With Anglo Irish Bank apparently soon to announce losses of 12 Billion Euro – is it time to cut the losses and close it down? This article by David McWilliams suggests it is.
In the article titled “Money-Sucking Anglo is our Financial Stalingrad” – he compares it to the battle for Stalingrad in the Second World War. Germany kept fighting for Stalingrad – even though they couldn’t win. Hitler thought that the credibility of the German war effort was on the line in Stalingrad. He was convinced that if they cut their losses there, their credibility as a fighting force would be irreparably damaged.
