THE Royal Mail and the Post Office could be saved for the nation, it is argued, by creating a “people’s bank”. The key word here is “bank”, since it would then qualify to have billions of taxpayers’ money pumped into it – which could keep it going in perpetuity. Meanwhile, a big question – raised by Liberal Democrat Vince Cable, among others – remains unanswered. Why was Northern Rock deemed to be so far up a certain creek without a paddle that the only solution was nationalisation, while the Royal Mail is in such trouble that the only recourse is privatisation?
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