Prof. Holohan Bank Reports due out today

Slideshowbob

What time will they go online?

Who thinks Brian Cowen will get a roasting in them? Will it be enough to topple him?

Is there a need for follow up enquiries at tax payers expense? - will they not tell us today what needs to be known?

RichardAnd

Not sure but I'm interested in having a look at it myself. On another note, does anyone find it odd that this business about those women being told their unborn infants were dead happened to hit the papers just before report critical of the government was published.

I'm not attempting to brush such a mistake under the rug as it is a serious issue but if you look at rte's web site, this story is taking the front. I think we have a red herring here.

oppenheimer1

RichardAnd wrote: »

Not sure but I'm interested in having a look at it myself. On another note, does anyone find it odd that this business about those women being told their unborn infants were dead happened to hit the papers just before report critical of the government was published.

I'm not attempting to brush such a mistake under the rug as it is a serious issue but if you look at rte's web site, this story is taking the front. I think we have a red herring here.

Could be. Where did the unborn infants stories come from? Was it a report?

Liam Byrne

RichardAnd wrote: »

Not sure but I'm interested in having a look at it myself. On another note, does anyone find it odd that this business about those women being told their unborn infants were dead happened to hit the papers just before report critical of the government was published.

I'm not attempting to brush such a mistake under the rug as it is a serious issue but if you look at rte's web site, this story is taking the front. I think we have a red herring here.

Definitely seems like it.

I mean, what are the chances that both reports would have "coincidentally" been released the same day, or even the same week ?

It'd be like someone organising a local charity rugby match on the day the Heineken Cup Final was being held in Thomond Park.....anyone with any common sense would have released it a different day*.

*Unless they had a reason

Économiste Monétaire

Gov. Honohan's report is here.

Permabear

This post has been deleted.

Liam Byrne

Slideshowbob wrote: »

Who thinks Brian Cowen will get a roasting in them? Will it be enough to topple him?

Is there a need for follow up enquiries at tax payers expense? - will they not tell us today what needs to be known?

Cowen and his predecessor got a roasting alright, but they don't seem to have realised it based on Cowen's press conference today.

Either that, or they're trying to brazen it out and ignore the facts.....that wouldn't be like FF at all, now would it ?

RichardAnd

Liam Byrne wrote: »

Definitely seems like it.

I mean, what are the chances that both reports would have "coincidentally" been released the same day, or even the same week ?

It'd be like someone organising a local charity rugby match on the day the Heineken Cup Final was being held in Thomond Park.....anyone with any common sense would have released it a different day*.

*Unless they had a reason

My thoughts exactly. This really is a shame on RTE, real journalism isn't about spin doctoring.

jmayo

Shure biffo can go back on ff's favourite media whores late late show where he can be asked tough questions like "are you still drinkin ?" and "do you scratch yer bollox during leaders questions ?".
RTE is now a disgraceful waste of taxpayers funds and hopefully when opposition get in they can give the feckers a right kicking.

gurramok

So Cowen finally offically exposed as most of us here bar the apologists knew it was a mostly homemade problem.

A home made crisis by FF with Ahern & Cowen at the helm.

report wrote:

Ireland's banking crisis was influenced by global factors such as the collapse of Lehman Brothers but was in many ways a “homemade” crisis, an independent report has concluded.

The report, compiled by former International Monetary Fund officials Klaus Regling and Max Watson, concludes that Government policies and bank governance failings seriously exacerbated Ireland’s credit and property boom, and depleted its fiscal and banking buffers when the banking crisis struck in 2008.

gurramok

Latest:

Cowen 'accepts full responsibilty' and 'has regrets'. No sorry though

http://www.rte.ie/news/2010/0609/banks.html

Cowen wrote:

Mr Cowen said that the economic and banking collapse had left the country in a deeply challenging situation and he regretted that.

Fiskar

gurramok wrote: »

Latest:

Cowen 'accepts full responsibilty' and 'has regrets'. No sorry though

http://www.rte.ie/news/2010/0609/banks.html

He will and should do the honerable decent thing an resign, he will always have the question of competence hanging over him.
Would be a bold move by FF before the next election to blitz him out.
Someone has to resign on the Government side over this.

Saadyst

I've only been in Ireland a year, and even I know there is no chance in hell for any of these people to resign. They will hold on by the skin of their teeth to every minute of power. The opposition can't even press them enough to hold a few local elections - how do you imagine anyone in FF will resign?

dan_d

Whatever about Cowen resigning, if he even came out and said " I screwed up, I was being fed information by people who were supposed to know what they were doing because I've no real experience with finance and I acted on that information, plus things were great in our party so I could hardly throw cold water on everything. I went with the flow because I'd lose my position otherwise"....if he even had the B%$&ls to say that, I might have a modicum more respect for him. The dogs on the street knew by about 2006 that something was not right, and what goes up must come down. How on earth can he stand there saying "hindsight is 20/20"..it's true, but common sense is supposed to be something we all possess.
Idiot.

Stab*City

Surley there must be some legislation there to help us get rid of these gangsters.. Sooner rather than later.. I think its time for revolution!!:D

Amhran Nua

The long and the short of it, for anyone who hasn't read the reports, is that it was a vanilla property bubble, like any other property bubble anywhere ever. This only makes the policies of the government then and now even more damning since it was very easy to see what was happening, and should have been equally easy to prevent.

Instead the Fianna Fáíl government deliberately went out of its way to inflame and exaggerate the bubble, making the eventual collapse a lot worse. Whether or not it was done with full knowledge of the consequences is another question, although there is no reason why even a semi competent financial authority should not have seen this coming a long way off. The reason for this ignorance of the consequences might even be traced back to the civil service, those tasked with providing decision makers with the information they need to make the correct choices.

Cowen and the lads may try to bluster and spin this into something positive, but the end result is that it was the equivalent to a man who burned his house down to stay warm.

jmayo

Stab*City wrote: »

Surley there must be some legislation there to help us get rid of these gangsters.. Sooner rather than later.. I think its time for revolution!!:D

I think it actually may come to something close to that.
Things are not really improving, we still need to make savage cuts and tax increases in the coming year.
Also the whole Euro experiment is in dire straights and remember if the bond markets target us like Greece we are in deep trouble.

The best and probably only quick way of getting these gansters out is if everyone just brings the country to a halt.

Call it a velvet revolution of sorts.

That would of course require private sector workers, public sector workers, unemployed, all the sectional interests, opposition politicans, union leaders and business people to actually all agree on one thing which is that ths government contains the ones responsible for getting us into this mess and that we no longer deem them fit to lead us.

Slideshowbob

why not a facebook page for "Protest against Cowen"

Could gain widespread appeal - organise a demo

I'd join in n go to demo but I aint creating it !! :cool:

Welease

I hate to piss on everyone's parade...

But if it was all so obvious to everyone, then it was not obvious to the majority of this country who voted those idiots in last time...
Worst case scenario for FF, a protest vote loses them the majority next election, but they will be back in later.. or best case they get voted back in again as things have improved..

There will be no velvet revolution or whatever.. the electorate in this country don't have the knowledge, willpower or the balls it takes to force any change.. They are content to see people like O'Dea tell lies in public and they will vote them back in with large majorities next time..

Why do people think it will be any different next time?

Liam Byrne

Welease wrote: »

I hate to piss on everyone's parade...

But if it was all so obvious to everyone, then it was not obvious to the majority of this country who voted those idiots in last time...

Valid (if sickening) thought.

I guess that's why I haven't ruled out emigration. Saddens me to contemplate it, and fingers crossed that I won't have to, but it's certainly in the back of my mind if this doomsday scenario occurs (as I outlined in another thread).

Welease

Liam Byrne wrote: »

Valid (if sickening) thought.

I guess that's why I haven't ruled out emigration. Saddens me to contemplate it, and fingers crossed that I won't have to, but it's certainly in the back of my mind if this doomsday scenario occurs (as I outlined in another thread).

Put it this way.. who here honestly believes that Cowan wont get voted in again in Offaly?

The man who argueably has done the most devastating long term damage to this country, will get voted back in because he has brought some jobs to the local area... Thats how the populace of this country use thier votes.

thebman

Welease wrote: »

Put it this way.. who here honestly believes that Cowan wont get voted in again in Offaly?

The man who argueably has done the most devastating long term damage to this country, will get voted back in because he has brought some jobs to the local area... Thats how the populace of this country use thier votes.

He hasn't though. Offaly is one of the worst effected areas in the country for unemployment. Can't do anything about it. He can't make companies locate there and neither can the IDA.

Loads of job loss announcements in Offaly and companies pulling out.