No national pride left?

I still find this hard to believe, but basically it appears that it is UK taxpayers’ money which is funding Kraft for its take-over of Cadbury. So in other words the UK government is funding foreign predator firms whilst domestic business is starved for credit.

I find this so scandalous I believe it merits its own thread.

The article:
http://news.bbc.co.uk/1/hi/uk_politics/8470776.stm
Clegg attacks Brown over RBS funding for Cadbury bid

Gordon Brown said the government was helping to minimise unemployment
Gordon Brown has been criticised after it was revealed the taxpayer-owned Royal Bank of Scotland is funding the takeover of Cadbury by a US company.

So whilst many countries are setting up state funds and use many of the currently state-owned banks to protect and promote their own companies, the UK seems to be doing the opposite. Just compare the approach with France and its recently established Fonds Strategique d’Investissment. http://www.swfinstitute.org/fund/france.php

Now, to add insult to injury, it is not even a good transaction for RBS. As RBS has demonstrated sufficiently by now, it is poor at dealing with risk. Well, since it wrote the loan, Kraft got downgraded very materially to just one notch above "junk debt" status. http://www.marketwatch.com/story/fit…bbb-2010-01-20

I work in the City but can please someone come and explain to me why RBS is giving a loan to a foreign company with such crap credit rating when it is refusing to lend to UK companies with better ratings, thereby costing British jobs. And could someone please explain why the government is spinning a story that it is opposed to the take-over and will do everything to protect jobs, whilst they could just have told RBS not to make the loan as they were fully aware. Finally, could someone please explain to me that there is so little national pride left that something like this can actually happen.