For years, the utilities companies in the UK have been ripping the nation off, and I think it is high time that something is done about it.  Seriously, how can one justify ratcheting up the prices when commodity prices increase, and then not pass on the savings to consumers when they then decrease, and not only decrease, but decrease dramatically?!?!  Like the banks, which are also vunerable to my tongue lashings, the government should now move to re-nationalise the utilities industry and cap prices once and for all, afterall, thats what we pay taxes for isn't it?

Now, I'm normally a supporter of the Bush Presidency, yes he's done some rather silly things in his eight years in office, but I do think that many of his policies are about right.  It doesn't stop me though from enjoying the specticle this weekend, when on a secret visit to Iraq, a journalist decided to launch his shoes at the out-going president.  At least it gave me a chuckle, and its about time someone really stood up to the leaders of the so-called free world!

Click read more for the clip.

I got a reply from the Nader Campaign on the questions that I posed in my previous Nader Factor post (click here), so, I've re-written my post including their responses;

Ralph Nader is the mostly unknown candidate for the Presidency of the US, and always finishes far far behind the two main political parties on election day.  But why are the Democrats moreso than the Republicans worried about him yet again this time round?  Well, Ralph Nader is seen as a 'spoiler', or in other words, someone who has the potential to creme enough votes from your voter-base, that there is a risk of the other party winning.  Making this doubly worse for the Democrats, is that Nader creme's more of their votes than those of the Republicans.

Ralph Nader is the mostly unknown candidate for the Presidency of the US, and always finishes far far behind the two main political parties on election day.  But why are the Democrats moreso than the Republicans worried about him yet again this time round?  Well, Ralph Nader is seen as a 'spoiler', or in other words, someone who has the potential to creme enough votes from your voter-base, that there is a risk of the other party winning.  Making this doubly worse for the Democrats, is that Nader creme's more of their votes than those of the Republicans.

So who is Ralph Nader?

It's been a very busy morning in the European money markets, with bailouts taking place across the continent, and driving shares in so far stable companies to downside.  Three seperate bailouts resulting in nationalisations have taken place this morning alone, all of this before the US markets get going, and the US Congress debate and vote on their $700bn bailout package.

So far today across Europe;

• Bradford & Bingley nationalised by the UK Government
• Fortis nationalised by the Benelux Governments
• Glitnir Bank nationalised by the Icelandic Government

As predicted yesterday, Bradford & Bingley, one of the leading mortgage firms in the UK has been nationalised, following a weekend of intense talks about its future.  It's share listing on the London Stock Exchange was cancelled prior to open, as the nationalisation was announced.  Santander, owners of Abbey National, also confirmed that it has acquired B&B's deposit and savings business, along with all of the groups property, including its branch network.  The savings business will be integrated into Abbey.

That is the working title of the draft bill to provide $700bn in a bailout package to the financial sector, to be debated and voted on in Congress tomorrow.  The tentative agreement on the bill came in the middle of the night last night, and the bill drafted today.  I've managed to get a copy of the bill (click here [pdf]) which is 106 pages long, and includes many ammendments from the original proposals put forward by Treasury Secretary Henry Paulson at the start of these mammouth negotiations.

John McCain has said that he will suspend campaigning on Thursday to return to Washington DC and help with the bailout negotiations currently on-going on Capitol Hill. In a further shock development, McCain has asked that Friday's presidential debate be postponed so that the bailout negotiations can continue, adding to concern that the talks may be reaching an impasse.  McCain has asked Sen. Obama to do the same.

American International Group came back from the brink over night, having appointed a top New York law firm to draw up bankruptcy papers, after the Federal Reserve, backed by the US Treasury, provided a bail out loan at the 11th hour.  Reports close to the discussions had earlier conceded that the company was entering its final hours and would file for bankruptcy today if a deal could not be done.  In return for an $85bn loan facility, the Federal Reserve will take a 79.9% stake in AIG, and install its own management team to oversee the disposal of key assets of the company in order to repay the loan.