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Feb 212010

Pssst … want to make a quick bundle ?

Just vote for the Tories and they will let you buy shares in the Banks we own for cheap. Sounds good doesn’t it ?

Sounds like a bloody stupid idea to me. To sell the shares cheaply, the government would have to make an enormous loss on the money it used to bail out the banks in the first place. Now saving the banks was probably the right thing to do, but so would be hanging onto those shares until they can be sold at a reasonable profit … or at least not a disastrous loss!

It’s all very well offering to throw money at the electorate to increase the chances of your party winning, but surely the government finances are in no state to start throwing money away like this ?

Perhaps when you are considering selling your soul … sorry I mean vote, for a handful of bank shares you should think a little more broadly than your wallet.

The funny thing is that the Tories seem to want to encourage the less well off (even students!) to invest in shares. I’m not sure what planet the Tories are from, but it probably isn’t the best idea to encourage these people to gamble with their money (which is what share investments are – a gamble) before they have a sensible amount of savings.

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