"It is not the function of the Government to fund or bail out the banks."

He3

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How about this as something we can all agree on? -

"It is not the function of the Government to fund or bail out the banks."

Brian Lenihan, November 19th, 2008
__________________

S&P says bailout cost to be at least €50bn

RATINGS AGENCY Standard & Poor’s now believes the upfront cost of bailing out the banks will be at least €50 billion – its estimate for the maximum initial cost just three months ago.


SIMON CARSWELL, Finance Correspondent Irish Times November 25th, 2010

__________________

Sometimes it is hard to keep up with the twists and turns.

Still, maybe there is some value in recalling how far we have come from where we thought we were.

Maybe someday we will learn why.
 
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ellie08

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"It is not the function of the Government to fund or bail out the banks."

Brian Lenihan, November 19th, 2008
__________________

Sometimes it is hard to keep up with the twists and turns.

Still, maybe there is some value in recalling how far we have come from where we thought we were.

Maybe someday we will learn why.
Pity he didn't listen to himself isn't it?
 

collina

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"It is not the function of the Government to fund or bail out the banks."

Brian Lenihan, November 19th, 2008
__________________

Sometimes it is hard to keep up with the twists and turns.

Still, maybe there is some value in recalling how far we have come from where we thought we were.

Maybe someday we will learn why.
No lie there so. The Government will not fund or bail out the banks, we will.
 

Mister men

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Cheapest bailout in history.
 

Expatriot

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He is a bluffer and his bluff was called by the markets that are going to make a killing out of the end of the Euro.

If their bluff is called it will be by someone that is not Irish and knows what they are about.

Why people still insist on saying Lenihan is the strong card in the cabinet baffles me to be honest. He is a disaster in my opinion. The worst minister for anything we have ever had. Nothing personal, but on the facts he is a total failure.
 

ellie08

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Sociopaths are manipulative: This is the most prominent among the various sociopathic tendencies. They do have a sharp brain, but they use it more for their evil intentions. Once they decide on something, they feel that manipulation is the easiest way to get their work done.
They are charming in nature: Though they are evil within, they bank on their outer charm to trick you into a web of deceit. A sociopath is likely to be one of the most charming person you have ever come across.
They are pathological liars: Lying doesn't bring guilt or shame to a sociopath. On the contrary, it is an important tool for them to become successful in their sadistic intentions. Read more on pathological liars.
They lack remorse: Sociopaths can justify any deed they commit, without any room for remorse. For them it is always I, me and myself, and to satiate themselves they can stoop to any level.
They lack emotions: Another prominent characteristic trait of sociopath is lack of emotions. They do laugh and cry, but these emotions are superficial, which are more often used as a cover for the wicked intentions.
They are unreliable: If you have any sociopath around you, you are bound to be well versed with the phrase 'breach of trust'. Being emotionless also means they don't really care about spoiling other peoples life, and at times also derive some sort of pleasure from it.
They are egomaniacs: Though they can't stop praising themselves or their deeds, they seldom have praises for other people. The pain that they experience when you are happy is much more than the pain they are likely to experience in their bad times.

Above are some traits of a sociopath. I hope when voting, people remember these.
 

Levity

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"Why people still insist on saying Lenihan is the strong card in the cabinet"

Maybe the Goverment look on him as a trump card, but another definition of trump is thus..
to trick, or impose on; to deceive
So, yes he is a trump!
 

Watch The Break

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Has Lenihan really made any decisions I wonder?

Or has he just been given the job of selling them to the rest of us?

First our banks told him what to do. Then the ECB told him what to do. The man is a sophisticated puppet.
 
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Lenny and anglo
IT march 2010

It is worth recalling what the Dáil and the Irish people were told by Brian Lenihan in January 2009 when he set this policy in motion.

“The position,” he said, “is that the current loan book of Anglo Irish Bank remunerates the deposits. In other words, there is sufficient income derived from the loan book to pay for the operation of the bank and to pay for the deposits at the bank. This is a fundamental and important point. Much of the public debate has suggested that the bank is not in a solvent position. The bank is solvent and it is now coming into State ownership.”

The claim that Anglo was solvent in January 2009 was ludicrous. Anglo is about to post losses of up to €12 billion. Brian Lenihan also assured the Dáil that the total recapitalisation requirement of Anglo was €4 billion.
 

Asparagus

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You really are a Dick. Attack the policy not the personality.
I don't believe he has... his longevity is testament to that.

I believe that he is a pathological liar.

All his policy is a lie so i attack the liar.
 

Aindriu

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I don't believe he has... his longevity is testament to that.

I believe that he is a pathological liar.

All his policy is a lie so i attack the liar.
+1
 

cashinhand

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Mr Lenihan at the very least prevaricated on the extent of Irish credit union exposure to Anglo Irish bank to support the guarantee of Anglo Irish Bank and its subsequent nationalisation, which will now be paid for by the poor and underpaid.

The suggestion that Anglo needed to be supported to save the credit unions' investments was "untrue" according to the credit unions' chief executive.

See extract below from article by Pat Leahy in SBP (25 April, 2010):

Credit union body angered at Anglo Irish link | The Post

The organisation representing credit unions has said that it invested just €99 million in Anglo Irish Bank bonds, and has called on the government to ‘‘cease referring to these investments as justification for guarantees and the continuation of Anglo Irish Bank’’.

Ina statement to The Sunday Business Post, Kieron Brennan, the chief executive of the Irish League of Credit Unions, said it was ‘‘unwise and irresponsible’’ to suggest that the credit unions had large investments in Anglo.

Brennan said it was ‘‘unfortunate’’ that the credit unions were being used ‘‘to justify arguments for government support for financial institutions’’.

‘‘The suggestion is that Anglo must be supported, as failure to do so would jeopardise large amounts of credit union investments," Brennan said. This suggestion, he added, was not just untrue but could have the effect of ‘‘undermining confidence in credit unions’’.

Ministers and TDs have repeatedly suggested that credit unions hold significant sums in Anglo bonds.
 

cashinhand

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More good data on Mr Lenihan's prevarication/medacity here:

Lenihan Lied on Anglo Credit Union Bondholder Claims - SBP [Archive] - Political World Irish Political Forums & International Political Forums

...including this quote from a speech to an Oireachtas committee where he throws in the credit unions:

"It is important to note that the bulk of the bonds in issue by Irish banks are not subordinated debt but debt of a far more fundamental character. They are ordinary senior debt bonds entered into by the banks. There is a perception in the media that senior bondholders are natural risk takers, aiming to achieve high rewards for taking high risk. That is not the case. Senior bondholders are usually and typically pension funds, insurance companies and other long-term providers of debt. I have pointed out in recent days that they also include credit unions. These bondholders provide loans for viable entities on the basis that they are senior to other creditors and are secure. In other words, they are in the same position as depositors. These same senior bond debt investors also buy Government debt and are an important source for keeping the economy funded. These senior bondholders are guaranteed under the Government guarantee scheme. Any suggestion these parties should be invited to consider a reduction in the amount repayable to them would have catastrophic effects for the banking system, the funding of the State and the wider economy. Many of these senior bondholders are trading companies in Irish commercial life with substantial numbers of employees."
 

robut

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BACK TO THE FUTURE - 2008:

Sunday Business Post | Irish Business News

Lenihan: the bank bailout stops here - Sunday, November 23, 2008

"The government is in no mood to provide the increasingly cash-strapped banks with an unceasing supply of funds."

‘‘It is not the function of the government to fund or bail out the banks,” Lenihan said.

This is an article where this thread title quote appeared.

Robut
 
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Rebel_Yell

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I don't believe he has... his longevity is testament to that.

I believe that he is a pathological liar.

All his policy is a lie so i attack the liar.
Nothing, just nothing I can say. Well I could but I have to go and finish this absolutely true book that proves that CJH was directly decended from Atilla the hun. Get a grip FFS. You honestly think he invented an illness, then went about loosing a crapload of weight, took on a particularly wirey hairstyle and also managed to rope in the entire staff of the Mater Private.

There are muppets and there are muppets. Why am I even arguing with you.

The mind boggles, it really does.
 


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