- Dec 12, 2007
CB - think through the logic.
Indeed .... its just sheer coincidence that they benefit.But a Bankers and Developers bailout it is not.
so he's a good guy and a top-notch minister, is that it?You are deluded !! You have absolutely no idea what you are talking about whatsoever. You have no concept of how the business world works at all - other than that which you have read from the back of cereal boxes and cartoons. Seriously, Ba'athists?? seriously??
You honestly believe that when a development starts the bank just hands over 100M? The final loan cost of the entire development which will take maybe 2 years and they just hand it over up front?
I would tend to agree with ChickenBiryani - some posters would criticise Lenihan if he commented that the sun rose in the morning and set at night.
CB - not sure if you're actually agreeing or not now....the banks DID fail, yet they're still in business, no culling of senior management and no real enforcement of salary caps....that's a bailout.The banks did fail.
They would all have had their accounts frozen, and would have been told that they would receive distributions from the collections from the loans over the length of time it would have taken for them to be realized by a liquidator or examiner, one way or another.
and I expect NAMA will be the same.
You left out the following...
See this is where you prove beyond doubt that despite your protestations yer just shilling for Lenny.Anglo had €40bn in tens of thousands of customer accounts to whom it would be going "um, I'm sorry but you know your retirement money, em you might get some of it back, over the next 10 years or so but we can't say for certain how much that might be".
These ad hominem attacks are disgusting to be honest. I've come here, honestly and fairly and in good faith and tried to provide a bit of balance.See this is where you prove beyond doubt that despite your protestations yer just shilling for Lenny.
We all know that Anglo did not have ordinary savings accounts from ordinary punters, that elderly Mrs O'Flynn down the street did not have her retirement nest egg in Anglo, that the vast bulk of these "deposits" were held by a few hundred individuals, and that most of the Anglo deposits were in fact in origin developer loans.
I'll grant you you've been much better at trying to defend Lenny than the muppets that usually try to defend him on here, but at the end of the day - Epic Fail.
Please see my previous post to bleupoppy. If you say (a) is correct then I do not doubt you. What I am not sure about (and I must admit tbh that I don't know enough about the different levels in our system) is how someone in a junior ministry (whatever the level) would be expected to have as much pull in actual cabinet discussions as the fulltime members of the cabinet themselves.CB, you asserted that BL was a junior Minister (before he became MoJ), and had no way of knowing about the decisions made within his Govt, and their possible consequences during that period
The essence of any good Govt is prudence. McCreevy, Ahern and Cowen were anything but prudent, and BL in his tenure has been nothing short of reckless.
Do you now accept that:
a) he was a Super Junior with access to all Cabinet documents and briefings;
b) he was at least expected to participate in Cabinet dicsussion, and shares Collective Responsibility for them;
c) his allegedly brilliant legal mind should have identified the downside of gambling the Irish economy on a property ponzi scheme.
I've got nothing personal against BL, but it really annoys me when I hear his spin about "what makes me angry ..." when he himself cannot take responsibility for his own errors.