The bank bailouts are a “generational offense” – MEP

The bank bailouts are a “generational offense” – MEP

In a highly engaging and informative Oxford Union debate, Daniel Hannan MEP, describes the bank bailouts as a “generational offense” and destroys the unquestionable myths of the financial crisis:

  • It was not a failure of capitalism – there are no bailouts or subsidies in a market economy
  • It was not a failure of regulation – The FSA handbook runs to over 10,500 pages
  • The true cost of the bailouts is over £1T with the Government now admitting that at least £60B of the bailout monies will never be recovered by the taxpayer

 

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