Iain Martin says the Prime Minister hasn't 'saved the world' and now faces disgrace in the history books
By Iain MartinLast Updated: 8:41AM GMT 21 Jan 2009
They don't know what they're doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious.
Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store. Despite all the sophistry and outdated boom-era terminology from experts, I think a far greater number of people than is imagined grasp at root what is happening here.
The country stands on the precipice. We are at risk of utter humiliation, of London becoming a Reykjavik on Thames and Britain going under. Thanks to the arrogance, hubristic strutting and serial incompetence of the Government and a group of bankers, the possibility of national bankruptcy is not unrealistic.
Peacenik has to ask again. Are Canadian banks really immune to the problems that are facing all the banks in England, Europe and the U.S? It is kind of hard to believe. As George Bush famously said, "This sucker is going down". If England become Iceland, what happens? And Peacenik's bird flu google alert is ringing off the wall. H1N1 is co-circulating with H5N1 in China right now. Before you head down to get your cash out of the bank you may want to re-read Peaceniks post about bird flu.
