So Rangers and Portsmouth go bust. Good.

Because this is the way that capitalism deals with screw ups.

We\’ll have all sorts coming out of the woodwork claiming that this shows what is wrong with contemporary society etc. And they may well be right.

But what they\’ll be missing in their calls for changes in the law, for community owned football clubs, for mutuals, for the crucifixion of tax dodgers and all the rest is that what we\’re seeing here is the system dealing with a couple of screw ups.

Continuously lose money and not have a sugar daddy to cover the losses? Go bust.

This isn\’t therefore evidence of how the system is screwed up. This is evidence of the system dealing with screw ups.

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