Ireland, a baNAMA Republic?

This Great Little Nation [a tongue in cheek term coined during the heady days of over-indulgence, or credit splurge, marking the Celtic Tiger, Ireland’s 1995-2007 economic miracle] is almost broke: Europe’s economic basket case. People are hurting big time, and are justifiably peeved that their jobs, 430,000 of them, are being lost at an alarming rate. 

It really is stunning how the short-term greed, mismanagement, and incompetence of the Cabal that is Fianna Fail (the majority government political party, or ‘Party of Corrupt Gougers’), the banks and the builders have ruined the country. And now these gangsters are holding a gun to the head of every taxpayer, or every man, woman and child in Ireland to add an additional €15,000 each, on top of their own personal debt, to bail the banks out of their bad loans to the tune of €54,000,000,000….Billions…

This huge amount of ‘toxic debt’ will be handed over to the new National Asset Management Agency (NAMA), thus, we are told, freeing up the banks to get on with the everyday business of being good bankers, giving out loans to the real businesses that so desperately need them.

Loading the people with an extra €15,000 each to pay for the sins of a few is high-handed, dictatorial and undemocratic. It’s also shamefully generous to the bankers. Why aren’t the people of Ireland out in their thousands on the streets demanding that the fat cat bankers and ineffectual politicians who created the mess in the first place are held accountable? They together with the property tycoons, who built the optical illusion, destroyed this country’s economy. So there is no way they should be allowed to dig us out of the mess, especially when the long-term economic prosperity of Ireland is at stake.

But that is exactly what’s happening: the people, baying like sheep let them get away with it.

And when it comes to Ireland Inc’s future economic well-being, what is the game-plan of the uncompromising, pig-headed gang that runs it?  Cut wages, by sucking more money out of the pockets of its citizens in taxes and levies and leaving its people all considerably less well off so they can compete once again in the world’s export markets.  That’s not an economic stimulus. That’s not going to speed up a national recovery.

There are fairer options to the financial crisis that can be implemented. With the Government now claiming NAMA will bring the taxpayer profits within 10 years, it’s fair to scratch your head and ask the question: If the bad loans are so potentially profitable, what’s the point in having NAMA?

Greed for power. Greed for wealth. Power corrupts rational thought and creates a false sense of control, self-esteem and confidence. Ireland’s Government, with its air of self-righteousness has clearly lost the run of itself.

So did you learn something? Have a comment?

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