Irish bailout cheapest in world, says Lenihan - The Irish Times - Fri, Oct 24, 2008Irish Times said:MINISTER FOR Finance Brian Lenihan has said the bank guarantee scheme was "a necessary first step" and "the cheapest bailout in the world so far".
Speaking before the lunch, Mr Lenihan repeated that he wanted the banks to raise any additional capital needed to protect against unforeseen losses by private means in the first instance.
He said the banks' capital needs were being reviewed.
Where does Mr Lenihan think the banks are going to find E15 Billion in private sector investment in the current environment? He's taking us all for fools and the markets know it.