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Is this right?

FoxT · 2010-12-06 01:28:39

- Globally, regulation of the financial sector has been ineffective in ensuring that financial institutions had adequate risk management in place. - This has also been true in the EU, where Irish banks were able to borrow enormous amounts of money to inflate the property bubble. - The Irish Govt is now borrowing money to…

06-12-2010 1:28am

#1

FoxT

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- Globally, regulation of the financial sector has been ineffective in ensuring that financial institutions had adequate risk management in place.

- This has also been true in the EU, where Irish banks were able to borrow enormous amounts of money to inflate the property bubble.

- The Irish Govt is now borrowing money to ensure the banks can pay off the bondholders.

- Why are the EU/IMF insisting that Ireland does this? Were not the bond purchasers as irresponsible as the bond issuers?

- If we did not pay back the bondholders & this led to other banks in the EU being undercapitalised, then why would their national govts not step in & rescue those banks?

I am starting to get a feeling here that the Irish are being forced to borrow in order to pay for the mistakes of others....Is that a rational position?

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