Boyd Barrett stumps Dan O'Brien

biteback

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I don't agree with Boyd Barret politically - but I still think himself and Joe Higgins would be interesting additions to the next Dail, purely for entertainment purposes.
 


McDave

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I enjoyed listening to Richard Boyd Barrett on Today with Pat Kenny just before 12pm.

Richard made the point that the Government are borrowing money at 6.5% lending it to the Banks at 0% while the Banks in return hold on to the money and investing, not in small businesses, but in Government Bonds where they are guaranteed a profit by the taxpayer.

Dan O'Brien was flummoxed and said he didn't understand the question when Pat put this point to him. ... he muttered in posh tones meaningless nothings.

Then Richard went on to make the point that Ireland should have set up a State Bank to lend directly into productive activity not dead, failed, private institutions.

Again Dan O'Brien muttered in posh tones and couldn't counter the points of Richard Boyd Barret.

Richard, 3 cheers for you my Boy!
RBB is a clever guy, and DOB isn't god!

The fact of the matter is that there's little logic to the Anglo/INBS bailout, and the bailout of the 'systemic' banks is also a black hole. The fact of the matter is that in order to 'save' those banks, the govt has to borrow money at high interest to 'recapitalise' them. The problem is not this technical logic, but the extent of the bail out decision.

RBB's proposal for a state bank is just as hare-brained as the state's decision to support Anglo/INBS. Anyway, we now have, in the nationalised entities state banks! And the govt doesn't need to go reinventing the wheel in setting up a new institution from scratch.
 

Thac0man

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Here's a viable option - Let the banks sink! Feck it, even if some or all people ended up losing some of their money then so what - these same people are among the idiots who voted the crooks in!

Instead, we try and protect the guilty and prefer to ply the debts onto inncocent children.

People care about little else than money so maybe a tragedy like this would get them to wake up and think about how the coutry is run.
Like RBB you seem to have missed entirely the conseqences of the collapse of all Irish Banks. Fianna Fail and Green voters would not be the only ones to lose their money, everyone would.

- All deposit and current accounts, gone.

- All pensions and investment funds gone.

- All Business accounts would be wiped out.

- All business profits held in bank, gone.

Add to that that no business in Ireland would be able to actually do business. The point I am making is RBB is talking utter balls. He is making political capital and seeking cheap political kudos by deploying opinions that are centered on denying reality and the end conseqences of decisions.

Its all right for you and me to get things wrong or misunderstand them. Its not okay though for someone who is seeking to either inform national debate or one day be in a position to make important decisions to be so misinformed. People in positions of power may make mistakes, they may still be making them. But its entirely another thing to endorse a prospective canididate for such a position of power based on the fact that they live in an alternate reality. That Dan O'Brian was stumped by RBB is probably only becaue anyone would be stumped by someone babbling nonsense at them. An inability to respond to babbled nonsense does not mean the babbled nonsense itself makes sense or is imbued with even a degree of logic or truth.

Transfer Richard Boyd Barrets logic to another crises, health. Our health service is broken and is a black hole for investment. So the solution? Let the Health Service fail and set up an new one. Lets accept like grown ups, that like a bank a Health Service cannot be set up overnight to replace the abandoned one and will reqiure a simular level of capital investment. Now does that proposal sound like a logical solution to the health service? Even assuming that those who suffer from the withdrawel of service will only be Green and Fianna Fail voters.

RBB has no more information about the financial fall out than the man on the street. Thats worrying for anyone of his demonstrated ambition. His proposed solutions only prove that other than telling us what we all already know, he is adept at telling people what they want to hear. Really how is that so different from so many other snake oil peddlers in the Dail? Its not.
 
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ONQ

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On this I have to agree with Thac0Man.

Barrett in essence seems to be an agitator - not much on dealing with the real issues.

ONQ.
 

hellsbells

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On this I have to agree with Thac0Man.

Barrett in essence seems to be an agitator - not much on dealing with the real issues.

ONQ.
Not sure thats right. The bold Dan did`nt answer RBB central point.
 

Thac0man

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Not sure thats right. The bold Dan did`nt answer RBB central point.
You have to admit though that five pages in no one has actually confirmed the government is lending to the banks at 0%. If RBB was a bank its terms and conditions would be open to very liberal interpretation, and only in RBBs favour.
 


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