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Thread: SFA/IBEC next up for a Digout?

  1. #1
    Politics.ie Member powderfinger's Avatar
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    Default SFA/IBEC next up for a Digout?

    IBEC subsidiary the SFA is lobbying Government to underwrite business lending.They are seeking a Loan Guarantee Scheme,where the taxpayer will underwrite lending to business.
    Where does this social partner believe that funds exist to generically guarantee lending to business?
    Who would pick up the tab for rising bad debt levels that this type of lending would guarantee?
    Surely with the number of corporate welfare schemes already established by this Government ,builder bailouts,bank guarantees and pig processor payouts, this proposal is tailor made for consignment to the 'not-a-flucking-chance-mate' response from the beleaguered Messrs. Cowen and Lenihan?

    SFA/IBEC lobbyist Ms. Patricia Callan appeared with their request initially at the Joint Oireachtas Committee on Finance and the Public Service on the 16th Dec.2008.
    http://www.hgvireland.com/news08a/hgv596.html
    Last edited by powderfinger; 7th January 2009 at 05:08 PM. Reason: link

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    There's a good chunk of 1.5 billion there for all sorts of lending if FF wouldn't thrown it at its buddies in Anglo Irish. I'm not saying it need necessarily be used for SFA lending, but roads/bridges/public works etc is surely a better bet than anglo. Nearly everything else is unfortunately.

  3. #3
    Politics.ie Member powderfinger's Avatar
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    Quote Originally Posted by markeys View Post
    There's a good chunk of 1.5 billion there for all sorts of lending if FF wouldn't thrown it at its buddies in Anglo Irish. I'm not saying it need necessarily be used for SFA lending, but roads/bridges/public works etc is surely a better bet than anglo. Nearly everything else is unfortunately.
    Paddy Powers offer at 250/1 for Podge and Rodge to replace Late Late Show host P.Kenny is probably a better bet than Anglo,markeys.

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    Politics.ie Member Big Bobo's Avatar
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    This is nothing more than a proposed bailout for the petit bourgeoise and the rich. Underwritten by the workers of course.

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    There'll be plenty of jobs for the boys out of that little scheme.

    This is effectively sub-prime lending for businesses.

    Reminds me of the "Home Choice Loans" scam.

    Shame on these fat cats.

  6. #6
    Politics.ie Member powderfinger's Avatar
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    SFA/IBEC spokesperson Ms.Callan is at it again this morning on Pat Kenny's radio programme.
    Their latest attempt for public money is a brazen one indeed.
    This time it is dressed up as Job Maintenance Grants and the amount that this wing of the Employers Trade Union is seeking for this little scheme is a nice round number.A billion euro.
    Again ,delusion clouds the redundant thinking of this self-serving pressure group.

  7. #7
    Politics.ie Member Pauli's Avatar
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    IBEC can ******************** off. No organisation, with the possible exception of the Progressive Democrats (the political wing of IBEC), has done more to undermine the rights, income and welfare of workers in the Republic of Ireland than this shower of jammy bastards.

    Let them burn.
    Fianna Fail - The Loss of Sovereignty Party.

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    Politics.ie Member Digout's Avatar
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    There is no way I'd go near that lot...

  9. #9
    Politics.ie Member powderfinger's Avatar
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    They are still touting/lobbying for corporate welfare.Now they are re-branding their begging bowl.
    Sharing the risk is the way forward say the SFA/IBEC.

    ]http://www.accountingnet.ie/business...ars_Report.php

    The Small Firms Association believes that the Report demonstrates that there is now clearly a market failure in the provision of SME lending, as the banks risk assessment criteria means that they will not be changing their current pattern of lending decisions and thus it is essential that the government intervenes directly to share this risk with the banks and thus move their risk-assessment decision. “Such credit guarantee schemes are already widely in most OECD countries”, commented Callan.

    Last edited by powderfinger; 14th July 2009 at 07:01 PM.

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    Politics.ie Member FutureTaoiseach's Avatar
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    Support for Lisbon will obviously be the quid-pro-quo.

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