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Thread: Dukes wants a second "bad bank"

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    Politics.ie Member Podolski1.5's Avatar
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    Default Dukes wants a second "bad bank"

    I'm surprised that a thread hasn't been started on this earlier. Alan Dukes, former Fine Gael finance minister and TD and current chairman of Anglo-Irish Bank is quoted in today's Irish Times as having called for a second "bad bank" to deal with distressed loans at the banks that are not moving into NAMA.

    Dukes suggests second 'bad bank' - The Irish Times - Thu, Oct 28, 2010


    Mr. Dukes seems more perturbed with the state of "distressed" loans than the hundreds of thousands of distressed citizens in this country and has on numerous occasions called for a wider range of cuts in public services, the immediate introduction of water charges and cuts in social expenditure.

    Incidentally did we ever find out if Dukes gave up his Dáil and ministerial pensions? He was quite adamant that he would not give these up despite a lot of pressure at the time.
    "The rich always betray the poor"- Henry Joy McCracken

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    We're not exactly short of bad banks, are we?

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    Quote Originally Posted by Podolski1.5 View Post
    I'm surprised that a thread hasn't been started on this earlier. Alan Dukes, former Fine Gael finance minister and TD and current chairman of Anglo-Irish Bank is quoted in today's Irish Times as having called for a second "bad bank" to deal with distressed loans at the banks that are not moving into NAMA.

    Dukes suggests second 'bad bank' - The Irish Times - Thu, Oct 28, 2010


    Mr. Dukes seems more perturbed with the state of "distressed" loans than the hundreds of thousands of distressed citizens in this country and has on numerous occasions called for a wider range of cuts in public services, the immediate introduction of water charges and cuts in social expenditure.

    Incidentally did we ever find out if Dukes gave up his Dáil and ministerial pensions? He was quite adamant that he would not give these up despite a lot of pressure at the time.
    This is one of the worst aspects of when you fail to adequately deal with a major case of fraud and corruption, you send out a message that the actions can be repeated without consequence. Because of how we have bent over for the banksters and bondsters this idea of 'too big to fail' has not been discredited, nor has the idea that any well connected company can in theory have the state cover it's debts.

    It's no wonder he wants a second bad bank when the first one met with so little protest, nor do we mind (apparently) that all our useless politicians are on near-millionaire salaries and pensions.

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    Politics.ie Member Mister_Jinks's Avatar
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    Quote Originally Posted by meriwether View Post
    We're not exactly short of bad banks, are we?
    Very good

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    Alan Dukes in

    NAMA 2: Collaterialised Debt Obliviation

    This time its personal.....
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Politics.ie Member commonman's Avatar
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    will some one tell me what good banks have we .only in ireland

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    Politics.ie Member wombat's Avatar
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    Interesting that when Richard Bruton suggested splitting AIB & BoI into good & bad banks two years ago, Dukes was wheeled out to ridicule the idea as too complex, NAMA would solve the problems. Shortly after, he was persuaded to do his patriotic duty and protect the people's interest by becoming chairman of Anglo. Aren't we lucky to have such wise and patriotic people to protect us.

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    Is there no limit to all this idiocy?

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    Don't they already plan to keep Anglo alive post Nama? Surely that will also be a bad bank as it certain can't be a good one...

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    Quote Originally Posted by Podolski1.5 View Post

    Incidentally did we ever find out if Dukes gave up his Dáil and ministerial pensions? He was quite adamant that he would not give these up despite a lot of pressure at the time.

    Why should he give up his dail and ministerial pensions? he should take a pay cut on these (along with all current TDs, Pensioners, public servants etc) but i dont see why he should have to give them up in total.

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