Thursday, January 15, 2009

Nationalising the banks comrades- Sure tis a great thing altogether now!


In the bad old days the biggest insult you could throw at the Labour Party was that they wanted to 'Nationalise the Banks'. The implication was that the horrible old socialists would rob all your money and take it out of your life savings account and throw it all away on nasty things like school classrooms and hospital beds.
Now take a look at the smiling man here and reflect! The face of 'Ireland Inc.', the epitome of all that was great in Irish life in the Celtic Tiger period was Mr. Fitzpatrick, when all of us who warned that our ten-year party was based on what David McWilliams called the greatest pyramid selling scheme in the history of capitalism were dismissed as pessimists who were 'talking down the economy'. And what was he up to all along-why feathering his own nest of course, along with a whole lot of other chancers. And what must we do now? Well Cowen and Lenihan first ask us to shell out a fortune to bail out the nice lads at Anglo, and then, sure we might as well buy it altogether sure!
Ten years ago you'd have been sent off to the Celtic Tiger gulag for unsound and unpatriotic people for suggesting nationalising anything-'give it to Michael O' leary-he'll show you how to do it' was the refrain. Remember now when Labour opposed the sell-off of Trustee Savings Bank from the state: 'Sure what would the state be doing running a bank?!!', the sneering fatcats chortled. Well how's about to put manners on a few people and to have a bit of financial ethics around the place as an answer?
Now is the time for this Government to get off its complacent backside and to engage in a real public debate about where we go next. I believe that what my party is proposing is the way to go. Let's stimulate the economy just as Obama and Brown are doing. Let's get building and creating, and if we have to borrow to give people hope and dignity back, let's do so. Staying stuck in the same old Thatcherite slash and burn policies of the 80's will plunge us deeper into darkness and will set our recovery back year.
Who do you trust more on this choice- Obama, Brown and Gilmore or Cowen, Lenihan and indeed Kenny?

2 comments:

Joe said...

I wonder why this is being done now? Given FF set their face agaisnt it it seems peculiar that the night before the shareholders vote that their goose is cooked. I also wonder if another institution outside of banking but in the general area of financial services needed proping up as a consequence of the colapse in confidence?
I was looking forward to the EGM to hear the board explain the schedule for repayment of "loans" due to the bank from the former CEO however this may not now happen as the board don't need the shareholders to vote. Why does it take you 10 years in this country to find out what went on today!!

Anonymous said...

Various left-wing commentators over the years: "We must broaden our tax base in Ireland"

Brian Cowan in Davos today:"We must broaden our tax base in Ireland".

Wow! Another convert to socialism from the front benches of FF!!!