Feelings about bailouts, etc.?

Permabear

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Not me, free market all the way. I might have been convinced by good arguments to back bailing out one and at a push even two banks here.

But never a bank like Anglo. Not in a million years. :mad:

This is the worst hybrid of capitalism/communism.
Capitalism while they made the money during the boom and communism for their losses. Disgusting.
The bill just passed will ruin this country for years. The Greens and Fianna Fail need to be crucified.

The opposition if they are any good should of walked out from the dail today. We need marches. The populace need to wake up and be told the truth and how much this will affect their daily lives over the next decade

Liam Byrne

Fact is that we need banks. So the original bailout / guarantee, while hard to stomach, was essential.

HOWEVER, we were originally told by Fianna Failure that the guarantee would do; that the bailout would NEVER BE REQUIRED.

The biggest issue, however, is the Government's ineptitude and complete failure to put ANY caveat on the aid......any bank in trouble on the basis of the world slowdown is almost beyond their influence.

Yes, there was an issue whereby banks gave loans to developers to build and then gave ordinary punters 100% mortgages to help keep the price high; it was in their [conflict of] interest to ensure that they got the bigger - developers' - loans paid back. But likewise, it was up to people to manage their money and only borrow what they could reasonably expect to pay back.....so part of that issue is the borrowers' own fault too.

BUT any bank who've given their individual directors loans of over 100 million, thereby screwing themselves, should NOT be bailed out UNDER ANY CIRCUMSTANCES. The directors should be forced to pay back the loans and stabilise the bank themselves.

There has been no evidence of anything strictly "illegal", but they wouldn't have hidden the loans if they hadn't known it was dodgy on some level.

And having done that they should be left to wallow in their own **** and should not have ANY of my money to help bail them out while they work away with their 100 million......

gandalf

I am in favour of letting the market sort things out, all I see from Government intervention in propping up the Banks is further doubts about the banks viabilities and now doubts about the countries finances being effected so badly that the IMF might get involved which would be a disaster of epic proportions.

Anglo Irish Bank was the preferred bank of the developers and it is obvious to me that this buyout is to help the Galway Races Tent brigade. As far as I am concerned it should either stand on its own two feet or die.