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Petition o' the day

"We the undersigned petition the Prime Minister to 100% guarantee all bets and other types of gambling and risk taking, or reverse his decision to 100% guarantee all bank deposits." Source


"Following the development of the Northern Rock crisis the Prime Minister Gordon Brown, along with the Chancellor Alistair Darling, have declared that they will 100% guarantee all bank deposits. Prior to this declaration, such deposits, like all investments, involved a small degree of risk involved in giving money to banks. This risked encouraged savers to seek secure and trustworthy banks though they were free to do the opposite if they so pleased, and live with the consequences of their actions as adults ought to.

Mr. Brown's recent knee-jerk reaction has changed all that and removed the risk from bank deposits at great cost. Mr. Brown should either reverse this ridiculous decision or be consistent and guarantee all risks of all kinds, including bets and other types of gambling".



He's got a point, has he not?

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Blogger Alex said... 1:01 pm

Not quite "remove all risks". The depositors are still taking the risk that the govenment will honour its guarantee - at best a 50% risk.  



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