One of the immutable laws of the Universe is that “For every action, there is a reaction.”
Today, if further proof were needed, we witness again the folly of the Governments plan to saddle the tax-payer with the toxic liabilities of the banks and developers through the NAMA vehicle.
Bank shares have been rising steadily over the last few weeks and jumped by up to 10% today.
This article shows that post-NAMA, others value our banks as being cheap.
However, this is predicated on NAMA taking the toxic liabilities off the bank balance sheets at more than value...and dumping them on us!
When will this lot wake up?
Cowen is asleep and unable or unwilling to deal with the crisis in the country’s finances.
He seems to be in thrall to the Union lobby.
Lenihan is a barrister, yet is planning to construct the largest property investment company in the world...leveraging the entire country against the debt!
Coughlan...well the less said the better.
Unfortunately, the alternatives are asleep as well.
Instead of forsaking their 2 month holiday and asking for a recall of the Dail, Kenny and Gilmore prefer to “rest for the struggle ahead.”
Well here’s some news boys, the struggle has been going on for the rest of us since early 2008!
As a committed member of a democracy, I am concerned that the lack of leadership from anybody other than the bearded Union leaders will drive us towards social anarchy.
Perhaps we do need a benign dictator to get us through the next few years.
Without this, we may end up with a not-too benign version!