03 March 2009

An apology

I'm sorry. But there are some political developments which utterly defy rational analysis.

Today has seen the announcement that the UK Ministers are to lend £2bn of public money to private firms building schools and other projects under the Private Finance Initiative, as the firms concerned face difficulties in raising finance due to the credit crunch.

In the words of The Kinks, "It's a mixed-up, muddled-up, shook-up world". And getting worse every day ...

1 comment:

subrosa said...

You couldn't make it up. Somewhere I read that this money isn't going to appear on the balance sheet either (can't find the link).

Auch well, the mint is churning out x notes a day now so we'll soon be awash with the stuff.