Local councillors being against development is nothing to do with bank bailouts, which have (mostly) been repaid by selling off the banks again.

That isn't what I mean. The moral hazard is caused by the bailouts. It isn't about the sum itself. Merely the guarantee that the tab for large gambling losses will be taken by the taxpayers.

We should have shot a few bankers in 2008 to encourage the others.

How about one in 2024?

It’s 2025.

But the CEO was killed in 2024.

Quite a broad term "bankers". Who does that include?

- not gambling, mortgages

- not in the end a loss (banks taken into government ownership eventually sold for about the acquisition price

- bank shareholders lost their money

- you don't want to see everything turned into Northern Rock bank runs

The banks should have been nationalised.Iceland was able to solve they Monte Carlo GFC event without creating a moral hazard.

They DID nationalise the banks! https://researchbriefings.files.parliament.uk/documents/SN05...

They ended up with 100% of Northern Rock and Bradford and Bingley; 84% of RBS, and 43% of Lloyds.

Thanks for that info. Live and learn.

Thankyou for this comment. The GFC is a complicated subject; there WAS a lot of reprehensible behavior, but it's often not correctly identified because people like simple problems with clear villains.

The history of Anglo-Irish Bank is an even more interesting story; Sean Quinn is one of the few bankers who was actually jailed, even if only for a short time.