We’re teaching banks some dirty lessons

Conservatives' bailout of banks might have set a precedent

Once upon a time, conservatives insisted on prudent government, one that always maintained a surplus. Debt was anathema to them.

Fast forward to today’s more ideologically oriented conservatives and we find that national debt suits them just fine.

Anathema to them are social programs that they see as empowering governments to take their hard-earned money and give it to poorly motivated losers.

This attitude has been reinforced by the 2008 collapse of the financial market. They must have been surprised to find that we taxpayers would come to their rescue by backing them with large bailouts that put them back on their feet, even though that put us deeply in debt – the very kind of situation that would demand cuts to social services and thus squeeze people into jobs that pay ever lower wages.

Now that banks have become aware that we taxpayers will cover them even when they make really, really stupid mistakes, they see the virtue of keeping governments in the red. Wow, can it get any better than this?

So don’t expect national debt to go away any time soon, my friends.

Andy Mulcahy

Victoria

Just Posted

Local tongue-in-cheek opportunists flog snow huts

‘Executive’ and ‘eco-friendly’ one-bedrooms pop up on Craigslist and Used Victoria

Province urges backcountry adventurers to stay safe this weekend

Search and rescue responded to 28 incidents last Family Day weekend

Snow storms prompt reminders to prepare for emergencies

Province reminds public of essential supplies

West Shore fundraiser serves up hope for kids with food allergies

Proceeds assist Oral Immunotherapy Research Program at BC Children’s Hospital

Sidewalk Trio reuniting at The Oaks

The next Blues for Eric scholarship benefit concert is Feb. 23

B.C. students win Great Waters Challenge video contest

Video, mural and song about saving the salmon claims the top prize

Ammonia leak shuts down curling club in Nelson

It’s not yet clear when the leak was detected

Pavelski’s 31st goal helps Sharks top Canucks 3-2

Vancouver one point out of second NHL wild-card spot

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Ontario police field complaints over Amber Alert for missing girl, 11, found dead

Some said the Amber Alert issued late Thursday for Riya Rajkumar disrupted their sleep

Former B.C. premier Gordon Campbell accused of sexual touching

Accuser went to police, interviewed by Britian’s Daily Telegraph

B.C. couple attacked with acid, slashed with knife in Vietnam

Warning, graphic images: Man has burns on 80 per cent of his body, slashed with knife

Northern B.C. First Nation clan says ancient tools found at pipeline work site

Archeologists from the Smithsonian Institute estimate one of the stones found dates back up to 3500 years

Names keep adding to vaccine petition started by B.C. mom

Maple Ridge mom started campaign to make vaccination a condition of attending school

Most Read