British Logic,you think ? Close "Pits" then "prop-up" Banks.?

Question

British Logic,you think ? Close "Pits" then "prop-up" Banks.?

Answer 1

Well at least by closing down the coal mines we got rid of those militant trades union dipsticks and Arthur Slagheap and his cronies.

By supporting Northern Rock afloat you are keeping a roof over peoples` heads

Answer 2

Yes madness,,,,the British taxpayer will shell out over £3,500 each for the bank,whilst Thatcher spent as much in closing down a viable and productive UK based coal industry in favour of cheaper imports that helped prop up a foreign government,,Thousands of miners thrown on the slagheap of industry whilst wealthy bankers cream of profits ,,,,

Answer 3

Prime Minister Mrs Thatcher closed down the coal industry because the coal was no longer required by British Rail who had changed over to electric and diesel traction, the railways using most of the output from the mines. Also coal was cheaper to buy and ship from Australia (not a third world country) than to mine in the UK, mainly because of restrictive practises. Union hotheads like Scargill saw this as a chance to stir things up and try to work towards a communist revolution. The violence directed at the authorities was reminiscent of third world warfare to gain control over a democratically elected government.

Northern Rock I believe has several labour MPs and senior party officials either as lenders or borrowers with Northern Rock. I've yet to hear of one of them declaring a financial interest in the nationalisation to save their interests.

The Bank also mainly serves a part of the country where a large number of labour voters live. I wonder if this government would have rushed in the same way if the bank's headquarters had been in Bournemouth, Exeter or Salisbury.

Answer 4

The pits closed because the coal was too expensive & the demand was too low.

Northern Rock is being propped up because it could still have a future: so yes, I would say this is logical.

Answer 5

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Absolutely true mate, we in this country have long since left the path of logic.......

Now we are just everybodys dumpit site!

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Answer 6

There was no mileage in keeping open all those uneconomic pits - to subsidise them to the amount they needed in the face of cheaper foreign imports would have bankrupted the country.  Northern Rock has a lot of savers from Labour 'heartlands'; they aren't going to let that disappear are they?  I agree, there is a lot of mileage in Northern Rock yet and they are worth saving.