55 billion reasons to say no

So now the good old UK government is on the verge of bailing out Northern Rock Bank, by nationalising it, having already given this great institution £ 55 billion. That is just about $ 110 billion.
What is wrong with this? Quite a lot.
Banks are entrusted with our money and they spend it while we don't have it and we trust them to do it wisely. They then charge us for using it.
So when a bank goes into meltdown, it has happened because of its own bad management of its shareholder and account holder money. Global circumstances? No, I don't think so. Local circumstances maybe.
It is all the fault of the private investor who had his home reposessed. That is what we are told..
Well, who gave the person the money?
Who gets the house and then sells it? That is not a loss. The money should be regained from the forced sale, or at least most of it.
So it is not the investor's fault.
This country cannot afford to buy proper armoured protection for its soldiers on active service overseas. That is what we are told.
This country cannot afford to have a Navy with the necessary numbers of ships. That is what we are told.
This country cannot afford to properly equip or maintain its air force. That is what we are told.
Public sector pay increases cannot be afforded. That is what we are told.
Hospital budgets, school budgets have to be cut. That is what we are told.
There was no money to help Rover Group and save thousands of jobs. That is what we were told.
But there is £ 55 billion to bale out a small group of overpaid bankers who can't manage other people's money properly and, no doubt, billions more available when this bank is nationalised.
We are told that we must look at he big picture and think of the effects this would have if Northern Rock collapsed.
The big picture?
We have a balance of payments deficit that is bigger than it has ever been. That means we are importing and buying more than we are making and exporting.
We are so chronically short of inward investment that we are losing markets and losing the skills base vital to a strong economy.
We are not far short of having two million people out of work.
Our armed forces are so weak and demoralised that we could not fight a full scale conventional war and may be forced into using tactical or strategic nuclear weapons in order to defend ourselves in a time of crisis.
That is part of the big picture.
I am sure you can add to the list.