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Counter-Strike to Public Sector Demonstration

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    #92
    ParkRunner
    Registered Users Posts: 3,032 ✭✭✭ParkRunner




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    #93
    Harolds+
    Registered Users Posts: 186 ✭✭Harolds+


    ixoy wrote: »

    Journalists?! And savers - you want people who saved their money to be punished?!


    To be honest my argument was aimed at greedy rich savers who never spent in the Irish economy and not at ordinary savers earning the AIW or less. Maybe I didn't elaborate (its a grey area and would be a very difficult task to tax or punish) but my argument is that I am angry and frustrated that we have people who can afford to save and invest while the rest of us spend here; tip there; spend on our family and friends etc while we have Scrooge earning a fortune who knows the value of €10 and would rather keep it in their wallet therefore NOT keeping people in jobs etc


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    #94
    Scofflaw
    Registered Users Posts: 23,283 ✭✭✭✭Scofflaw


    NewDubliner wrote: »
    Also the banks aren't just being bailed out to support elite people's lifestyles - they're being bailed out so people can get loans again for their business for example and to help free up capital to get funds flowing for the economy. And it is a loan...
    Isn't the bail out compensating for the cost of forgiving the banks' debtors (particularly property speculators) who are failing to repay the money they owe?

    Not really - it's a loan from the government to cover the fact that other banks are unwilling to lend to them (or anybody) because of the uncertainty on their balance sheets - which latter results from the uncertainty over whether people like developers will be able to repay their loans. There's no debt forgiveness for the developers, though - they still owe that money to the banks, and the banks owe it to the government.

    It's a gamble, not a subsidy or compensation. If the developers pay off their loans, and most people continue meeting their mortgage payments, then the taxpayer has essentially bought the banks for the price of a loan - which has to be paid back. If things improve in the next few years without the banks actually going belly-up in the meantime, we will have made quite a lot of money on the deal.
    NewDubliner wrote: »
    Will they still be able to get government contracts after this?

    Sadly, I suspect so.

    cordially,
    Scofflaw


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    #95
    ixoy
    Moderators, Entertainment Moderators Posts: 17,993 Mod ✭✭✭✭ixoy


    Scofflaw wrote: »
    It's a gamble, not a subsidy or compensation. If the developers pay off their loans, and most people continue meeting their mortgage payments, then the taxpayer has essentially bought the banks for the price of a loan - which has to be paid back. If things improve in the next few years without the banks actually going belly-up in the meantime, we will have made quite a lot of money on the deal.
    Exactly - it's not quite just throwing 7bn into a black hole. There are projected returns on this. There is though an element of risk (witness the 300m loss with Anglo Irish) and I do think the government should be criticised for not demanding nearly enough in return for taking on this risk - for starters, they could have made clear they'd pursue the developers for outstanding loans because that one really rankles with the public.
    The risk probably needed to be taken, but it should have come with many more strings attached.


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    #96
    Harolds+
    Registered Users Posts: 186 ✭✭Harolds+


    Would it not be better to :-

    1) Let the debtors who owe money to the Banks eat cake (if you start up a business and your business fails, should the Irish people bail you out everytime?)
    2) Start a new Bank which would not only give the Irish public trust in a new nationalised Bank but show the International community that Ireland will not bail out or write off 300m for crooked deals and also the 15 x 500euro loans

    Our reputation (by the day) is gone to the dogs and yet nobody has been brought to book

    BUT the REAL reason the Govt is doing this is because of the FF culture and its long history of "friends in the Bank" who need to get looked after and its that simple. If you have seen the people at the Galway Tents it is made up of Developers and Bankers. I read yesterday in the times that a FF counsellor was roped up in making profits out of land deals and ILLEGAL DEALS.

    The Federal Reserve in the US OWNS the US Govt. They fund EVERYTHING down from Wars to bailouts and once we give the Irish Banks what they want (which they have) then we are FECKED like the SEPTIC TANKS/YANKS = FULL of SH1T

    I don't know about you but if I fail to pay my mortgage, the Govt wont come to my aid and help out and I don't expect them too either!


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    #97
    Golden Circ
    Closed Accounts Posts: 1 ✭Golden Circ


    http://www.whoarethegoldencircle.com might shed some light on things.


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    #98
    Harolds+
    Registered Users Posts: 186 ✭✭Harolds+


    Golden Circ wrote: »
    http://www.whoarethegoldencircle.com might shed some light on things.

    Creepy, very creepy

    To think that we should "take your hat off" to these people and say that "they worked hard all their lives" when they are probable crooks.

    It makes me sick :mad:


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