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Thread: Financial Times editorial

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    Default Financial Times editorial

    FT.com / Comment / Editorial - Ireland attempts to settle its losses

    Dublin has bought itself time on banking policy. It should be used to put in place a resolution regime that can distribute future bank losses faster and more fairly than happened in Anglo’s case.

    Even this would be small consolation for all the pain that has been inflicted on Irish citizens. The economic loss is at last being accounted for. The political irresponsibility that made it possible has yet to face its reckoning.
    The Govt is usually fast to seize upon favourable comment made by the international financial press.

    Do you think they'll grab at this as quickly?

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    Politics.ie Member spidermom's Avatar
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    Somehow I doubt if this will feature on their campaign literature!!
    When a man sits with a pretty girl for an hour, it seems like a minute. But let him sit on a hot stove for a minute and it's longer than any hour. That's relativity.

    ALBERT EINSTEIN

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    Kicking to touch is not the kind of "decisive action" that Lenihan is always going on about.

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    Quote Originally Posted by voodoochile View Post
    FT.com / Comment / Editorial - Ireland attempts to settle its losses



    The Govt is usually fast to seize upon favourable comment made by the international financial press.

    Do you think they'll grab at this as quickly?
    You mean the English press. Why didn't the English have to pay out as much to their banks, the Irish property boom only lasted ten years the English property boom has been going nearly thirty years and still hasn't burst. They are still giving out 100% mortgages in England.

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    Quote Originally Posted by voodoochile View Post
    FT.com / Comment / Editorial - Ireland attempts to settle its losses
    The Govt is usually fast to seize upon favourable comment made by the international financial press.

    Do you think they'll grab at this as quickly?
    It's a very hard-hitting piece. Another extract:
    Dublin’s plan aims to finalise the tab Irish taxpayers will pick up for the wild speculation and cronyism that passed for lending at Anglo.
    and
    Dublin defends the huge expense by saying that anything else would topple the banking system. If that fear is justified, it is partly of the government’s own doing.
    I don't remember the Irish Times being quite so forthcoming over the years.

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    Quote Originally Posted by Horses View Post
    You mean the English press. Why didn't the English have to pay out as much to their banks, the Irish property boom only lasted ten years the English property boom has been going nearly thirty years and still hasn't burst. They are still giving out 100% mortgages in England.
    Last time I looked England was a different country (international) and I'll think you'll find that the FT is read quite a bit further afield than England.

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    Quote Originally Posted by McDave View Post
    I don't remember the Irish Times being quite so forthcoming over the years.
    A pimple on Irish society. It needs a good squeez so it can form a scab and eventually fall off.

    Judging by their bad investments, dwindling advertising and rising pensions liabilities, it won't be long now.

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    Politics.ie Member Boy M5's Avatar
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    Quote Originally Posted by voodoochile View Post
    Last time I looked England was a different country (international) and I'll think you'll find that the FT is read quite a bit further afield than England.
    Spot on - its a World newspaper, generally pretty undoctrinaire with no particular bias.

    Yes its pro market but sensibly so and normally pretty objective. The WSJ is more economically right wing (btw their Irish stringer is Quentin Fotrell) and the ft has none of the anti Irish bias I sadly have seen consistently in the English print media over many years).

    That said, Private Eye pointed out a few weeks ago, that the FT's new chief leader writer is more right wing I think from the Telegraph.

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    Politics.ie Member Boy M5's Avatar
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    Quote Originally Posted by McDave View Post
    It's a very hard-hitting piece. Another extract:

    and


    I don't remember the Irish Times being quite so forthcoming over the years.

    Aren't those quotes you highlighted pretty factual? Though in common with most bubbles everyone believed in the nonsense including the opposition politicians & most hacks (look at the value destoyed by Irish Times purchasing a property website, it wasn't DAFT but the decision was). Wasn't it systematic failure & delusion?

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    you guys seem to dwell on comment and ignore the real experts..

    found this from an ex-member...

    http://www.politics.ie/economy/36572...ml#post1253025


    thats just shy of 2 years ago

    why the shock today? It was always going to be...

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