Mandelson Has It So Wrong

Saturday, 31. January 2009

So what do we think of the Mandelson bailout? Frankly not a lot although time will tell. The problem with all these packages seems to be that they get to the point of understanding the problems and seeking a solution but they don’t seem to then tell those to whom they are giving the money how they want it used. They gave money to the banks and told them to start lending again but they didn’t tell them when, how much and to whom so the people that should have benefitted didn’t but the banks were saved. I fear the same will happen with this bailout of the motor industry. If no one is able to buy or lease cars the industry dies. So the government should have been specific as to where the money would go and how it should be used. Of course I could help out here if they would just see sense and bung a couple of mill in my direction. By Graham Hill