Agree on PFI. But on "opening the taps" well there were reasons. The public realm needed investment and they'd stuck to tight Con spending plans for the first two years - a promise deemed n… (View Post)

It got things done, this is true, but at an inflated cost. To me it illustrates well one of the golden rules of trading. If you can deal with a counterparty who is doing the trade for reasons other t… (View Post)

Perhaps he can be set up with a deeply immersive computer game to play. One that's so good he'll think it's real. (View Post)

Thanks, MR, it's good to read a thoughtful take from off the beaten track. They're in short supply on this one. (View Post)

Yes, the true purity route of handback and disengage wasn't deemed feasible. So it's about compliance and money and geopolitics with the US. (View Post)