes, but by and large I think it stands up. Public money ends up in private hands, at a time when we need it sorely.