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

[Abaddon]

I'm just flabbergasted! Niall Collins blamed the decision by the previous government to give a blanket guarantee to the banks on advice from the Department of Finance! He implied that the quality of advice from civil servants and the state regulators was part and parcel to Cowans decision.

I'm shocked that with the mountain of evidence we have now that FF ignored the slew of warnings it was given regarding their lunatic economic policies, Niall Collins would make such a blantantly false statement.

Collins gave Kevin Cardiff's response to the Public Accounts Committee, this week, regarding the 3.6 billion error as an example of the deficiencies in advice.

I'll post a link to the show once it's up on the RTE player.

[RobertW]

There was no one from finance (except Cardiff I think) on the night of the guarantee decision . It was Cowen, Lenihan and the bankers.

It was a stupid decision borne out of a state of panic.

We're going to get alot of this from FF as time passes as the shysters never take responsibility for anything that does down de partieeee

[Tomas Mor]

Collins with his bob haircut is as big a gombeen as Gerry " dont bust the party" and Michael who was badly found out in tax matters and appeared in court. Collins are just another clan likes the Pee and Beverley Flynn outfit.




This is Michael leaving Limerick Circuit Criminal Court.

[Mr. Bumble]

One should always get one's retaliation in early. Ditto revisionism.

[DownTheyGo]

They are seriously struggling now to pitch such a low ball cheap shot.

[spidermom]

Indeed!!..sure haven't we the "EXPOSE" tomorrow night!
Thank F**K I'm out...cannot bear to hear about the incompetence again..
Will however glean the opinions of my P.ie fellow travellers..and may watch on playback...with plenty of anti-emetics on board first!!.....

One should always get one's retaliation in early. Ditto revisionism.

[RobertW]

One should always get one's retaliation in early. Ditto revisionism.

A case of the losers writing the history?

[goosebump]

How many times do you loons have to be told that the Bank Guarantee is a complete and utter irrelevance?

In Sep 2008, Irish banks could no longer borrow money from other banks. The only place the could get money was the ECB. The only way the ECB would allow that money to flow to the Irish banking system was if the Irish State prevented the system from collapsing.

The events of the last week, in which an unguaranteed bond was repaid, should be proof positive that this is the actual dynamic driving Irish banking policy, and the the Bank Guarantee was merely an official seal, and not a prime mover of policy in itself.

Seriously, is it really that hard to understand?

[flavirostris]

Collins with his bob haircut is as big a gombeen as Gerry " dont bust the party" and Michael who was badly found out in tax matters and appeared in court. Collins are just another clan likes the Pee and Beverley Flynn outfit.




This is Michael leaving Limerick Circuit Criminal Court.

It seems the denizens of Limerick West will vote for just about any gobsheen as long as they're called "Collins"

[firefly123]

Indeed!!..sure haven't we the "EXPOSE" tomorrow night!
Thank F**K I'm out...cannot bear to hear about the incompetence again..
Will however glean the opinions of my P.ie fellow travellers..and may watch on playback...with plenty of anti-emetics on board first!!.....

Might load up on the cyclizene myself. The big boys in DoF made us do it. I mean we are only the fupping government.