Howard Reed is a man who's judgement I trust. He's written on this blog this morning, in response to my comments on RBS almost certainly needing another bail out:
I think if there is another large-scale UK bank bail-out then a lot of the British people will just conclude that the whole system is kaput… we could well face demonstrates that will make Occupy Wall Street look like an afternoon tea party (if you’ll pardon the expression).
If the government does not realise that there must be a tipping point where people in this country are going to say enough is enough and that more bail outs for wealthy bankers working in a system that is both obviously failing and blatantly corrupt then their political antennae have failed.
The possibility of that arriving before Christmas is real. And Howard is right: this won't be a few hundred demonstrating. The prospect of massive coordinated protest is very high indeed. And it would be wholly appropriate if it happens because the government is continuing to refuse real reform by supporting a powerful and corrupt elite at cost to everyone else in this country, because that is what another bail out rather than nationalisation would mean.