And They* Say This is NOT the Great British Pubco SCAM!

REUTERS REPORTS LLOYDS BACKS PUNCH TAVERNS 'RESTRUCTURE'

Unbelievable. But even though people, lots of them from all over the show, in the news, in pubs, in banks, in the markets have been sucking their teeth for months, no years, over Punch being a basket case insolvent zombie company, possibly finding bond holders walking away and putting the morally and financially bankrupt company into administration where it should have been in 2008, without a shadow of doubt, it was obvious this would happen.

The banks that are letting these white collar criminals off the hook are doing it with money that's owned by the British public. These banks have lost £BILLIONS of OUR money already and they're gambling with more of it now. Does anyone REALLY think Royal Bank of Scotland is going to say 'NO!'? NO. No one think that because it's all a bleeding fit up.

RBS has been a catastrophic basket case itself, for YEARS. Built on dodgy loans on dodgy properties wait, isn't that a bit like the pub companies? Of course it is... RBS has done pretty much nothing other than lose £BILLIONS of our money for the best part of the last decade... and what happens? We pay them to carry on ruining British Heritage, destroying culture, communities and social cohesion everywhere. Doesn't make a lot of sense does it? But hang on -

Everyone involved makes money out of the restructuring, in fees, whatever, and bonuses and whatever, except some people who can afford to lose everything but this way they lose less - no one stands up and says "This is TOTALLY out of ORDER" because they are all being paid as part of the process... EXCEPT of course the people who MAKE all the money for EVERYONE else - the people who NOBODY listens to and that is the lessees of the pub company - and the public who are all paying a pound more for beer than they should be because of government sanctioned legalised corporate greed and profiteering. Of course OFT and the government don't agree with my assessment of this - because I'm right - and they are all being paid off, one way or another, in keeping the status quo the way it is.

This is not free market economics. It's Mickey Town and we're ALL being taken for mugs.

*They... Pretty much everyone, even the thousands of tenants who should know by now that there is no justice in the pub sector, no arbiter, no common decency, no adherence to laws that affect most other areas of society... In the pub sector it's boys with toys and the tied licensees and publicans are the toys.

Everyone watch over the next four years as Punch Taverns flog off another THOUSAND pubs for alternative use - and use the cash to pay the INTEREST ONLY on the mountains of debt all these sheisters are allowing to continue to drag OUR pubs and country's sense of place into oblivion.

It's not like it hasn't been a long time coming you know... We've been sleepwalking into this for decades

"From the towns all Inns have been driven: from the villages most.... Change your hearts or you will lose your Inns and you will deserve to have lost them. But when you have lost your Inns drown your empty selves, for you will have lost the last of England.

HILAIRE BELLOC This and That 1912