Anti-Thatcher matters

When Margaret Thatcher used to say, «There is no alternative», the rest of the slogan was something like «to free markets and smaller government». Now the «Tina» phrase is due for a comeback, but with a new ending – «There is no alternative to nationalisation of as much of the financial system as necessary». The UK put this principle to work on Wednesday with a massive rescue plan for the banking system. How massive? Up to £50bn of capital, a £250bn loan guarantee and another £200bn from the Ban...