Friday, January 16, 2009

Bad banks: sin-eaters for the 21st century

Clinical tiredness prevents me from writing anything long and involved, but were I in better shape I’d post about the proposals for setting up a so-called bad bank, likening such a thing to a sin-eater: it takes on the banks’ toxic assets, absolving them from all their irresponsible lending and freeing them (and us) from its consequences.

Thought that was a pretty nice angle. But I’m knackered. So I’ll content myself with a quick, feeble joke:

Bad bank? I’ve just spent the last week and a half trying to explain to Halifax that I’ve changed my address and they still don’t get it. Now there’s a bloody bad bank for you…

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