The bail-out failed in America and will fail in Europe

[Gromit]

What now?

http://blogs.telegraph.co.uk/daniel_hannan/blo g/2008/10/07/financial_crisis_the_bailout_fail ed_in_america_and_will_fail_in_europe

[youngmafbog]

It hasn't failed - yet.

The money has been approved but has not filtered through. Until they buy the 'toxic' debt why would you expect it to change ?

[jake-the-peg]

What did Mr Hannon expect - the vote would pass in the US and everyone would go "Oh that's OK then business as usual"?

What is his qualification for comment anyway? His History degree? Sitting on the committee for fisheries and Afghanistan?

Hannan's an anti European Tory MEP thrown out of the European People's party violently opposed to any state involvement in the economy - seeing something like this succeed would kill him.

The US act is not a week in and he's gleefully proclaiming its failure.

When market confidence is at the core of current problems such ranting is rather irresponsible - or it would be if anybody took him seriously