Banking inquiry shock findings

[W200]

Shock horror who wudda thought! A combination of bankers, developers, government and weak supervision caused the economic crash.

And there was I thinking it was the “Nurse and Guard “who “went mad “buying up all them houses in Ballinamore.

Well its news to me! Ya could knock me over with a feather.

 

[Delboy]

Copy of the Banking report for anyone who's interested

(with acknowledgement to Temene over on the Pin)

 

[Leo]

Given the constitutional limitations in what they could determine, was anyone really expecting much more?

 

[Delboy]

The People voted and the People have been served!

 

[Firefly]

I presume we all remember those "Burn the bondholders" raves & rants. Well, it looks like doing that could have saved us 9bn...a nice bit of twine to be sure, to be sure.

Various sources have put the net cost of bailing out our banks at 45bn. This means if we burnt those bleedin bondholders, it would have only cost us 36bn.

Another way to look at this is that instead of the bank bailout representing 24.5% of our national debt, it should only have represented 20% of our national debt.

Does anyone think we will get an enquiry into where the other 75 - 80 % of our national debt came from? I mean, it's not like we don't have to pay it or anything (with interest)....

http://www.independent.ie/business/...b-chief-trichet-bullied-ireland-34403444.html

National Debt 183bn as per http://www.financedublin.com/debtclock.php

 

[Delboy]

Did the rest of our debt not come from running the country from 2009 to today...we had huge deficits and had to borrow to keep the show on the road

 

[Gerry Canning]

Dear Delboy,

To us Country people, ie not from Dublin ,it was yousins with your large motor vehicles and larger trophy houses that demented and bullied poor Anglo and AIB and those pesky UK Banks into driving 4 wheel drive barrow loads of German Dosh @ yousins and sure why wouldn,t you take it , wouldn,t Joe Soap pay it back for yousins.
Worse still didn,t yousin eijits believe you had found the holy grail of money making and succeeded in bluffing us country people.

Now after 6 million they have the cheek to blame Bankers, Regulators and developers.How unfair can you get.

Dear Firefly,
Stop being sensible !

Dear Delboy ,
What deficits ?from 2009 (tongue in cheek )

Have a nice day.