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Thread: Is Noonan really powerless or just disinterested?

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    Politics.ie Member Disillusioned democrat's Avatar
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    Default Is Noonan really powerless or just disinterested?

    Bizarre statement by Noonan....seemingly government "powerless" to influence the banks it has bailed out with tax payers money. They have shovelled billions of tax payers money into a pit and yet have no "power" over the banks. The advice seems to be that we should just grin and bear it as the banks screw us over time and again.

    Noonan: 'I'm powerless to tackle bankers' pay & perks' - National News - Independent.ie

    The government have an overwhelming majority in the Dail and a majority stake in the banks....but have no power?

    That doesn't add up. It seems the only power they do have is to pretend things will just get better and in the meantime clock up €3m pension entitlements.
    Last edited by Disillusioned democrat; 4th November 2012 at 06:33 PM.
    The more things change....

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    Politics.ie Member hemlock's Avatar
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    he couldn't be arsed
    Consistency is the last refuge of the unimaginative.
    Oscar Wilde

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    Politics.ie Member wombat's Avatar
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    Quote Originally Posted by Disillusioned democrat View Post

    The government have an overwhelming majority in the Dail and a majority stake in the banks....but have no power?
    Yes Minister, Noonan is a complete creature of the permanent govt.
    Beer is proof that God loves us - Benjamin Franklin

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    Politics.ie Member Analyzer's Avatar
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    He is useless.

    Is that the word that you were looking for ?
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member tigerben's Avatar
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    If he was on the opposition bench and heard this coming from FF he wouldnt believe it. FG/Labour were going to put manners on those Bankers that brought Ireland to its knees. I just didn't know it was the political arrogant style of government manners they meant.

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    I am a public servant and I thought I had a contract with my employer which entitled me to a certain rate of pay. However my employer tore it up and unilaterally cut my pay on the grounds of inability to pay.

    Surely employees of all the majority state owned banks (ie all Irish banks headquartered banks except BoI) should be treated the same? None of them would be in jobs without taxpayer support. Why are they treated any differently from any other public servants?

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    Politics.ie Member sic transit's Avatar
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    Defined pensions can only be nailed via taxation. The bank could claim to have a reasonable argument in that any bankers they might want to employ will not entertain the salaries we'd love them to have. Noonan could possibly consider addressing it but it would be more likely to be a pyrrhic victory of gains being swallowed up in legal fees.
    TBH this is another rile the peasants story that the Sindo seems overfond of.
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Politics.ie Member Disillusioned democrat's Avatar
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    Quote Originally Posted by mocame View Post
    I am a public servant and I thought I had a contract with my employer which entitled me to a certain rate of pay. However my employer tore it up and unilaterally cut my pay on the grounds of inability to pay.

    Surely employees of all the majority state owned banks (ie all Irish banks headquartered banks except BoI) should be treated the same? None of them would be in jobs without taxpayer support. Why are they treated any differently from any other public servants?
    Exactly....I imagine most of us, private and public sector, had a pay cut imposed. I certainly did, AND it reduced the value of my DB pension from that employer because it was based on final salary.

    We're told time and again this is a crisis, but if you look at the government's response when it comes to the banks, to bankers and to senior public servants you'd struggle to understand that there was any minor problem....not to mention full blown crisis.

    I was delighted FF got the kicking they deserved nearly 2 years ago, and genuinely assumed FG would take its mandate for reform (and it has to be said, revenge) seriously, but they have been a huge disappointment.
    The more things change....

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    Fairly bizarre from Noonan alright. Sounds defeatist to me. He is the man supposedly to set the rules...yet he comes out with this? Taxing the crap out of them not an option no?

    And I agree, if FF had come out with this FG would have gone ballistic..now they're just saying nothing we can do?

    Same ol same ol..

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    Politics.ie Member Disillusioned democrat's Avatar
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    Quote Originally Posted by sic transit View Post
    Defined pensions can only be nailed via taxation. The bank could claim to have a reasonable argument in that any bankers they might want to employ will not entertain the salaries we'd love them to have. Noonan could possibly consider addressing it but it would be more likely to be a pyrrhic victory of gains being swallowed up in legal fees.
    TBH this is another rile the peasants story that the Sindo seems overfond of.
    I disagree....we're told there's a crisis and it's an economic war, but the only casualties are the tax payers. The banks were bailed out and would have collapsed without tax payers money...the peasants of which you speak.....if they had failed then there would be no money for pensions and no jobs for the boys, so it's not unreasonable to expect a little humility and pain to be shared. In terms of the law we have an economic emergency on our hands and a government with an overwhelming majority and a population that wants fairness....I don't think it'd be too hard to get creative....how about a "bailout levy" on all payments to any bankers, current or retired, who approved the kind of reckless loans that resulted in the banks needing to be bailed out in the first place....say 90%?
    Last edited by Disillusioned democrat; 4th November 2012 at 07:25 PM.
    The more things change....

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