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2010 Morgan Kelly Article- Ireland is finished

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    #302
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    CatFromHue wrote: »
    Hotblack Desiato wrote: »
    Which is why I said the developers' bank should have been let go - instead FF decided unilaterally (before EU or ECB got involved) that us taxpayers would pay out on the gambling debts of shysters.

    The party that did this looks likely to be the most popular in the next election.

    Just to play Devil's Advocate but did they know just how badly exposed the developer banks were at the time? All banks were exposed to some degree but i'm not sure how much they knew exactly they knew Anglo and Irish Nationwide were at the time, possibly because Anglo and IN had no idea themselves.
    Everyone with a brain could see the banks were crashing for a full 18 months before sept 08 when the aib and bofi share price went from €20 to cents.

    The crash didn't happen in one month but fianna fail faithful would have you believe it was all toasty only for Lehman's going wallop.

    Those were symptoms but the cause had been sitting in plain view all over the country with unsold estates.


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    #303
    NIMAN
    Registered Users Posts: 33,150 ✭✭✭✭NIMAN


    I don't buy this line that we all paid for the bailout.

    Ok, maybe everyone paid extra indirect taxes, but some paid massive multiples of tax compared to others. To claim those on the dole were hit just as hard as others is nonsense. And I have a wage slip to prove it.


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    #304
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    NIMAN wrote: »
    I don't buy this line that we all paid for the bailout.

    Ok, maybe everyone paid extra indirect taxes, but some paid massive multiples of tax compared to others. To claim those on the dole were hit just as hard as others is nonsense. And I have a wage slip to prove it.
    The squeezed middle.
    Just about anyone who earned between 2 and 5 times the minimum wage was really screwed, those who didn't earn suffered a small loss in relative terms. While those in the higher income brackets most probably didn't feel the pain at all.


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    #305
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    NIMAN wrote: »
    I don't buy this line that we all paid for the bailout.

    Ok, maybe everyone paid extra indirect taxes, but some paid massive multiples of tax compared to others. To claim those on the dole were hit just as hard as others is nonsense. And I have a wage slip to prove it.
    The unemployed paid with diminished prospects, especially when they been cheerleaded into huge debt by the government and vested interests to buy homes for their families where there turned out to be no other employment than speculative property.

    You don't get back those frustrating years, once they're spent they are gone.


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