It's interesting that when Do Nowt Dave was 'speaking out' about this on the BBC News website...
Ignoring how stupid this person sounds using the phrase even Gorgon has given up on, because he realised (too late) he was over-using it. But Labour don't seem to explain why doing nothing is bad.
As I understand it, we the tax payers, through no choice of our own, have now bailed the banks out twice to the tune of hundreds of billions. (On a side note, everyone is talking about billions and it's easy to lose a sense of perspective - a billion minutes ago, the Roman empire was flourishing). Yet what have we got for the billions of pounds that were essentially given to the banks? It seems absolutely fuck-all has changed - so much so that they needed a second bail-out. People are still losing their jobs. Companies are still folding. Banks still aren't lending - but they are considering paying their staff bonuses regardless.
So if we hadn't bailed out the banks, where would we be? People would still be losing their jobs, companies would still be folding - but we'd be a good few billion up. How much worse would the situation be if we hadn't bailed the banks out?
Fuck it, guarantee people's savings, and let the banks go to the wall.