Nicola Curry
WE did not cause the current economic crisis WE should not have to pay for it.
Fianna Fail/Green policies have bankrupted this country. There has been a lot of rhetoric about everyone doing their bit to help Ireland out of the economic mess and how WE are all in this together. But the facts reveal that it is the Irish people who are paying the debts of greedy bankers and speculators while they carry on regardless.
The FF government established Anglo Irish as a corporate bank that lent exclusively to developers and financial speculators. Unchecked by the current government they facilitated unsecured loans to developers and speculators without sufficient banking reserves. Meanwhile Sean Quinn at one stage one of the richest men in the world was simultaneously buying up shares in Anglo and gambling on its performance on the stock market in order to enrich himself even further.
When the bubble burst the bank turned to their friends in government.
Our elected representative response to the Anglo’s crisis has been to implement policies that effectively transferred the bankers and developers speculation debts to the people of Ireland.
The people of Ireland are being forced against their will and without any democratic consultation to pay Anglo Irish bank’s debts to its bond holders who between them have assets that are conservatively estimated at 207 trillion Euros!!
‘The people of Ireland are paying to, and protecting the wealth and power of, people who have 100 times more wealth!’ David Malone, author of The Debt Generation
The economic and political elite responsible for the crisis have not taken their share of the pain. The government's golden circle of property developers and bankers have yet to be brought to stand before a court and answer for the financial treason they have committed against our country.
The recent Primetime investigation into the top developers whose loans have gone in NAMA revealed how the Irish tax payer is funding the opulent lifestyles of supposedly debt stricken developers; how they have legally transferred extraordinary assets to their wives and how the Irish tax payer is paying them vast sums of money in the form of rent!!
Despite the fact that Treasury Holdings owes 1.4bn it continues to make a profit internationally and receives 50 million a year in rent from the state on properties it owns including the NAMA headquarters!
Meanwhile ordinary workers struggle to meet bills, social welfare recipients find themselves further below the poverty line, and pensioners go to sleep in fear.
The recent Primetime investigation into the top developers whose loans have gone in NAMA revealed how the Irish tax payer is funding the opulent lifestyles of supposedly debt stricken developers; how they have legally transferred extraordinary assets to their wives and how the Irish tax payer is paying them vast sums of money in the form of rent!!
Despite the fact that Treasury Holdings owes 1.4bn it continues to make a profit internationally and receives 50 million a year in rent from the state on properties it owns including the NAMA headquarters!
Meanwhile ordinary workers struggle to meet bills, social welfare recipients find themselves further below the poverty line, and pensioners go to sleep in fear.
