Fergus Finlay in the Examiner 11th August 2009 "I'm just an ordinary Joe willing to give everything to the poor bankers".

This is well worth reading.

From the article ... "Anyway, can we get back to your troubles? I know you’ve all these bad debts on your books now and they’re getting in the way of a decent operation. I was wondering what can I do to help at all? Ah, no come on. I want to help. I’ll tell you what — I owe you this much because we need the banks, after all. I’ll take on some of the debt. I’m sure I’ll be able to get something back for all that development land.

How much? Well, how much debt have you got? Oh, Jaysus. That’s a bit more than I thought.

If I got stuck with all that debt it will take me the rest of my life to pay it off — and the kids, and probably their kids too. But still. I feel I should do something. So it’s a deal. I’ll take responsibility for your debt.

Now look, to be fair, you’re going to have to take a bit of a hit too. But I think we can work something out.

What have I in mind? Well, since the collapse of the property market, everyone reckons that the best you’ll be able to do is get back about 30% of what you lent out in the first place.

I know, I know, you can’t afford that. And it wouldn’t be right. It would leave you in a really weak position. So I’ll tell you what ... I’ll give you €70 for every €100 of debt. If I can’t get that back, that’s my problem.

Now, now, now. Don’t go crying on me. There’s no need to feel guilty, no need to say thank you. Like I said at the start, all I want to do is help.

I think we all have to pitch in and do our bit — and I’m sure when I explain to the wife and the kids that it’s in the national interest that we should all take responsibility for your debt, they’ll understand.

Even though, when I look at the sums, it looks a bit as if the kids are going to have to leave school early — I’m not going to be able to afford their education as well as handling all this.

Still, the national interest, eh? What do I want in return? Sure, nothing at all. I just want you to get back to the good old days, when money was no object, when you could look at a deal and not have to worry about any risk involved. Look, I realise it could cost me everything if I have to take on responsibility for your debts. But just let me worry about that, all right?

No, you’re right, of course. I probably could demand total control of your operation in return for taking responsibility for paying off all your debts. But that would be mean, and sure, you’d be left with nothing then.

I’M NOT one of those bloody socialists who wants to nationalise everything. Sure isn’t it enough that we decide to nationalise all the bad debts — why would we want the assets too?

I’m confident that if we do it this way, one of us at least will be earning a big fat bonus in a year or two.

And sure, anyway, what would I do with all the assets of a bank? Sure I’ve no experience in banking. I’m just an ordinary Joe Soap.

The last few years have been good to me, and even if everything went wrong just because of a few lousy property deals and a few misjudged tax breaks, sure wasn’t it great while it lasted?

And after all, things were rough for most of my generation and the generation before that until the Celtic Tiger came along. At least we had a few years of the s********************y cars and the posh holidays, didn’t we?"

Finlay is right ... this is exactly what is happening.

And, sadly, this is EXACTLY the way we are acting.