Darling speeds up recapitalisation plans

Having finally caught onto what the banks want, it seems that Alistair Darling is going to dance to their tune and speed up plans for a recapitalisation package.  According to the Standard, around £50 billion could be pumped into the sector “within days”.

Sure, the dither-o-meter has just receded a notch.  But now comes the separate question of whether recapitalisation is the right course of action.  Truth is, it could help stabilise the markets for the time being (they’re currently plummeting on the back of banking losses).  But will the effect be anything other than temporary?  Can the public finances afford the hit?  Will future taxpayers be shielded from any undue burden?  I, for one, have my doubts.