George Monbiot on the bizarre PFI scheme to widen the M25:
Weird enough for you yet? Well, one of the banks reported to be backing the scheme is RBS. The taxpayer now owns 58% of it. This is likely to rise soon to 95%. If the government underwrites the M25 expansion, it will in effect be bailing out RBS twice, then charging itself for the privilege - and for the bankers' fees, including salaries and bonuses. RBS - in other words, you and me - already has £10bn invested in PFI schemes in this country, for which we are paying extravagant rates. If you have come across a state-spending scheme madder than this, please let me know.
Why does this happen? Capitalist realism of course.
This is something quite different: a toxic combination of ideology and terror. No lesson, however brutal, can divert the government from its central project of propitiating its old adversaries: industrialists and the rightwing press. Gordon Brown will keep feeding the beast, however much this costs. True disciple, he worships still at the altar of market fundamentalism, even when the market no longer exists.