Anglo and the FF legacy

Laminations

While you may be distracted by the FG leadership debacle don't forget who the majority of people in this country really want to see the back of- Cowen and FF. We are truly paying for what should be private debt and losses. I can't see how NAMA will break even with Anglo sucking in money with no return. I heard today that their chief valuator is the same guy that valued the glass bottle site at 400million euro! (Jim McAllister?), that guy shouldn't have a job after making such an error, let alone a state paid job seeing as his error cost the state 330million.

So aside from bad FF policy decisions over the Celtic tiger (highlighted in the banking reports) FF gauranteed Anglo (not under inquiry)

See what you think
http://thestory.ie/2010/06/17/in-case-you-missed-it/

it's great to see Alan Dukes showing the taxpayer the same contempt as FF shows us. I said months ago that he went down in my estimation becoming the government mouthpiece on the board. I also doubted the public interest part of his public interest directorship. How dare he refuse to answer questions? Nit even citing corporate sensitivity, just merely saying he is not answering. Liam Byrne on previous threads (and I'm sure others) have doubted Dukes sincerity and input

So while FG may have shot themselves in the foot, do not for one second forget that FF shot the Celtic tiger dead

Permabear

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DeVore

donegalfella wrote: »

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Surely that would make him a capitalist. I think you and I have very different ideas what a libertarian is...and I consider myself one.

DeV.

Laminations

donegalfella wrote: »

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No DeV was closer with capitalist, I remain a social capitalist
http://en.m.wikipedia.org/wiki/Social_capitalism?wasRedirected=true
and I'm anti this government and any other that would be similarly incompetent and wasteful, rather than being anti government as a whole.

Where is the media coverage of Dukes stubborness? There remains a total lack of transparency in Anglo and NAMA and in the FF 'plan' as a whole

Permabear

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Liam Byrne

donegalfella wrote: »

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I disagree.

Ideally, no "social management" would be required, because people would be balanced and ethical enough to find some balance between their own needs and the general greater good.

But without that, some mechanism is required to stop rampant capitalism from riding roughshod over people.

It's obvious that FF have no interest in doing this, however, and in addition they bail out those who screw up their capitalism, making them the worst of both worlds.

DeVore

They should have let Anglo crash, it was NOT a systemic bank and the market would have valued its assets and purchased them, same as Barings (which ironically was a lot more central in the economy of UK then Anglo was here).

I think that where a situation only affects one person or consenting people they should be allowed to do as they please. Thats a lot rarer a situation then most people think.

As far as governmental control goes, if there is only one of something (like the roads or the internet infrastructure) then the government should manage it. If there are many then the market should be allowed to take charge and do so completely, no bail outs.
If anything grows so large that it may become "to big to fail" the government should break it up forcibly like Bell Labs.

</2c>

DeV.