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Thursday, 26 August 2010

Greed Investment Bank?

Great to see Private Eye focused on the proposals for a Green Investment Bank ("The Green Stuff", p. 9, No. 1269).

On top of the objections I've mentioned previously, the Eye has rightly added its concern that the GIB would absorb billions in public funds by absorbing a hotchpotch of other green funding initiatives and quangos, yet "should not be accountable to ministers or to parliament [and] would be unlikely to be subject to the Freedom of Information Act". Or anyone, probably.

But don't worry. When the GIB hits the wall because no one understands the risks it's taking on, we can all bail it out.

It's as if the credit crunch never happened.

Image from Zazzle.
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