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We've wasted 2 years and countless billions dealing with the banks


Akrasia

Well-known member
Joined
Oct 6, 2006
Messages
1,128
Every decision Lenihan has made has been wrong
In september 2008 Lenihan had the choice to either take temporary state control over the banks to prevent a run on the irish banking system.

Instead himself and Brian Cowen pledged to 'write any cheque necessary to protect confidence in the Irish banking system'
2 years later, all the main Irish banks are nationalised at a cost an order of magnitude greater than their market value

Lenihan and Cowen focused all their efforts on trying to reassure the markets that Ireland is viable and financially stable. Our bond prices are now at 7% and the head of the NTMA has Begged Lenihan to pull out of the next 2 bond auctions.

Now Lenihan is on the radio blaming the markets for not being reasonable and for putting an unfair price on Irish debt.

Lenihan was challenged on newstalk about his quote "this is the cheapest bailout in the world" and his response was that he meant it as the cheapest bailout in the world 'so far'

Honestly, WHAT THE ************************! That's it right there, they are trying to push all the costs into the future, onto future generations, and more politically, onto future governments.

This craven government are sinking this country. They should be removed immediately and should face charges for treason.
 

owedtojoy

Well-known member
Joined
Feb 27, 2010
Messages
45,460
New just in ... Anglo will cost 29.3 Euros, probably rising to 34 billion.

AIB need another 3 billion.

This just goes on and on ....
 

Mister men

Well-known member
Joined
May 9, 2010
Messages
2,887
I never thought i'd say this but i think we need to rise up and overthrow this government as a people as they are destroying this great country. We need people marching on the streets now to demand a national government. My children will have no future here if FF keep this up for another few months. They seem to be delusional at this stage. Scary what's going on tbh.
 

Tony Liar

Active member
Joined
Sep 4, 2010
Messages
143
Ireland is finished. If you are not a member of FF or part of one of their Golden Circles then you should have yourself a load of grief and get out of the country.
 

SilverLining

Well-known member
Joined
Jun 7, 2009
Messages
1,373
Brian Lenehan has just been on BBC R4 Today Prgoramme trying to explain his cunnning plan. This is supposed to impress the cursed markets, I imagine.
 

dónal na geallaí

Well-known member
Joined
Mar 29, 2010
Messages
617
Just heard Lennie on Today -BBC Radio 4's flagship politics show.I didnt hear the start but he got off quite lightly for Today,as nobody mentioned the obvious solution of letting Anglo fail.Good job it wasn't that rotweiler John Humphries!

They'll have to let it go ultimately and we'll be left to rue all the wasted billions.
 

dónal na geallaí

Well-known member
Joined
Mar 29, 2010
Messages
617
Brian Lenehan has just been on BBC R4 Today Prgoramme trying to explain his cunnning plan. This is supposed to impress the cursed markets, I imagine.
Who did the interview Silver,was it Justin Webb? Peston was talking about Anglo earlier and even he did not mention default or bankruptcy for Anglo.Disappointing,Humphries,Naughtie -they would have filleted our Lennie,as it was he was treated with great deference I thought.


But then the Beeb always go into cringe mode when they have a Tory govt that hates public service broadcasting and cant wait to flog them to Sky!:rolleyes:
 

roc_

Well-known member
Joined
Dec 5, 2009
Messages
6,455
... we'll be left to rue all the wasted billions.
No, not ALL of us... Many people wouldn't think of these billions as wasted. ie. those whose money it was that was shovelled out to these property developers... These parties include the various categories of bondholders; the wealthy individuals and institutional investors who had deposits in Anglo; the institutional investors in the money markets; and it would be fair to say, the property developers themselves who used to bank their extraordinary profits with Anglo... before the whole scam blew up on them and our government then proceeded to give them ALL two years to ferret their gains away... leaving US to make up the consequent shortfall.
 

SilverLining

Well-known member
Joined
Jun 7, 2009
Messages
1,373
Who did the interview Silver,was it Justin Webb? Peston was talking about Anglo earlier and even he did not mention default or bankruptcy for Anglo.Disappointing,Humphries,Naughtie -they would have filleted our Lennie,as it was he was treated with great deference I thought.


But then the Beeb always go into cringe mode when they have a Tory govt that hates public service broadcasting and cant wait to flog them to Sky!:rolleyes:
Justin Webb did the interiew and was far too light with Brain II. Jim Naughtie should have been the one as John wasn't on. Brian II has using delaying/blocking tactics oer the last too years to delay the inevitable. FF would love to hand over to Enda and his Merry Band of Arrogant Loonies and go into opposition to be done with this millstone.
 

dónal na geallaí

Well-known member
Joined
Mar 29, 2010
Messages
617
Justin Webb did the interiew and was far too light with Brain II. Jim Naughtie should have been the one as John wasn't on. Brian II has using delaying/blocking tactics oer the last too years to delay the inevitable. FF would love to hand over to Enda and his Merry Band of Arrogant Loonies and go into opposition to be done with this millstone.
Webb is a strange guy.At the Lib dem conference he was ranting - and I mean ranting - about tax avoidance.When his interlocutor mentioned that it was 'legally right' Webb kept shouting :It is morally right! It is morally right!

John,it seems the 'left wing BBC' have sniffed the wind of change in UK politics.But letting corrupt failed banks to their fate is not really a left/right issue.In fact,it is something (the only thing?) that unites social democrats and fiscal conservatives.On the banks they only differ in methodology.Thus the banks and brokers should be under proper control and supervision - Socialists and Social Democrats.Or left to the discipline of a truly free market - Free market conservatives.Neither of these things is happening.

I know I have left out old Christian Democrat type centrists,perhaps they incline towards the first option?
 
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