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Saturday 1 November 2008

Why was Robert Peston so angry when he reported that Barclays Bank had found alternative funding to the UK government?

Robert Peston and indeed much of the BBC sounded furious that Barclays Bank had found an alternative to the Government's money with conditions. John Redwood seems to agree, his article on Bank Nationalisation starts:
"The reaction to Barclays has told us a lot about the agenda of Vince Cable and some Labour figures. They clearly want the taxpayer to end up owning more banks. Their anger that Barclays have paid more to keep their freedom, tells us the UK taxpayer is getting a rotten deal from the proposed share purchses the government wishes to make. The way Vince Cable was allowed so much BBC airtime to front run nationalisation, without any Labour slap downs, tells us it was a policy they favoured. He was a useful front man to avoid accusations that Old Labour had been rehabilitated. Meanwhile, all sensible proposals to avoid state owned banks were studiously kept off the airwaves to avoid complicating the argument."
Do read the rest of the article and wonder why the BBC only ever ask one ex-economist MP onto their programmes, have they not heard of John Redwood?

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