I wonder will those who protested against Head Shops and those who made public their gripe at not being able to go on holiday because they left getting their passport to the last minute turn up outside any banks today.
I doubt it. Later on we’ll have details of NAMA and recapitalisation of banks announced to the Dail by Brian Lenihan. We’re pumping billions into banks like AIB who show their appreciation by raising interest rates. Why this isn’t cause for protest I surely don’t know. They take our money then they take our money. And you can be sure that they’ll be sitting around thinking of ways to take our money after they take our money having already taken our money.
The government says NAMA and bank nationalising is required to maintain the credibility of Ireland’s banking system. Credibility? Haha. Here’s David McWilliams:
Bailing out the banks makes us less credible, not more credible. Yet the government insists that ‘‘there is no alternative’’or that this is the ‘‘only game in town’’. So we now have a successful company, like Ryanair, and hundreds of successful small businesses which will be penalised and asked to pay higher taxes to bail out a delinquent company like AIB. What sort of signal does such a policy send to the rest of the world?
How can such a transfer of wealth from the innocent to the guilty, the prudent to the profligate, possibly make the system more credible?
The bottom line is the banks gambled, the financial markets were a giant casino for them. They lost, the wheel came up red, not black, yet we’re the ones who have to pay. And our kids will pay. And probably their kids. What return do we get for this investment? None, as far as I can see, apart from higher interest rates, banks who refuse credit to businesses and potential mortgage holders, while Anglo Irish staff get a raise.
Yet Johnny Bungle who booked a sex trip to Thailand months ago and waited till the week before his departure to get a passport is out shouting and complaining. NIMBYs who don’t want a shop which sells products which do nothing much but make people body gurn at 3am are out in force.
And the rest of us are lined up, lubricated holes in the air, waiting for a rapin’.
Are we just selfish and apathetic?
or maybe its the same ole “ah, that’ll do paddy” collective attitude!
‘Body gurning’ * laughs*
Now bend over, the government is with the fluffer.
I’m no fan of all this bailing out, but..
Bailing out the banks makes us less credible, not more credible.
Most of the big American banks have paid back their loans, and the US government are set to sell their stake in Citigroup at a profit.
So, it has worked in parts of the world, its not an entirely flawed concept. Annoying, yes. But it seems to work.
The banks are tsking us for more than the entire EU/IMF rescue packsage for Greece. Oh, and we’re contributing to that too for fear the € will be cunted in the bastard by currency speculators.
roosta – how did they pay them back so quickly? And do you have any faith that the Irish banks would do it?
truly, the majority of irish people are fucking morons. Last saturday week, 400 showed up to protest outside a headshop in clontarf (it’s been closed subsequently)- while not 3 miles away in beaumont A&E people are spending the night on trolleys waiting to see a fucking doctor (this has going on for years). this country deserves fianna fail, pat kenny, joe duffy,mary harney, mary coughlan, sean fitzpatrick, and all the other worthless shitcunts given prominence by “ordinary” people. The catholic church didn’t rape our children, we did.
Twenty, I have the feeling that they can print or invent new money in the USA, if they feel like it. However, that may be a simplification.
-Twenty
They paid them back quickly by doing what they always do, make profit by taking risks.
They probably didn’t learn a single thing, and the bonus culture/risk culture is probably back in full effect, but from a purely procedural point of view, the system is beginning to work in the US.
I have no reason to believe either way whether the Irish banks could do it. Most likely not. But I guess my point is I don’t see how a bailout is not-credible, other countries have done it, and some have done it to success.
Again, i’m no fan of bailouts etc. but the US seem to have pulled it off, for now.
And it wasn’t government money, was it? The Federal Reserve is not govt run as far as I know.
Its not down to being Irish, Parkinson’s law of triviality http://bit.ly/1aajFP argues that when your average Mr & Mrs Byrne are asked to consider something complex – NAMA / The Health Service, they leave it to the “experts”.. ask them for their opinion on something simple “joe Duffy” and they are onto it like a shot..
Perhaps these issues just need to be revisited as “What shade of shite brown should we paint the new NAMA HQ”?
Interesting .
We could force all banks to have a head shop counter so people might protest about real stuff when they go down to complain about whacky bath salts
I think the head shop protests were a valve to release some pent up anger instead of all of it being targeted at the government. No better man than Joe Duffy to tow the line for Fianna Fail.
As Martin Mansergh likes to say ‘You shoud listen to your betters’.
Thats alright if your betters are better educated or qualified to handle running the country.
These ones aren’t. Mary Coughlan in any other country would have been a social worker for a year unril her caseload got in a mess and she’d then have fucked off where you can get away with almost anything. Haringey probably.
Good point papalamour.
I remember the Father Casey case years ago. (Christ, it seems like such an innocent church scandal by today’s standards) He’d knocked up an American lass who was working as a chambermaid in Dublin and paid her off with 200 grand of the church’s money over an 18-year period.
So we’re talking pre-marital sex, breaking of chastity vows, blackmail and embezzlement. All of these being quite complex ethical issues the seriousness of which could be the topic of a well-informed and reasoned debate.
I remember some ould wan ringing some radio show at the time and practically yelling “WELL AT LEAST HE DIDN’T USE CONDOMS!” That was the day I gave up on the fucking Irish.
Dear Peasants,
Shut up and hand your money over. NAMA is a big hole in the ground which Fianna Fail intend burying lots of corruption, backhanders and fraud in. Its your duty to help us hide this. Anyone who doesn’t isn’t a patriot.
Is mise le meas
Martin Mansergh
And it wasn’t government money, was it? The Federal Reserve is not govt run as far as I know.
As far as I know it came from the Treasury, which is the US Governments money, taxpayer fed.
TARP-
http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
Mansergh is a self-important, jumped-up, smug-faced, toffee-nosed little prick. Fuck him.
Same everywhere,Twenty. In the UK the banks were not only bailed out, they were given additional cash to start lending again. But are they lending? Of course not. Are they paying bonuses? Oh yes. Can we do anything? Only vote in another bunch of cunts who need to keep the bankers sweet, I’m afraid.
All of this has happened before and all of this will happen again.
looking out at the snow thinking about nama i have no work me stomach in a jock from the beer and curry is there any headshops in D4
There is nothing one country can do on their own about bailing out banks and the transfer of citizens wealth into the hands of bond holders and therefore the banks.
The people who are to blame for all this theft don’t recognise borders and countries. They don’t think or operate in those parameters. These people are international gangsters. They are the very same as the loan shark in Ballybough with the baseball bat and the pitbull terrier.
Their commodity is money. The less money people use, the less influence and power these people have. For individuals, barter and self reliance is the way forward.
‘Course it will. Now that the banks have got everybody used to the idea that profits are for shareholders and to pay bonuses and losses can be fucked over to the taxpayer how long do you think it will be before it happens again?
Oh- and how many bankers will go to jail for producing false and fraudulent accounts to announce to the market every year?
None. I recommend forgetting about the law as the law is subject to Fianna Fail in Ireland so it’ll have to be direct action against bankers, propert developers (otherwise known as FF-friendly borrowers) and their assets.
I don’t give a fuck whether people think kits right or nor to take it out on individuals. Those individuals are at this moment gambling that they’ll get away with it and the mug taxpayers will just pay up.
I’d run any cunt involved in stacking up debts for NAMA, and their families, out of the country.
Fuck the joke of a legal system.
David McWilliams is a fucking cunt, and you’re a populist financial illiterate.
And craaaaaaaaaash goes Quinn Insurance…
Since we’re being so generous why don’t we bail them out too, if no one wants to buy the ‘business’.
Hey! That’s how I always talk on the telephone.
And yes, banks bad, more protesting etc…
I’d be moving my insurance away from Quinn pronto. They’ll do anything not to pay out on a claim. Even more so than before.
My view is, fuck the financial markets – ok, we’ll have to pay more to borrow, capitalism is about taking a risk and taking the loss if the investment doesn’t work out.
My view also is that banks currently don’t exist as a service to society, they’re exclusively a profit-making enterprise. So why should we hope on the wing of a prayer that that lend to us once recapitalized? I hate to say it, but I think for an economy to grow, there needs to be a *small* amount of reckless lending, i.e. businesses that have real potential but are risky might be worth lending to as the potential payoff can be worth the risk.
There’s a difference between lending money to business with a good idea and lending €700,000 to a couple with low paid jobs in a factory and a bad credit history.
I blame the Rothschilds.
MC, don’t leave everyone hanging like that – elaborate!
I’m conflicted about this to a degree. If we had let Anglo and the rest fail, most of their loanbook would have died with them, unless their loanbook was bought by another, more than likely foreign bank.
Now as we can see with Halifax, foreign banks were only interested in being here while the sun shone.
So we take over the banks and the loan books through nationalisation and NAMA, and we control the loans, the developers will remain indebted, but now they are indebted to us.
So if there is a pay-off (and it might take years) that pay off will be ours, although I am hoping against hope that by the time the shit settles most of the current incumbents in Dail Eireann will have fucked off.
I’m not happy about what’s happening, but at this stage, i just want them to get the fucking thing moving, prosecute anyone who acted outside the law rather than grandstand an arrest at 6.30 in the fucking morning, and sort it out.
Oh and some proper sunshine during June, July and August would be nice.
As I said, hoping against hope.
I think there’s more chance of the sunshine than anybody being prosecuted or held accountable.
Look at me, now look at your man, now back to me.
I’m on a horse.
Banks are moneylenders in the true sense of the word. When people couldn’t pay the Medici brothers they used to do what current moneylenders do, they’d beat the shit out of you. Plenty of the medici clan and the rothschilds clan spent time in jail for assaulting people. Banks still behave in that manner though now they do it through the courts. Nobody, and I mean nobody, has ever taken on a bank in this country in the courts and won.
I don’t know enough about NAMA to express an informed opinion yet. And I have a gigantic hangover.
I’ll be back.
ughhh I feel shit.
when you puke the yellow stuff up in the morning itchy ughhh
“anybody being prosecuted or held accountable.”
I actually think some chancers (bankers) will be held accountable but that it will only be a kind of sleight of hand.
The big trick is to divert us from noticing there is absolutely no change in the culture and ethics of the financial services sector.
Look at me, now look at your man, now back to me.
I’m on a horse.
exactly
anybody who thinks that ireland inc is going to punish financial impropriety needs their head examined.
two words
jim flavin
Their commodity is money. The less money people use, the less influence and power these people have. For individuals, barter and self reliance is the way forward.
HM have you been at the bath Salts?
I’ll swop you one wheel barrow full of organic carrots for one ipod? and maybe 5 albums?
David McWilliams is an utter tool.
Yesterday it was Bock the fucking Robber!
And if we did let all the banks go bust then how would we bank then?
We would probably end up with one large financial institution owning all our baking business, and we might be blubbing slightly more than we are now about a .5% interest rate rise…
I have been at the salts again Sam.
I’ll design you a brochure in exchange for a loan of your car twice a month for five years or a hot dinner once a week for three months.
Someone told me two banks are on fire in the city centre.
Anyone else here that or is it just wishful thinking?
I think every prick that has laid off debts into NAMA should have their houses burned down. For starters.
Then they, their wives and kids made to move abroad. Where they don’t have any influence to deflect the legal systems away when their cons show up.
Isn’t the act of treason essentially the betrayal of a state by it’s own people?
Well that’s what NAMA is. Any other country would have them hanged.
The answer to your q is probably explained by two concepts – “abstract” vs. “concrete”
As Uncle Joe noted – though he was referring to people rather than euros – [unbelievably huge] billion is a statistic, not a tragedy.
Yes, but Uncle Joe was a graduate of a Jesuit seminary.
‘Give us the boy and we’ll give you the man’ the Jesuits say.
They certainly fucked up with that pupil…
Cowen spouting about how it’s a global crisis and he had nothing to do with it – http://www.oireachtas.ie/viewdoc.asp?fn=/documents/livewebcast/DailFlash512KB.htm
jesuits = catholic
uncle joe went to an orthodox seminary;
http://en.wikipedia.org/wiki/Joseph_stalin#Early_life
Gosh come to think of it, that buffoon has been very silent of late Twenty.
Under a desk sucking his thumb, hoping it’ll all go away maybe?
Totally utterly useless cunt.
Harney is NAMA for burgers.
I was just thinking, today and tomorrow are days to watch for out sneaky negative press releases from the gubberment. They’ll use NAMA as cover for pushing through other stuff we don’t like.
Dear Irish cousins, look on the bright side.
There will always be an England and you are all still welcome, leave you’re degrees, and you’re cock-anime collage qualifications behind, since the East Europeans cleared off out of here, there is plenty of shit to shoveled,and anyway they’d only call you a stupid Paddy if you turned up at the sewage works in a Mortar Board and Gown.
Sorry, but we had the last laugh in Croke Park.
I’m still laughing at “body gurn.”
People didn’t protest there for the same reason they didn’t protest it here, who the fuck keeps their money in a bank anymore? Are you daft? It’d be safer to paste it to the outside of your house, or flush it directly down the bog. And Conan’s right, we just print up more money whenever we want.
And the Fed may not technically be the government, but come on, anything with “Federal” in the name and a URL ending in “.gov”? Of course that’s the government, they’re just taking the piss. “These are not the droids you are looking for.”
thanks alfie i’ll just get me shovel
http://www.rte.ie/business/2010/0330/quinn.html
my initial reaction to the fact that the owner of quinn went straight to the cabinet was
this is a banana republic
ff cunts
The national Debt was DOUBLED today-Black Tuesday. This is the reality of the mess. The taxpayer in the years to come(10-20) faces an unmerciful hammering.
I’ve just started reading the Lenihan bullshit =
This country has come a long way since we introduced the State guarantee 18 months ago. Back then, our banks were on the brink of financial collapse and our economy had gone into reverse. Revenue had fallen steeply and unemployment had risen sharply. For the first time in a quarter of a century, we were experiencing negative growth.
Economic activity remains weak and we face further difficult decisions. But the crucial difference is that we now have a credible fiscal position. That is because over the last two years, we have introduced budgetary adjustments of more than €15 billion. As a result, we are now in a position to stabilise the deficit and we are on a firm path to economic recovery.
This adjustment has imposed a heavy burden on our citizens. Taxes have increased, public sector workers have suffered significant reductions in their pay and social welfare payments have been reduced.
No mention of the 150k extra people who are now unemployed. And the further I read in no mention of government complicity creating the chaos.
cunt,./..lenihan is a spooofing cunt who uses his legal training to talk total shit
“cunt,./..lenihan is a spooofing cunt who uses his legal training to talk total shit”
I always completely thought that. Lenihan is a highly educated barrister, well trained in the black are of spin, mixing the truth with the half truth with downright lies and omissions – it always annoys me how easily impressed people are by him, all the while never really considering his policies.
^mixing the truth with the half truth with downright lies and omissions to produce a convincing argument. Read up on the Reality Distortion Field regarding Apple and Steve Jobs…
http://en.wikipedia.org/wiki/Reality_distortion_field
i will dk but tonight is an early night with zero brain strain. as joey ramaone sang – “my brain is hanging upside down”.
miriam o’callaghan is a fucking useless fuck
“…i’m no fan of bailouts etc. but the US seem to have pulled it off, for now.”
Doesn’t the US Government now own a shitload of “toxic debt” or mortgages and loans that aren’t worth the paper they’re written on and that they will be lucky to get 20 cents in the dollar for?
Given that the crappy loans have been shifted from the various banks’ books to the US Government, it seems reasonable that the banks are now making money again.
But the shit is still there, waiting for the just the right fan to come along.
How dare you say such a thing about yummy miriam.
Miriam O’Callaghan needs to fuck off and open a boutique in Dalkey like the rest of her type.
Sorry Peadar but it’s the truth.
miriam o’callaghan is so far up fianna fail’s hole she can almost see gerry ryan’s feet.
fuck them all.