TWIP - 6/11/11 - FF TD Blames Bank Guarantee on Dept. of Finance!

[The Saltees Eagle]

And yet international ratings agencies, the money markets, the IMF, the stock market, and the ECB were seemingly unconcerned about Irish banks borrowing vast amounts of money to lend into a housing bubble until the bubble actually burst.

Likewise the Irish opposition parties, who all had plans for more tax cuts and increased public spending on foot of the revenues generated by the bubble.

FF were in government and they have to take full responsibility for their policies and mistakes, but it is disingenuous to pretend that virtually everyone was not singing from the same hymn sheet before the crash, not only in Ireland and not only concerning Irish banks, but worldwide.

Complete rubbish. The IMF were warning the DoF at least of the property and credit related bubble in the Irish economy in their quarterly updates from my own certain knowledge back in 2006 and I am told for a number of years before that.

Charlie McCreevy's 'Performance Review Board' meant that senior SG's and their deputies across all government departments were accepting bonuses for toe-ing the FF line that those who doubted the economic boom should 'commit suicide' (Bertie Ahern).

Not only were FF central to the creation and maintenance of the bubble they were architects of it and follow whatever strings you like they all lead back to Fianna Fail.

[Odyessus]

Complete rubbish. The IMF were warning the DoF at least of the property and credit related bubble in the Irish economy in their quarterly updates from my own certain knowledge back in 2006 and I am told for a number of years before that.

Charlie McCreevy's 'Performance Review Board' meant that senior SG's and their deputies across all government departments were accepting bonuses for toe-ing the FF line that those who doubted the economic boom should 'commit suicide' (Bertie Ahern).

Not only were FF central to the creation and maintenance of the bubble they were architects of it and follow whatever strings you like they all lead back to Fianna Fail.

Routine stuff. It didn't bother the credit ratings agencies, nor the stock market, nor did it bother the money markets who were shovelling as much money as the Irish (and other) banks wanted into them.

[krusty]

Who have the "innocent" FF members blamed so far?

Cowen
Lenihan
David McWilliams
DoF

Anyone else?

Lehman Brothers , The Global Recession

[The Saltees Eagle]

Routine stuff. It didn't bother the credit ratings agencies, nor the stock market, nor did it bother the money markets who were shovelling as much money as the Irish banks wanted into them.

All of whom were operating on a fraudulent basis. 'A big boy told me and ran away' is not a sound tribute to a government. The whole idea of government and economic policy is to provide a stable environment for business and the national economy to grow and not to light fireworks under a petrol container and hope it all works out.

FF got caught because they are 'percentage' gombeens and the drove the bubble on because their thinking is entirely focused on their cut and nothing else.