The Situation We Are In

MikeCork2009

Okay I may be young, I may not have lived through a recession before (well I was around but very young) but the position this country and its financial sector now finds itself in is to me sickening. A degree in Finance and a Masters in Finance/Economics as well as some experience in the investment banking sector (now on my arse unemployed without any chance of getting a job again for a good while imo) gives me the right to speak on what I see unfolding before us. The scandal that is Anglo/IL & P/Nationwide would not and shoud not be tolerated in any other country in the world. That crooks like Sean Fitzpatrick should spurn our own government is an affront to our democracy, that white collar crime go unpunished while thousands of hard working Irish men and women lose their jobs is disgraceful. The service that our banks and building societies provide in facilitating commerce is undeniable and to provide bailout money is necessary yet to allow those who orchestrated our downfall to walkoff with large bonuses or illegal loans is not on. Our banking system is now a joke, our regulatory authority a sham and our government a toothless enforcer....how can this country ever again even argue to attract foreign investment, to call itself a financial hub in Europe (what role now for the IFSC)??? I am both saddened and very angry and how the Irish people can stomach this corruption from its banks while they continue to send us letters looking for loan/mortgage repayments having taken our money (to pay its fat cats) is beyond me.

Time Magazine

I don't really see how this is going to create the sort of discussion we encourage on the Economics forum. Bounced to AH.

Senna

Bounced to Recession Forum...OH wait

SoWatchaWant

Thanks The Economist, we lap up these Recession Threads in After Hours these days. We can't get enough of them.

IvaBigWun

Didnt read it.

I dont do non paragraph posts.

Time Magazine

SoWatchaWant wrote: »

Thanks The Economist, we lap up these Recession Threads in After Hours these days. We can't get enough of them.

Try modding the Economics forum

AH mods can do with this thread as they see fit, perhaps merge it with something. I figure putting it here is friendlier than sending it straight to the recycle bin.

Alessandra

There is a policy of corruption from the top down. The banks have the Government in a bind in some way and thats why Cowen and Co are holding back.. There is a lot more to come out. We will be the mockery of of European counterparts. Can't imagine who would want to lend to a country whose method of busines is cronism(sp?) and brown envelopes. Nothing has changed since the Haughey era.

Not withstanding all that has already happened, whatever comes out in the coming weeks in the wake of this latest scandal will totally discredit our Government internationally.

Tech3

Why doesnt someone just create a recession forum and dump all sh**e like this in there

m5ex9oqjawdg2i

Not another one... every day, every single day there are a few new posts about how much crap we are in, how depressing the recession is, bla bla bla...

STOP!!! Seriously, we don't need a continuous stream of piss flooding AH. AH can do without this to be honest...

drunkmonkey

MikeCork2009 wrote: »

(now on my arse unemployed without any chance of getting a job again for a good while imo) gives me the right to speak on what I see unfolding

Mike i left school in the last recession, I got off my arse and took any job that was going, I had to leave the country for a while, I had a hunger for money that could not be satisfied on handouts.....if you want to sit around on your arse just because you can't get a job in your chosen degree, change career, sweep the streets, pull some pints, just do something but for christ sake get up off your arse and help get this country back on it's feet again..

K-9

MikeCork2009 wrote: »

O A degree in Finance and a Masters in Finance/Economics as well as some experience in the investment banking sector

Oops, wrong choice methinks there.

kincsem

You do not want to pay your mortgage because others were bold? Life.

MikeCork2009

Fine so. Be Happy to be shafted. Its opinions like this that led to the situation that we are in, its people like this that will be affected by this and its ultimately ignorance like this that which will lead to it happening again and again, rational participants my eye!!

Making it about jobs or not, degree choices, mortgages etc is not the issue at hand, if I could close this discussion now I would, I had hoped it would have gotten some proper discussion in Economics, ppl out to hide their heads in the sand or make it personal, well I guess they just gotta wait till things catch up with them!

sillysasauge

MikeCork2009 wrote: »

Okay I may be young, I may not have lived through a recession before (well I was around but very young) but the position this country and its financial sector now finds itself in is to me sickening. A degree in Finance and a Masters in Finance/Economics as well as some experience in the investment banking sector (now on my arse unemployed without any chance of getting a job again for a good while imo) gives me the right to speak on what I see unfolding before us. The scandal that is Anglo/IL & P/Nationwide would not and shoud not be tolerated in any other country in the world. That crooks like Sean Fitzpatrick should spurn our own government is an affront to our democracy, that white collar crime go unpunished while thousands of hard working Irish men and women lose their jobs is disgraceful. The service that our banks and building societies provide in facilitating commerce is undeniable and to provide bailout money is necessary yet to allow those who orchestrated our downfall to walkoff with large bonuses or illegal loans is not on. Our banking system is now a joke, our regulatory authority a sham and our government a toothless enforcer....how can this country ever again even argue to attract foreign investment, to call itself a financial hub in Europe (what role now for the IFSC)??? I am both saddened and very angry and how the Irish people can stomach this corruption from its banks while they continue to send us letters looking for loan/mortgage repayments having taken our money (to pay its fat cats) is beyond me.

hehehe u lose

m5ex9oqjawdg2i

You know this thread is going to turn into a public sector V private sector, Workers V the unemployed, People on social welfare are lazy, there are millions of jobs etc etc etc thread. All the threads end up like that. It's making my EYES BLEEEED!!!

Scarinae

It still amazes me that people can criticize countries in Africa for being corrupt, when this sort of sh*t hits the fan. The only difference is that politicians are more brazen about it in African countries

sillysasauge

Can someone break down simply why we are now poor and we were rich before?

My intellect is very low and I have add and rhinitis and other learning problems

drunkmonkey

MikeCork2009 wrote: »

Fine so. Be Happy to be shafted. Its opinions like this that led to the situation that we are in, its people like this that will be affected by this and its ultimately ignorance

your refusing to work because you can't get a job in your chosen career....the only people affected by this will be people like you who want to sit around on there arse rather than accepting the fact that they may have to walk down a different road than planned, I wish I left school and landed straight into a roaring economy but I didn't....get over yourself, go get a job, any job...
sorry if I sound a bit harsh but i'm starting to get a little annoyed with people who think it's there god given right to get 50 grand a year when they've never lifted a shovel in there life......

m5ex9oqjawdg2i

sillysasauge wrote: »

Can someone break down simply why we are now poor and we were rich before?

My intellect is very low and I have add and rhinitis and other learning problems

Mary harney ate all the money...

sillysasauge

Halle Thousands Metal wrote: »

Mary harney ate all the money...

whos Mary harney?

m5ex9oqjawdg2i

drunkmonkey wrote: »

your refusing to work because you can't get a job in your chosen career....the only people affected by this will be people like you who want to sit around on there arse rather than accepting the fact that they may have to walk down a different road than planned, I wish I left school and landed straight into a roaring economy but I didn't....get over yourself, go get a job, any job...
sorry if I sound a bit harsh but i'm starting to get a little annoyed with people who think it's there god given right to get 50 grand a year when they've never lifted a shovel in there life......

I lifted lots of shovels... Not expecting 50K, not even close to that, 20K would be nice Only interview I have been called for lately are for door to door sales and jobs that have dissapeared over night.

What exactly are we supposed to do?

This is why I fking hate these poxy threads. The people in jobs don't have a clue, they don't understand, the unemployed are continuously being bashed, bla bla bla same crap differant thread.

You cannot compare two depressions in two 25 years apart. It's completely stupid.

drunkmonkey

sillysasauge wrote: »

whos Mary harney?

the pregnant one off the TV

Scarinae

drunkmonkey wrote: »

the pregnant one off the TV

Food pregnancy?

sillysasauge

drunkmonkey wrote: »

the pregnant one off the TV

oh yeah, i think i know de one

drunkmonkey

Halle Thousands Metal wrote: »

The people in jobs don't have a clue, they don't understand, the unemployed are continuously being bashed, bla bla bla same crap differant thread.
.

the force is strong in you young one, in fairness to you Xavier I think you'll be ok, you really sound like you want to be doing something, whether it's starting your own business(how's it going?) or out looking for a job.....it's the I might as well sit on my arse brigade i've a problem with....

Nodin

sillysasauge wrote: »

Can someone break down simply why we are now poor and we were rich before?

My intellect is very low and I have add and rhinitis and other learning problems

Essentially, we were never that rich, as we just borrowed a lot of money, that put prices up, which meant you had to borrow more to buy more....eventually the whole thing went tits up, leaving us deeply in debt.

Pal

all these bleeding hearts coming on here, cant get a job, recession, recession, yabba yabba yabba

listen

Your audience here on AH dont give a toss.

We all have good jobs playing on the internet all day

Now GTF and stop annoying us.

Fighting Irish

MikeCork2009 wrote: »

Okay I may be young, I may not have lived through a recession before (well I was around but very young) but the position this country and its financial sector now finds itself in is to me sickening. A degree in Finance and a Masters in Finance/Economics as well as some experience in the investment banking sector (now on my arse unemployed without any chance of getting a job again for a good while imo) gives me the right to speak on what I see unfolding before us. The scandal that is Anglo/IL & P/Nationwide would not and shoud not be tolerated in any other country in the world. That crooks like Sean Fitzpatrick should spurn our own government is an affront to our democracy, that white collar crime go unpunished while thousands of hard working Irish men and women lose their jobs is disgraceful. The service that our banks and building societies provide in facilitating commerce is undeniable and to provide bailout money is necessary yet to allow those who orchestrated our downfall to walkoff with large bonuses or illegal loans is not on. Our banking system is now a joke, our regulatory authority a sham and our government a toothless enforcer....how can this country ever again even argue to attract foreign investment, to call itself a financial hub in Europe (what role now for the IFSC)??? I am both saddened and very angry and how the Irish people can stomach this corruption from its banks while they continue to send us letters looking for loan/mortgage repayments having taken our money (to pay its fat cats) is beyond me.

The banks were bad we all know that, but people have to be responsible for their actions, too many people spent/borrowed way too much money and are now paying the price and i'm happy for them, its the only way they'll learn

kowloon

This is the reason we have a recession:

https://www.youtube.com/watch?v=8sjHKDboL_Q

People should be out doing something productive.

Pal

Fighting Irish wrote: »

The banks were bad we all know that, but people have to be responsible for their actions, too many people spent/borrowed way too much money and are now paying the price and i'm happy for them, its the only way they'll learn

let them eat cake

maggie797

Your audience here on AH dont give a toss.

We all have good jobs playing on the internet all day

Now GTF and stop annoying us.

I am day off today (and playing on the internet) feel really unwell and miserable with sinus pain and this really made me laugh!!!
enteertaining thread thanks