Government was correct in no bail out for Dunfermline

This morning's leader in the Indy makes a good point about the current ethos in this country.

Refering to the actions and words of the Dunfermline building society boss Jim Faulds,

Rather than recognising the manifest failings of himself and his colleagues in running this venerable business into the ground, Mr Faulds chose to harangue the Government for its failure to inject public cash to keep the business afloat. There was not even an acknowledgement of the fact that taxpayers will have to take responsibility for some of Dunfermline's bad loans as a condition of its sale.

I would argue that the malaise is not simply infecting the banking industry but is threatening to sweep across the commercial sector.

It seems that all business' now in trouble are expecing some form of governmenty bailout.For the government an easy line can be drawn.Support for those who have been undermined by the genreal economic climate but not for those who through bad business decisions are in trouble.

Yes I can here the shouts now about the banks themselves,but tey have to be a special case for their collapse would have meant the collapse of GB UK.

As for the Dunfermline it appears that these so called toxic loans include risky loans against commercial property as well as sub prime and a massive loss on its own IT system.