My previous unconditional admiration for Finance Minister Brian Lenihan has taken a knock. He introduced NAMA legislation to save our heroic bankers and builders. Costing just €90 billion, this is money any taxpayer should be glad to pay.
The Lenihan goes and pees on our parade. Sez he: "But Mr Lenihan insisted that the agency would not be used to benefit property developers or banks."
WTF?!
Doesn't he know these were the very people who gave us the unparalleled growth and opportunities of the Celtic Tiger era? And now he wants to stab them in the back. For shame, Mr. Lenihan.
Friday, July 31, 2009
Thursday, July 30, 2009
At Last! Someone Has Said It!
It has to be said, and now it has been said: Shareholders were to blame for the banking collapse. (Read the article here)
"Tom O’Connell, assistant director general of the bank and the Financial Services Authority of Ireland, said investors got what was coming to them for not keeping bank chiefs in check." Bang on!
While our selfless politicians and public servants were struggling mightily to rein in the excesses, arrogance and financial idiocy of the banks during the so-called Celtic Tiger period, stupid, stupid people on the ground thwarted them at every step.
We need more people like Mr. O'Connell in Ireland — and we need them in the public sector. NOW!
"Tom O’Connell, assistant director general of the bank and the Financial Services Authority of Ireland, said investors got what was coming to them for not keeping bank chiefs in check." Bang on!
While our selfless politicians and public servants were struggling mightily to rein in the excesses, arrogance and financial idiocy of the banks during the so-called Celtic Tiger period, stupid, stupid people on the ground thwarted them at every step.
We need more people like Mr. O'Connell in Ireland — and we need them in the public sector. NOW!
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