Describing something that is intended to protect so many people from financial ruin as theft from future generations is is way of the mark and nothing but alarmist, socialist propaganda. It's no more theft than free education, unemployment benefits or disability benefits.
It may not benefit the entire population although many would argue that the implications of not trying to address this situation would have dire concequences for everyone on one way or another. It will benefit a vast proportion of the population though, not just the ultra wealthy , city brokers and fat cats but the ordinary man on the street who has been prudent, followed conventional wisdom and put money into personal pensions, savings plans, bonds, and endowment mortgages, not because of greed but because it's seen as the done thing to make the most of your money.
It's not their fault that so called city wizz kids have taken unacceptable risks with their money or that these risks could lead to the collapse of financial institutions and stock markets.
Some are saying that taking on these toxic assets will ultimately be profitable and therefore will actually benefit future generations so it can be argued that this is the only sensible solution although I agree that even if more tax payers money is pumped into the system it wont prevent a long painful recession but not doing so will be worse and the people who are least able to suffer the effects will be worst hit.
Last edited by ChrisLKKB; 27th Sep 2008 at 20:50.