What is enormously annoying is that the financial sector could be such a runaway parasite on the way up, and even complete nationalisation won't be punishment for that. Bonuses have been paid. Retroactive punitive taxation would be the only way to get back what was looted. "The womb that spawned that thing is fertile yet"
When talking about investing in equity, then yes it is absolutely fair, and indeed a lot could have been done with the same amount of money, and should have been done.
Having said that, in the situation we are in now, I do believe we must prevent a total and uncontrolled financial collapse.
I do hope, though, that the precedent will be used in order to achieve other kinds of state investments. We will need them to kickstart main street. I am very worried, on the other hand, about the impact on critical goals like fighting poverty and preserving the environment. "The womb that spawned that thing is fertile yet"
