Jim Einstein Power

Lambretta

I See Jim Power is now presenting at the Institute of Bankers CPD’s and indeed on the Irish times ‘Economics and you’ course.

In April April 15th, 2010 at 9:34 am Jim Power stated:

’There are many things in my life that i regret. Spending 9 years with Bank of Ireland is one of them, but appearing on RTE’s Prime Time with Morgan Kelly early in 2007 is top of the pile. Despite my deep scepticism about Fianna Fail’s stewardship of the economy since 1997, I went on and argued that Morgan Kelly’s views on the housing market and the banking system were over the top. I was totally wrong and he was totally right. I haven’t met Morgan since, but when I do I will offer him my sincerest apologies for doubting his prescience. I now realise that I was totally duped by what the regulator and the banks themselves were telling us about the health of the banking system. I had no idea that the banks could possibly engage in the quality of lending that they did or indeed that they could possibly get away with the quality of guidance that they were providing up until very recently. I also realise that i need to educate myself on the workings of a bank balance sheet and the credit cycle’


I would be very curious to see what great strides Jim has made in his awareness. I also think it is a public humiliation that this man who also propagated Friends first property funds is now lecturing Bankers and students.

Are we that desperate for Economics lecturers??
The Bankers institute need to account for their choice here.

HellFireClub

https://www.youtube.com/watch?v=Gd6ZwqLePC0

HellFireClub

Sand

Who would you rather does the teaching?

A man who made serious errors, admits and accepts them and has learnt from them?

Or a man who has never made a mistake? Or more correctly, has never admitted to making a mistake? And so a man who has never learnt anything? Plenty of bankers and economists out there who will tell you there was nothing wrong with Irish banks, that "it wuz Lehmans wut dun it", or "shure no one could have seen it coming". Maybe they should have appointed one of them.

I know who Id rather teaches the next generation.

HellFireClub

Sand wrote: »

Who would you rather does the teaching?

A man who made serious errors, admits and accepts them and has learnt from them?

Or a man who has never made a mistake? Or more correctly, has never admitted to making a mistake? And so a man who has never learnt anything? Plenty of bankers and economists out there who will tell you there was nothing wrong with Irish banks, that "it wuz Lehmans wut dun it", or "shure no one could have seen it coming". Maybe they should have appointed one of them.

I know who Id rather teaches the next generation.

I'd rather be led or tutored by someone who can study the facts and can subsequently draw a reasonable conclusion, than by someone who is completely caught up within a web of hype that has infested the lucrative industry that is paying his extremely high salary.

I think it was Upton Sinclair who once famously said: 'It is difficult to get a man to understand something when his salary depends on his not understanding it.'

Sand

I'd rather be led or tutored by someone who can study the facts and can subsequently draw a reasonable conclusion, than by someone who is completely caught up within a web of hype that has infested the lucrative industry that is paying his extremely high salary.

I think youd want to look more in Jim Powers record in a little more detail then. He was pushed out of his earlier position in Ulster Bank after offending the great powers of Irish life by telling a House of Lords committee that Ireland wouldnt be able to manage its finances inside the Euro (true) and that social partnership had simply become a vehicle for the trade union agenda (also true). Fianna Fail were on the phone and Mr. Power got pushed.

I dont recall you or anyone else taking to the streets to defend Power then. Where were you when that he was getting hammered for speaking the truth people didnt want to hear?

Power learnt his lesson - In Ireland, you go with the flow. You dont offend the group think.

I think vastly more of people who can admit a mistake and move on. Jim Power has done that. His apology is a great credit to him - look at Bertie "Shure no one told me anything was wrong" Ahern.

Now you and others can harp on and on and on and on and on and on and on and on and on about the errors Jim Power made. Great. Mr Power has acknowledged them. Youre beating a dead horse. I've vastly more respect for people who honestly admit to a mistake than I have for people who refuse to recognise that the mistake has been acknowledged.

Save your bile and hatred for the people who dont have the courage to make an honest acknowledgement and apology.

Voltex

The great thing about economics is its cyclical nature. Basically everyone will be right at some stage!

HellFireClub

Sand wrote: »

I think youd want to look more in Jim Powers record in a little more detail then. He was pushed out of his earlier position in Ulster Bank after offending the great powers of Irish life by telling a House of Lords committee that Ireland wouldnt be able to manage its finances inside the Euro (true) and that social partnership had simply become a vehicle for the trade union agenda (also true). Fianna Fail were on the phone and Mr. Power got pushed.

I dont recall you or anyone else taking to the streets to defend Power then. Where were you when that he was getting hammered for speaking the truth people didnt want to hear?

Power learnt his lesson - In Ireland, you go with the flow. You dont offend the group think.

I think vastly more of people who can admit a mistake and move on. Jim Power has done that. His apology is a great credit to him - look at Bertie "Shure no one told me anything was wrong" Ahern.

Now you and others can harp on and on and on and on and on and on and on and on and on about the errors Jim Power made. Great. Mr Power has acknowledged them. Youre beating a dead horse. I've vastly more respect for people who honestly admit to a mistake than I have for people who refuse to recognise that the mistake has been acknowledged.

Save your bile and hatred for the people who dont have the courage to make an honest acknowledgement and apology.

Injustice, no matter how profound, still should not cause you to change your opinion or to turn into an institutional "yes man".

We all suffer injustices at some stage in life, we've all been fired at some stage and had bad things happen to us.