Quote of the day:
. . .In terms of repayment, the banks’ “equity” stands somewhere near the contractor who cleans the windows at company headquarters.
If the Green Party really believes that kind of ownership is a kind worth buying, then heaven help the taxpayer when it gets near the purse strings of the Treasury. . . Hamish Rutherford
He was writing about Gareth Hughes’s view that banks taking a huge loss with Solid Energy was somehow privatisation by stealth.
Does he really believe that accepting a big loss in the hope that it will prevent an even bigger one makes it a good deal for the banks?
If so he merely confirms that he and his party don’t understand finance and business.