The Unfolding Crisis and Ireland's Economic Ruin

Friday November 26, 2010 16:38

by IMC Collective

The Financial Coup is almost complete

Around the world countries have been betrayed by their politicians who have worked hand in glove with their capitalist partners to systematically destory each economy and then to hand them over to a private financial elite composed of bankers, investors and speculators and other parasites.
From Iceland to Lativa to Greece to Ireland the Financial Coup has taken place. It has already long ago taken place in such countries as the USA where big capital and big finance captured their governments long ago where corporations like Goldman Sachs have their own people in government dictating the bailouts. But many other countries are on the list. The austerity which the capitalists smile down on, have already hit most of Europe especially in countries like Spain, Portugal, Hungary and the UK.

The current crisis is the cumlination of a fairly long process starting in the late 1970s when the leading capitalist powers decided to go on the offensive and launched the Neo Liberal era which saw an claw back against all the rights gained by workers in the previous 70 years. At that time they also lent huge quantities of money to corrupt governments in the developing world and this ushered in the era of mega slums and third world debt bringing in the era of financial imperalism allowing the resources of these countries to be hauled away for almost free. continues below

So below we shall document some of the reactions of the Irish people so far:

Reactions and Events (on Indy):
Social Welfare Defenders group calls for protest against cuts outside the social welfare offices in Hanover Street Cork.
New campaign launched to support Independent candidates. -planning to field candidates in the election.Public meeting Thurs and Fri night
Spontaneous IMF March Cork City was on Nov 22nd
People Before Profit call for General Strike
1% Network calls for National Strike and March next Saturday
Garda attacks TDs - the centre is not holding from the WSM website.
Ireland in crisis: What can be done?
National Strike on Dec 1st anyone?
Protest Against the Bank Bailout - General Election Mon 22nd Nov -see story for what happened
Ógra Shinn Féin activist Injured by State car at IMF protest

Timeline:
Nov 1999: Glass-Steagall Act repealed in US. deregulates the banks leading to financial to wild west in global finance.
Oct 2008: Global finance goes belly up. Celtic Tiger officially dead.
Aug 2010: €27 billion Tranche 1 & 2 loans transferred to NAMA (i.e. to taxpayer). Almost 50% for loans on UK properties See report
Sept 2010: Legal door closes on shifting burden of bailout onto bond holders.
13th/14th Nov: Govt: "There is no bailout."
Thu 18th Nov: Central Bank Governor Patrick Honohan announces for all intents and purposes the EU/IMF bailout.
Fri 19th Nov: IMF arrives in Dublin to help transfer more wealth to the rich.
Mon 22nd Nov:: Greens announce departure from government in Jan.
Wed 24th Nov:: Outline of cuts announced by govt. Pensions taxed. Tax increases + VAT. 1 euro taken from lowest paid workers. Nothing taken from the tax exiles. No tax or royalities on Corrib Gas.
Wed 24th Nov: 24 hr General strike in Portugual against austerity. Nothing similar planned by Irish unions.
Thur 25th Nov: Govt trying to close deal with IMF before they are booted out and before people can challenge the deal
Fri 26th Nov: Speculators driving up interest rates for Portugal and Spain in an effort to break the Euro.
Fri 12am 26th Nov: News reporting that IMF/EU will charge 6.7% interest. Prof Morgan Kelly (IT 8/11) says anything above 2% will sink us. Above 5% and our debt grows faster than we can repay!
Sat 27th Nov: Between 50,000 and 100,000 march against IMF cuts and FF govt in Dublin
Sun 28th Nov: Details of €85 billion deal done with private capital (aka IMF/EU) announced. Interest rate will be 5.8% and we get to handover €17.5 billion of our pension fund. And note that €85 billion includes €17.5 billion of our own money, making the so called bailout actually a high interest loan of €68 billion much of which will be handed over directly to european banks
Sun 28th Nov: Story circulating Anglo was using derivatives mentioned by Pat Rabbit on RTE This Week. Anglo report shows derivatives of €184 billion in total for 2010 up from €167 in 2009. This seems to show why ECB demanded the Pension Fund (€17 billion) as collateral. -i.e. Since 2008, Anglo probably made a bet with derivatives they would get their money back and lost the bet. Hole now is even bigger.
Tue 30th Nov: Opposition claim IMF deal should be subject to a dail vote according to constitution article 25-9-2. "Markets" unimpressed by deal. Italy now being brought into the discussion more frequently in MSM.
Tue 07th Dec: Austere Budget passed targetting the lower paid
Thu 09th Dec: 40 million euro bonuses to be paid to AIB execs. Ireland's rating lowered by Fitch in spite of IMF "deal" (Minister intercedes to prevent payment of these AIB bonuses after major public outrage)

Then when they had grabbed all the resources of those countries, they moved on to other location bringing the Asian currency crisis, Mexican crisis and helping greatly in the Russian crisis too.

In the past decade or so, the Class War has once again returned home to the 'Western Hemisphere' and the process of bringing the third world home was well under way. This is the situation where all the countries assets are owned by a few, the vast majority are very poor, violence is rife and at the top rules a ruthless rich elite. In parallel around the world, we saw increasing militarization of police forces and the simulteanous propaganda war to glorify this.

Argentina in 2001 was the first casualty in this phase, where overnight the banks froze all accounts and millions of people lost their life savings. Almost instantly over 50% of the people were thrown into poverty. In the Argentina case, it later turned out that those who got their money out in time, were the very top few hundred wealthy families, who then used their fortunes to speculate against their own currency from outside and billions were made from it. Could the same be true today? Are Ireland's very wealthy speculating against our country and driving up interest rates and helping impose the drastic cuts about to fall?

As we write, this past week we can see something very similar to above unfolding before our eyes. One thing is clear throughout the full spectrum of political opinion is that we have lost our sovereignity and from now on we will be controlled by the dictates of some unaccountable private group. We know that big cuts have already happened and bigger ones are on the way. We also notice that the rich remain largely unaffected. We know that the poor and less well off have been affected most through cuts to the very services that form the working fabric of our society and that the very small amounts that had been spent on numerous well deserved causes and groups, is almost gone.

Yes, the third world is truly on its way to Ireland. It was reported during the week that thousands of people have had their electricty (ESB) cut off because they couldn't pay. In both the US and UK, houses that were cut off, burnt to the ground because of the occuptants switched to just candles and subsequent accidental fires. How long before the same thing happens to people's water supply when they start collecting the water charges. How about bin charges? If people can't pay their mortgages they will probably not pay their bins. Will the streets begin to fill with trash?

Prof Morgan Kelly last week estimated that at least 100,000 people are in severe difficulty with their mortgages. Where is the bailout for these people most of whom were very successfully duped into paying for massively overpriced houses with the help of the relentless propaganda during the bubble from the media, the govt, the banks, developers and estate agents all singing to the same hymn sheet. We also know most of the debts racked up were for commercial property (data here) and NOT greedy house buyers as the media has so cleverly managed to keep as the party line for the past two years

Make no mistake, the next move will be to try and sell off what remains of our state assets as suggested by the foot soldiers of big capital. The health budget will be severly cut, but more private hospitals will be built, but if you don't have the money it will be a case of 'please drop dead' from the capitalists. They don't care. For them, education must and will be cut too. Educated people are a threat to reining in the super wealthy and they may even try to estasblish something as subversive as democracy.

The War of Terror is the propaganda instrument to deter the masses. This is a united effort by all capitalists across the world to stamp out equality, justice and democracy. They talk of justice yet a million+ have died in Iraq which most European govts including ours supports. Where is the justice in that? Civil liberties have been stripped everywhere. In our case, witness the completely over the top Garda violence at the Student march (here) or the violence yesterday at the Dail over a simple protest (here). Witness also the relentless violence against Shell to Sea campaign done out of the public eye over the last few years. Anyone who objects or protests is quite clearly a subversive and terrorist in today's post 9/11 world. Depending on the situation, its batons, tasers, tear gas, rendition and water boarding or predator drone hellfire missles for you. This is really just the Class War but the powers that be and not the gombeen ministers in our govt or the pending ones in Fine Gael, but the very powerful shadowdy people in the banking, financial and corporate world are the real power brokers, -these people dare not alert the masses to the fact that there is a class war hence the War of Terror, because their propaganda is so successful and they do not want the stark reality to sink in and instead have the masses cowering in fear at various bogey men. The extreme form of their public manipulation success is the moronic and clueless Tea Party in the US, which is behind the scenes backed and funded by big wealth.

These are the people you and your children will be paying the gambling debts of if we take on IMF loans guaranteed by the taxpayer to bail out the banks further.
Also IMF loans to bail out the banks come with "conditions" as mentioned above which will result in lucrative privatisation of our utilities.
So the idea is we pay their debts, give them our stuff, live in poverty without healthcare while we work for their companies for peanuts.
Note: both Goldman Sachs and Rothschild amongst others were advising government AND were bondholders in Anglo. ?!?!?!
Don't take this lying down. GENERAL ELECTION NOW! before it's too late and the deals are done.

save preference

Comments (72 of 72)

sums

by opus diablos - the regressive hypocrite party

Fri Feb 11, 2011 12:51

Heres a few more interesting ones from over the pond.

http://www.globalresearch.ca/index.php?context=va&aid=23154

Same ol' oval head office, as slick willy clinton used to call it.

But sure we have our very own Tricky Micky Martin at this end.

Sinn Féin would tell IMF: ‘You need to go’

by W. Finnerty

Mon Feb 07, 2011 07:00

“We would immediately repudiate a debt that is not ours,” he said. “Any of the bank guarantees that were not State debt would be repudiated…We would tell the IMF ‘you can have your money back and you need to go’.”

The above excerpt is from: http://www.breakingnews.ie/ireland/sf-would-tell-imf-yo....html

I would agree 100% with Angus O'Snodaigh TD that the IMF needs to be asked to leave the Republic of Ireland; and, that the sooner we wash our hands of them the better.

The main reasons for these beliefs of mine are set out at the following www location:
http://www.humanrightsireland.com/UndisclosedRecipients...l.htm

Central Banks & Fractional Reserve Lending

Fri Feb 04, 2011 14:31

"Hence the drive by the bankers themselves to get the government to cartelize their industry by means of a central bank. Central Banking began with the Bank of England in the 1690s, spread to the rest of the Western world in the eighteenth and nineteenth centuries, and finally was imposed upon the United States by banking cartelists via the Federal Reserve System of 1913."

"How can I 'lend out' far more than I have? Ahh, that's the magic of the 'fraction' in the fractional reserve."

"The nineteenth-century English economist Thomas Tooke correctly stated that 'free trade in banking is tantamount to free trade in swindling.'"

All three of the above excerpts have all been copied from: http://www.lewrockwell.com/rothbard/frb.html

and that would guarantee...

Wed Feb 02, 2011 12:55

..an automatic shift from to the lowest common denominator to the highest common factor???

Reminds me of the story me granny told me when I was three.

She asked had I heard about the constipated mathematician who worked it all out with his pencil. Add it to your slide rules.

Hey!

by Pushkin

Mon Jan 31, 2011 19:07

You could be on to something. The franchise is to open as well. I say if you want to vote then you should have to solve a Quadratic Equation.

Hard Machinery.

by Maths Type.

Mon Jan 31, 2011 18:59

The real trouble with Ireland is that it is ruled by Arts Graduates.
Most Irish politicians probably cannot prove a theorm.

They probably cannot spell the word theorm.

They love Joyce and Yeats and Picasso though.

No German Gearboxes designed here in the world of the "Dreamy Celt."
.

And another thing ...

Mon Jan 31, 2011 09:27

"After years of hewing (i.e. conforming) to IMF financial dictates, citizens lost their jobs, bank accounts, savings and pensions overnight."

The above statement has been made by Dr Beatrice Edwards, International Reform Director at GAP (Government Accountability Project).

For more on GAP please click on: http://www.whistleblower.org

Related Link: http://www.whistleblower.org/about/gap-staff/96-beatric...ector

that aint a government

Sat Jan 29, 2011 15:33

thats a VICEROY.

1. Pimp your population into sub-prime bondage to global financy-boyos.

2.Splutter and mutter when our passports are cloned (Mick Mouse Martini)for assassination terror-hits in a third country.And now he is going to reform the corruption he's been weaned on?

3.Blink and fart when an Irish aid ship is hijacked(murder inc.luded)and confiscated.

4.Keep on dining in style while the kids stream from the country, yet again, in search for work.

Economic treason??
No way, this is the full fucking Monty. Sovereignty betrayed, Neutrality betrayed(Shannon, RRF/NATO etc.)and any shred of Independence and comittment to a viable international order through ethical action at the UN dumped for nodding-doggie in the back window(how much??)status.

And, coming shortly, a toss-up between Leo Varadkar and Alan Shatter as Minister for Foreign Affairs. Guess who sends them Hanukkkah gifts.

Nope, not Vanunu.

Arch-Capitalist Soros.

by Foolish.

Sat Jan 29, 2011 14:53

Even the arch-capitalist and well tuned-in capitalist George Soros says the the Irish people should not pay the debts of foolish bankers.

"The Irish taxpayer takes the hit for what faraway bankers gambled on?
How utterly unjust"

So much for the Irish government who brokered this deal.

Ta, W F

Sat Jan 29, 2011 13:47

That traskryptionite is affecting me infallibility super-powers again. Must pray harder.

Meantime, at risk of being slapped for repetition and redundancy(I'm used to that one) try

http://www.treasureislands.org

(hope that one is write) for a breakdown on Nicholas Shaxons map of the offshore troves of accumulated loot swilling round the planet like some track-wiping cyber-virus as they juggle the jurisdictions to maximise their bottom lines, lest democratic accountability/transparency rear its ugly head; other than as an election slogan.

The book of the same name just hit the January shelves.Most readable.

Interesting

by Rottenchild

Fri Jan 28, 2011 18:18

"The IMF and World Bank are themselves without any real external oversight. They are virtually impenetrable by the legislatures of their member governments. Labyrinthine bureaucracies, coupled with immunities from national and international laws, have become, for them, impunity."

From: http://www.poconorecord.com/apps/pbcs.dll/article?AID=/...80302

"My mistake, you're wrong"

Fri Jan 28, 2011 18:02

I think "opus" probably meant: http://imfresistance.org

For more

Fri Jan 28, 2011 17:00

If you are not there already try

www.contact@imfresistance.org

Bailout by IMF

Fri Jan 28, 2011 16:27

Representatives of the IMF are now in here acting like "super inspectors" of some kind over us.

Why have they not "super inspected" themselves and the bankers who are responsible for their self-inflicted gambling debts?

Had the IMF done so, the huge gambling debts of the bankers would never have come into existence in the first place.

The more I learn about the whole situation, the more I'm inclined to believe that the "bankers gambling debts" have been contrived: in the knowledge that governments could be tricked, bullied, bribed, (or whatever) into borrowing the vast sums of money needed to pay off these gambling debts.

The IMF (and their accomplices) then produce the money to pay off the debts from nowhere, out of nothing, using the centuries old scam known as "fractional reserve lending" (perfected by the Bank of England and the dozens of privately owned "Central Banks" modelled on the Bank of England since 1694); and, the fictitious money which was created "out of thin air" magically becomes "debt" that is 100% real: once the governments sign the necessary legal papers produced by the IMF, and accept the "money".

Then, and to add insult to injury, the IMF charge interest on the "thin-air money" they "lent", which they normally saddle the taxpayer with: via legal arrangements they make with the grossly corrupt and/or stupid government they have conned, bribed, bullied, blackmailed, or whatever.

And all of the time that all of this trickery and fraud is going on, there is nothing whatsoever to prevent the governments in question from providing themselves with their own completely debt-free and interest-free money, which they need for their own responsible and necessary trading purposes, and which would not include vast sums for international gambling purposes.

German workers

Fri Jan 28, 2011 13:14

Have far superior health, public transport, working conditions and other supports. Not every public sector worker here has those wages; its like evrywhere else, many underpaid and the few grossly overpaid. Which suits selective generalisations. Goebbels wrote that handbook.

If the ECB had been less irresponsible(or was it a premeditated sting???) cheap credit would not have induced the frenzy that was unleashed by the speculators while the ordinary worker was forced to hock his kids to keep a roof over their heads. back in your bunker. That 'bailout' is not for the Irish worker, it is the Irish worker PAYING for the ECB's usuruous policies. Britannia has been doing it to us for years. Deutchland has been trying to get in on the stroke since at least the nineteenth century.

Overpaid Irish.

by German.

Fri Jan 28, 2011 11:54

The trouble about Ireland is the "Parish Pump".
Even after the bailout by Germans the Irish Public Sector Whinge and whine.

The German public sector are paid less than half of what the Irish public sector are paid.

€50k a year is rare in German workers.

"Finance Bill passes by comfortable majority"

Fri Jan 28, 2011 11:39

"SEANAD ÉIREANN will debate the Finance Bill today and tomorrow after the Dáil passed the controversial legislation by a comfortable 81 votes to 76"

The above excerpt is from: http://www.irishtimes.com/newspaper/ireland/2011/0128/1....html

Does anybody know where accurate details of the voting can be found, relating to who voted "yes", "no", who was absent, and who abstained?

I'd like to get my "who not to vote for" list ready as soon as possible.

If the voters of the Republic of Ireland have any sense left in them, it is my view that the 81 TDs responsible for getting the Finance Bill through the Dáil BEFORE the General Election, plus any who were not present or abstained without good reason, should never again see the inside of Dáil Éireann as "elected representatives" of the people of the Republic of Ireland: NOT ONE OF THEM!!

George Soros.

by Radio 4 Listener.

Thu Jan 27, 2011 13:30

I found it interesting that the "Arch-Capitalist" Billionaire George Soros said on BBC Radio 4 this morning that he expects the Irish people to deliberately default.

"The deal heaped on the Irish people by bankers is unjust. Why should they pay?".

Billionaire rapacious capitalist he sure is.
But Soros has a sense of justice.

the reality

Wed Jan 26, 2011 16:54

For ireland is that it has progressively imbibed a neo-conservative orthodoxy that has hijacked debate across the globe, and it is studded with presumptions of growth and expansionism that are relics of the imperial ages of human political and social evolution that are no longer fit-for-purpose in the globalised twenty-first century.

We need to INVENT a steady-state inclusive planetary model of resource management that puts the population welfare ahead of numerical gains.
And it needs articulation in non-ideological terminology.
The language of conventional economics, and the priesthood of econometricians with their mantras and superstitions(e.g. the constant refernces to 'the economy' singular to refer to different things and areas).

And we need to drop the idea that this an Irish problem. The VALUE SYSTEM underlying the economic indicators is based on pre-human animal territorialities and rivalries.
It needs replacing with a human system that will first require a reassessment of what actually constitutes being human. Being a language and tool-using biped is no longer sufficient.
Failing that, any change will be political, and as such, cosmetic and temporary.

Aint no shortage of work. Its the way its rationed by the gluttons.

Aint no shortage of money. Its the way its manufactured to fund the wrong ends.

Its still the fundamentals of the stupid economy, not 'the economy stupid' as Clinton read it to serve his political short-term ends. The smart economy is NOT the one they are trying to sell us with hi-tech fixes, thats their dream of more of the same only 'sexier', a la Bliar.

If David Mc Williams was Taoiseach

by David Mc Williams

Wed Jan 26, 2011 13:16

David Mc Williams was given considerable airtime this morning on Today FM`s radio show: The Ray D'Arcy Show, due to his article in this mornings Irish Independant... Asked would he run he responded no.

If I was Taoiseach... what I would do to save Ireland

http://www.independent.ie/opinion/analysis/if-i-was-tao....html

Strange as it may seem now, the next few years offer the greatest opportunity to change Ireland. It is difficult to see beyond this crisis when many of us are mired in a deep, deep depression, but we can fix this economy and heal this society.

To get out of a crisis, you must first define reality, face up to it and then do something about it.

The reality for Ireland is that one part of the economy -- the domestic economy -- is broken; meanwhile, the multinational sector is thriving...

read all at http://www.davidmcwilliams.ie/2011/01/08/if-i-was-taois...eland

RUSH, RUSH, RUSH ...

Wed Jan 26, 2011 07:35

Leaving aside the very small number of TDs who are genuinely now trying to have all matters relating to the Finance Bill decided AFTER the General Election, the rest of our TDs well know (without "letting on" to the voters of course) that if they look after the banks, the banks will look after them.

And, despite all of their glib talk, that's ALL the vast majority of our TDs seem to care about it, or so it appears to me at least. The people of the Republic of Ireland who vote them into power don't seem to really matter to our "elected representatives" (once they've got their votes that is), and neither does the sovereign independent State of the Republic of Ireland and its written Constitution (Bunreacht na hEireann).

So, RUSH, RUSH, RUSH is what now best suits the banks to get the legislation the banks want, and that's exactly what the vast majority of our TDs are doing.

Then, once the bank-benefitting legislation is securely in place BEFORE the General Election, "sledge-hammers and dynamite" will not be enough to remove it afterwards: and our legal profession can (I believe) be fully relied upon -- 100% -- to attend to that very important aspect of things.

So This Was Cowen's Deal...

by children_of_lir

Tue Jan 25, 2011 22:20

It was Cowen's deal with the main opposition parties to step down from FF leadership if the Finance Bill would be passed in Dail. This Bill will ensure that the workers of Ireland pay for Cowen's banking friends who have screwed Ireland.

The main opposition parties only want to obtain power and will behave no differently from FF.

they do seem to be

Tue Jan 25, 2011 11:23

the only ones outside the race-tent.

But listening to Doherty last night and Adams this morning I think Mr Adams should back away and let the new generation take the lead.

Otherwise, given the deep-dyed programming of southern meejits agin the shinners, he's likely to be more of an electoral handicap than asset.

Making a mockery of democracy to please the bankers ...

Tue Jan 25, 2011 09:13

Sein Fein are the only ones making any sense (to me) regarding the rushing through of the Finance Bill.

"The people should have a say. When the people have their say, then a new Dáil - a new Government - can bring forward any measures that it's mandated to bring forward." (Taken from a Sein Fein comment at: http://www.u.tv/News/SFs-Adams-calls-for-immediate-elec...50ce3 )

Simple?

But what is preventing the rest of them from supporting such a fundamental and basic democratic principle I wonder?

One thing is for sure: I would NEVER vote for ANY general election candidate who is making such a socially destructive and irresponsible mockery of democracy in the way that all of the non-Sein Fein candidates now appear to be doing.

Ring , Ring , why dont you give me a call ?

by Sceptic - None Whatsoever

Tue Jan 25, 2011 02:21

Lest we forget the antics of one Conor Lenihan , shaken and stirred by Vincent Browne
to the point of Lunacy when C.L. actually believed anybody would tolerate his ' role ' as
der Leader of Fianna Failure . I never laughed as much in all my Life .

Is the time for real change upon Ireland finally???

by 'misfits' + 'ragbags' = Irish left

Mon Jan 24, 2011 20:52

Seems like Labour will not be pushing any real left alternative to the crisis, bit like their friends across the water. Sinn Fein are pushing at Labour, pointing out their lack of boldness, then in turn Labour's Roisín Shortall stooped last night to calling left-wing politicians 'misfits' and 'ragbags'. Strange days, quietly in the media across the water, Gerry Adams gives a summing up interview of where things are at...

- Sinn Fein’s Pearse Doherty gives Pat Rabbitte a right bollockin on RTE's Pat Kenny this morning
- Roisín Shortall, Labour, calls left-wing politicians 'misfits' and 'ragbags' on last nights "The Week in Politics"
- Meanwhile Gerry Adams states in the Guardian: SF believes this will be its breakthrough year in the south.
- Green party minister: why we pulled the plug, Green party TD Ciarán Cuffe
- Mass resignation from Laois/Offaly Labour Party - New Left Alternative organisation launched in constituency...

- Sinn Fein’s Pearse Doherty gives Pat Rabbitte a right bollockin on RTE's Pat Kenny this morning

Today with pat kenny: Monday 24th January 2011 -Politics
audio - http://www.rte.ie/radio1/player_av.html?0,null,200,http....smil
link - http://www.rte.ie/radio1/todaywithpatkenny/2011-01-24.html

Just when we thought the political system in this country couldn’t become any more volatile – it did just that!

Weekend developments have left us with a minority government, the Greens on the opposition benches, confusion over how long it will take to get the Finance Bill through the Dail, a new Fianna Fail leader to be elected on Wednesday and an earlier general election than the previous date of March 11th .

With Pat were Eamonn Ryan of the Green Party, Pearse Doherty, Sinn Fein’s finance spokesman, Pat Rabbitte, Labour’s justice spokesman and Peter Power, junior minister in the Department of Foreign Affairs. Also joining us from our limerick studio was Fine Gael’s finance spokesman Michael Noonan.

- Roisín Shortall, Labour, calls left-wing politicians 'misfits' and 'ragbags' on last nights "The Week in Politics"

The Week in Politics - Sean O'Rourke calls "the most mind blowing week since the arms crisis of 1970"
http://www.rte.ie/player/#v=1089683

outcome of that:

RÓISÍN SHORTALL: WHAT THIS COUNTRY NEEDS IS RIGHT-WING STABILITY
http://dublinopinion.com/2011/01/24/roisin-shortall-wha...lity/

Footage from the Week in Politics (23 January 2011) where Roisín Shortall of the Irish Labour Party calls left-wing politicians 'misfits' and a 'ragbag', and explains why the Irish Labour Party, in its pursuit of a left-led government for Ireland, promises to have no dealings whatsoever with any left-wing parties, policies or politicians - preferring instead to give the country a stable, right-wing, government for the next five years.

She then explain how the Irish Labour Party will perform political alchemy by transforming the right-wing Fine Gael party into a left-wing government through the adoption of Fine Gael's right-wing economic and social policies.

vid - Roisín Shortall: ragbag and misfits
http://www.youtube.com/watch?v=ms9WE7FoPM4

- Gerry Adams: 'I'm happy with who I am ... it's very important to be a subversive'

The Sinn Fein president on his hopes to win a seat in the Irish parliament and create a united Ireland – and how he has never distanced himself from the IRA

Sinn Fein, which has a handful of seats in the Irish parliament, believes this will be its breakthrough year in the south.

http://www.guardian.co.uk/politics/2011/jan/24/gerry-ad...ction

- Green party minister: why we pulled the plug, Green party TD Ciarán Cuffe
http://www.guardian.co.uk/business/ireland-business-blo...eland

- Mass resignation from Laois/Offaly Labour Party - New Left Alternative organisation launched in constituency... (14/01/2011)
http://www.socialistworld.net/print/4772

On Tuesday night, twenty members resigned from the Labour Party in Laois/Offaly, formed an independent Left wing organisation and nominated a candidate to stand in the General Election as part of the ULA. This followed the crude imposition of a General Election candidate by the Labour Party leadership at a Selection Convention in December where the democratic rights of ordinary members were trampled on. This was seen by the local members as an attempt to ensure that any candidates elected to the Dáil for the Labour Party would not oppose the intended policy of the leadership to join Fine Gael in government and continue the disastrous bailout policy of the present government.

The new Left group pledged to ’bring a left wing political and economic analysis to issues in Laois/Offaly’ and to ’oppose the current right wing political consensus both locally and nationally especially in relation to the IMF/EU deal, the banking crisis, cuts to public services and the levying of further taxes on the lower paid and those on social welfare.’

Caption: Video Id: ms9WE7FoPM4 Type: Youtube Video
- Roisín Shortall, Labour, calls left-wing politicians

dead right

Mon Jan 24, 2011 12:57

and thats exactly why they want it processed pronto. Thinking might be conducive to democracy, no time for that.

Why the almighty big rush to pass the Finance Bill?

Mon Jan 24, 2011 11:30

"The bill, which both Fianna Fail and the Greens regard as a national priority, is important because it is a central commitment that the Republic of Ireland government entered into as part of the 85bn euro (£72.4bn) European and IMF bailout loan announced last November."

The above is an excerpt from a recent BBC report at: http://www.bbc.co.uk/news/world-europe-12262032

Surely this huge bankers "bailout loan" is an EXTREMELY important election issue?

Voices of countless Irish emigrants won't be heard in next election

by Irish emigrant

Sun Jan 23, 2011 14:25

Irish emigrants deserve a vote

Ireland is gearing up for possibly its most important election ever, but the voices of countless Irish emigrants won't be heard
http://www.guardian.co.uk/commentisfree/2011/jan/22/iri...ction

Under Irish electoral law, unless you are "ordinarily resident" in the country (that is living in Ireland on 1 September in the year before the voting register comes into force) you cannot cast a ballot in elections.

More than 110 countries allow passport holders living abroad to vote. Ireland, with its long history of emigration, is not among of them. Unlike citizens of, say, Ghana, Mexico or the Dominican Republic, Irish people living outside the republic are barred from directly participating in the electoral process. Greece, the only other EU member with a similar policy, is in the process of amending its legislation following a successful appeal by two Greek nationals living in France that the law breached the European convention on human rights.

Emigrant voting rights have been on the political agenda in Ireland before, most recently in the 1990s

Just how many of the Irish people moving to the US, Australia, Canada, the UK and other places around the world realise that they lose their vote when they leave is unclear. That they are being disenfranchised is beyond doubt.

Irish Echo (Aus): “Fresh calls for vote to be extended to Irish abroad” (via Global Irish Vote)
http://globalirishvote.com/2011/01/12/irish-echo-aus-fr...road/

Economist David McWilliams said in a recent Irish Independent column that he would “extend the vote to everyone who is an Irish citizen no matter where they live” if he was Taoiseach.

Fresh calls for vote to be extended to Irish abroad (Irish Australia, News)
http://www.irishecho.com.au/2011/01/12/fresh-calls-for-.../6300

Up to 30,000 Irish citizens living temporarily in Australia will be unable to vote in Ireland’s forthcoming general election.

However, their situation is being highlighted by renewed calls to give votes to Irish citizens abroad.

Just last week the Irish Government was criticised for failing to act on external voting, after the Irish Daily Mail claimed that the Government ignored a report recommending extending the franchise to citizens worldwide.

Remembering Biffo: Gargle Gate, The emporer has no clothes + bringing the country to economic ruin

by Slán Biffo

Sun Jan 23, 2011 13:44

Gargle Gate:

- Singing Taoiseach hits bum note as critics lap up 'Gargle-gate' in Galway
http://www.irishtimes.com/newspaper/ireland/2010/0915/1....html

- Brian Cowen featured on NBC's Tonight Show with Jay Leno monologue
Brian Cowen called a "drunken moron" in NBC Tonight Show segment from Sept 22, 2010
http://www.youtube.com/watch?v=gRZvERI5nf8

- Brian Cowen Drunk in Galway Parody Song - 98FM
http://www.youtube.com/watch?v=3zJkdJ2I58o

- Brian Cowen Drunk and "Sorry"
http://www.youtube.com/watch?v=K8Lqxg-QP1Y

A man of the people. Flawed yes. But a man of the people all the same. Some alcohol, some nudity and some public urination, we take to the streets with Brian Cowen to say sorry.

Biffo: The emporer has no clothes

National Gallery Hides Art: RTE Hides News: Artist Hits Nail On Head: Guards Involved
http://www.indymedia.ie/article/91540

Last Saturday a man added his own original artwork to the walls of the National Gallery's portrait collection. He placed his 'Portait of Brian Cowen' on the wall next to a work depicting Maeve Binchy. It hung for forty minutes, before being removed.

Brian Cowen's hissy fit. (RTE apology to Cowen)
http://www.youtube.com/watch?v=zQ3OHbZ_4cg

Brian Cowen's complete unsuitability as leader of Ireland once again comes to light as this Grade A prick goes crazy about nude paintings while the country falls on its knees around him.

Guerrilla artist hangs nude Cowen paintings
http://www.rte.ie/news/2009/0323/cowennude.html

All the same though, wasnt Bertie a cheeky fu**er getting out when he did, knowing full well what lay around the corner... C*nt

Remembering Biffo: The emporer has no clothes

Remembering Biffo: RTE apologizes to The emporer

Remembering Biffo: Brian Cowen called a "drunken moron" in NBC Tonight Show with Jay Leno

Caption: Video Id: gRZvERI5nf8 Type: Youtube Video
Brian Cowen called a "drunken moron" in NBC Tonight Show

Caption: Video Id: zQ3OHbZ_4cg Type: Youtube Video
Grade A prick goes crazy about nude paintings while the country falls on its knees around him.

Transitioning Ireland out of the crisis to being an economic ecological leader...

by dunk

Sun Jan 23, 2011 12:52

The Irish situation is perhaps the laughing stock of the world at present, a shower of donkeys, a circus, a country that seemingly puts up with it all... But will this week be the final straw? Radical change is needed. Will we finally see the end of the civil war politics, it doesent matter whether its FF or FG, same shite different color. But will labour be any better, seems unlikely. Will perhaps SF make major gains, will ULA get a strong vote? But what will it all lead to?

Whats needed is to rethink it all, reclaim Ireland.

You remember the old Iceland joke about 2.5 years ago...
- "Whats the difference between Ireland and Iceland?"
- "1 letter and 6 months..."

Well who is laughing now? There the people rose up, booted out the corrupt government and now the people have re-written their constitution and seemingly are getting themselves out of the crisis. Remember "crisis" is not only a negative thing, in the image from China that makes up the word, it is comprised of the 2 polar sides; danger, but also opportunity.

So with that, perhaps Ireland, "the green isle" might be able to swing in the other direction, get out of the mess, and actually show a different way. In fact, to a very small level, its already happening. The transition movement (stemming from the world of permaculture) grew out of a small school in Kinsale, ive heard stories of film crews coming from korea to view the source of things. Anyway, we will see.

The Powerdown Show - Transition Towns and Energy Descent Pathways
http://vimeo.com/4678220

Transition Ireland & Northern Ireland - the network for communities building local resilience
http://transitiontownsireland.ning.com/

Cowen resigns as FF leader, remains Taoiseach
http://www.rte.ie/news/2011/0122/politics.html

As It Happened - Cowen steps down as FF leader (timeline)
http://www.rte.ie/news/2011/0122/cowenb_tracker.html

Within "Crisis" lies the opportunity - A time for Ireland to transition itself out of the mess

Caption: Video Id: 4678220 Type: Vimeo
The Powerdown Show - Transition Towns and Energy Descent Pathways

Saturday, January 22nd: Biffo resigns as FF leader, but to remain as Taoiseach

by Biffo: going, going... gone

Sun Jan 23, 2011 12:26

Cowen resigns as FF leader, but to remain as Taoiseach
http://www.irishtimes.com/newspaper/breaking/2011/0122/....html

Brian Cowen has resigned as leader of Fianna Fáil but will continue as Taoiseach until a new Government is formed after the general election on March 11th.

Mr Cowen announced that he had stood down at a news conference in the Merrion Hotel, Dublin this afternoon, adding that he alone had made the decision.

“I have decided, on my own counsel, to step down as leader of Fianna Fáil.”

The Taoiseach said he made the decision this morning after making a political assessment of the situation last night.

Timeline of unraveling leadership
http://www.irishtimes.com/newspaper/breaking/2011/0122/....html

AUDIO: Brian Cowen announces his resignation as Fianna Fail leader
http://www.irishtimes.com/newspaper/breaking/audio/0111...f.mp3

French Banks are better.

by Peadaar

Fri Jan 21, 2011 20:19

I shop in Aldi and Lidl and Tesco.
All foreign.
No bother.

If a local store goes bust: No bother.
If a local bank goes bust: No bother..to me.

Not according to this government.
The Irish people must pay all ills for banks with "Irish" in the name.

When Banking cowboys in Ireland go bust the Irish taxpayer must pay.

Good idea to refuse to pay Moneylenders.

by Peaadar

Fri Jan 21, 2011 19:55

When a money lender says "You must pay".

Only cowards say:
"My children are starving but I will pay you money-lender first."

They took the risk in lending.

Good idea to tell them to fuck off and refuse to pay them.

Ireland's cash cow

Thu Jan 20, 2011 14:43

We understand that the dough/monies has already left Ireland and is stashed in offshore accounts that don't require you to be a resident of that country. What's news?

We can't blame Europe for the mess our politicians got us in.

We are not fooled by Biffo (Brian Cowen) playing the village idiot when it suits his agenda. However, we know there are still pickings to be had in Ireland.

The Irish people are inhibited and allowed FF to milk the country as though their cash cow would never run dry.

and as for that...

Thu Jan 20, 2011 14:37

'..financing your farmers...' bit.

That was the pacifier so they could scoop out our fishing grounds. Nations dont do friends, they do INTERESTS. Now they have our democracy and media in their europhile tent, they will empty the island to make it Eiredisney on the Atlantic.
Cant have it too cluttered with peasants, it might spoil the views. And our own financial wide-boy aristos are quite pleased at that, have been for centuries. Stand by for more media coverage of the advantages of emigration. Well Pat Kenny&Co dont want their pensions diluted by any mention of equity, unless it refers to their share portfolios.

bollox

Thu Jan 20, 2011 14:23

a simplification at best. This pump and dump scam has been running for centuries, through the tulip markets and south sea bubbles to the savings and loans scam and enron to the haliburton/bechtel privatisation of war to the current currency stand-off between China and the Fed(thats the artists formerly known as the US of A) and down to the Eurobankers from 'The City' of London and their offshore branches in Jersey, Isle Of Man, Lichtenstein, Switzerland, Florida, Cayman and Bahama Islands with a dash of Triad Hong Kong slush.

Get your hands on Nicholas Shaxson's Treasure Islands (Bodley Head, 2011)for a little inside dope on what goes on in the tent that the Galway race-tent works for. Shells within shells. Joe Higgins called it right. But the other side is that our IFSC(CJH's baby) shelters the same shysters.

http://www.treasureislands.org

and no, I dont get a percentage.
And its not so much a conspiracy, more, as Paul Simon nailed it ' a loose affiliation of millionaires and billionaires..'.

Ireland has only itself to blame for the lack of fiscal responsibility by FF Government

Thu Jan 20, 2011 13:38

Inane posturing by the Irish member appears to stick in EU Commission president José Manuel Barroso's throat -

http://www.irishtimes.com/newspaper/frontpage/2011/0120....html

"“To the distinguished member of this parliament that comes from Ireland, who asked a question suggesting that the problems of Ireland were created by Europe, let me tell you: the problems of Ireland were created by the irresponsible financial behaviour of some Irish institutions and by the lack of supervision in the Irish market,” he said.

“Europe is now part of the solution; it is trying to support Ireland. But it was not Europe that created this fiscally irresponsible situation and this financially irresponsible behaviour. Europe is trying to support Ireland. It is important to know where the responsibility lies. And this is why it is important that those of us, and this is clearly the majority, who believe in European ideals, that we are able as much as possible to have a common response.”"

And

"“To those who made those comments . . . against European solidarity . . . I ask them – where were you when Europe was financing your farmers after the war to feed your own people?”"

What a bashing by the EU Commission President!

Special Offer

Closing down sale(for a wee while).May be moving to smaller premises.

get in now, and by mid-summer you too could be party leader.

Vocal about transparency?
No problem. Make it loud n long. We specialise in vocals.

join now while offer lasts. Lotsa vacancies

small print :
includes special st patricks day exotic junket for ALL(sshhh) aspirants(provided you dont actually do anything, other than vocals).

FF 's secret voting is not a transparent party

Thu Jan 20, 2011 13:14

The secret confidence vote for Brian Cowen is not a transparent party. If I was a party member I would be extremely vocal about the lack of transparency.

But when...

Thu Jan 20, 2011 11:49

...will she sing, and tell us where all them bodies are stashed in the FF crypt.

Something tells me there are envelopes in a safety deposit box somewhere that ensured she was never challenged internally.

Im a big f** c***, get me out of here

by Burb

Wed Jan 19, 2011 21:45

Mary Harney announces resignation from Government
http://www.irishtimes.com/newspaper/breaking/2011/0119/....html

Cowen isn't finished screwing Ireland

Wed Jan 19, 2011 08:55

The Irish are an inhibited people.

Cowen doesn't care about the FF party otherwise he would have resigned long ago.

Cowen's message is that he hasn't finished screwing Ireland.

medical consultants

Tue Jan 18, 2011 14:18

Are not the public sector. They are the privateers of the public health service into their own private sickness industry.

Or do you think the new idea to reduce trainee nurses to non-payment for 40 hour weeks is a good idea?Your scatter-gun needs aiming.

He who pays the piper......

by Pedaar

Tue Jan 18, 2011 14:13

"Decoying you with that red-herring."

Red herrings who think that 40K a year is "low pay"?

Most medical consultants have about the same skills as car mechanics.

As the German Ambassador complained:
"They call €220 grand a year mickey mouse money!"

The Germans pay the piper.
The Germans call the tune.

big generalisation,Peadarr

Tue Jan 18, 2011 14:01

The top of the public sector is overpaid. But not nearly to the extent of the top of the private sector who are decoying you with that red-herring.

Reality Check.

by Peadaar.

Tue Jan 18, 2011 12:18

"And, after the budget which cripples everyone."

Ahem.

It does not cripple the most highly paid and comfortable Public Sector on planet earth.
Paid for by the IMF.

Brian Cowen is still paid more than Barack Obama.

(As our paymasters in Germany and France constantly sneer.)
.

Im a bfc, get me out of here

by fat c***

Sun Jan 16, 2011 11:47

Biffo, your days are numbered

Cowen considers future as leader of Fianna Fáil party
http://www.irishtimes.com/newspaper/breaking/2011/0116/....html

Im a big fat cunt, get me out of here

Cowen - Out Out Out

by Bye bye Brian

Thu Jan 13, 2011 14:38

- Speculation mounts over Cowen's leadership
http://www.rte.ie/news/2011/0113/politics.html

Speculation is mounting in Leinster House that Brian Cowen's position as leader of Fianna Fáil is under imminent threat.

A meeting of the Fianna Fáil parliamentary party that was due to take place this morning has been postponed until 3pm.

- Cowen's position under threat ahead of FF meeting
http://www.irishtimes.com/newspaper/breaking/2011/0113/....html

Is today the day when Cowen goes down???

by Cowen's last day?

Thu Jan 13, 2011 12:08

Move to oust Cowen underway, say tweeters
http://politico.ie/index.php?option=com_content&view=ar...d=877

At around 12.30am Fine Gael's Simon Coveney tweeted "Very strong rumours about unrest in FF and a potential motion of no confidence tomorrow - hard to know if it will happen or just speculation". Others were tweeting that Fianna Fáil had gathered the 18 names necessary for a no confidence motion in Taoiseach Brian Cowen.

FF meeting postpone public response till 3 today, could be a big day...

related - Cowen joined by another director after golf round
http://www.irishtimes.com/newspaper/breaking/2011/0113/....html

Fight Back Against IMF - Mad As Hell

by eco joe

Fri Dec 17, 2010 18:04

http://www.youtube.com/watch?v=eQuFP_KOZus

Grater cheese hath no man...

Sat Dec 11, 2010 10:58

..than that he tighteneth his belt round the throats of the dispossessed.....

...in the national interest.

What happened the cheese???

I believe it went into RTE to pursue a career in forensic political analysis......

...and then the trap sprang...and it lived happily ever after

till it overdid the coke.

Wheres the bloody cheese ?

by Sceptic . - None Whatsoever

Fri Dec 10, 2010 22:55

What about the cheese they promised us for christmas ???

Congratulations on this article

by C. Flower - www.politicalworld.org

Fri Dec 10, 2010 10:44

cassflower.politicalworld at gmail dot com

Congratulations to the authors of this page.

Thanks also to T for the update on the Anglo derivatives, which we've been writing about on Politicalworld.org since the beginning of this year.
Any help with our threads, in piecing this together and following it day to day, would be appreciated.

thats the op

Thu Dec 09, 2010 13:07

stabilise the fund-flow so the same parasites can find a fresh artery to sink their canines. No different universe, just business as usual.

Back to the Chicago Boys and Milton Friedman's Latin American economic death-squads. They ALWAYS get bonuses for efficiency. Unfortunately its numerological rather than actual efficiency. a.k.a. creative number-crunching for predetermined projected outcomes. Bankruptcy, liquidation and extraction.

Or as they say in the oil industry, disrupt, contain and control, syphon.

Bonus safe

by John Smith

Thu Dec 09, 2010 10:25

And, after the budget which cripples everyone, AIB is paying out €40 million in bonuses! Great to hear that the banks are still operating in a different universe.

Link:
http://www.guardian.co.uk/business/2010/dec/08/allied-i...ilout

Who has voted for it?

by Pierce Farrell

Wed Dec 08, 2010 21:23

Out side of the government TDs and the two infamous independents from Munster who has voted for this budget. And as interestingly, which TDs abstained?

Re: PRESENT SITUATION HAS A LONGER HISTORY AND LONGER RESISTANCE

by T

Wed Dec 08, 2010 18:29

>>For to whom are they calling? ......To the mass of unionised workers, to which they have virtually no channels, and with which they have no organisations?

I guess it is to the mass of unionised and non unionised workers but as you correctly point out there are virtually no channels or orgs and that gets to the heart of the matter in that it is the propaganda bubble that we all live in, is by far and away the most useful and effective weapon that the capitalists have and use it very effectively to spread outright lies and distored information which results in the population regularly acting against its own best interests.

PRESENT SITUATION HAS A LONGER HISTORY AND LONGER RESISTANCE

by Diarmuid Breatnach - Personal Capacity

Wed Dec 08, 2010 17:54

Thanks for this comrades -- it is useful to have a timeline account. However, there is a longer history to the situation in which we now find ourselves and also to the resistance of Irish people. One would have to add the freeze on recruitment in the HSE back in November 2006 (?); the big Health demonstration and various hospital protests; ICTU march in February and promise of general strike; number of industrial disputes including Dublin Bus and Civil Servants (Passports Office); etc.

The longer history shows the present situation of the Left in a worse light than might otherwise be the case. If the Left had not already built a network for grass-roots resistance in the unions before then it was clearly time to do so when the trend became apparent (but before the full financial crisis came down). The Left failed to that then and is still failing to do it now.

In the absence of such a network and in the presence of a trade union leadership that is craven or traitorous, the calls for a General Strike from the Left are ritualistic or sloganeering. For to whom are they calling? Surely not to the trade union leadership? And if not to them, to whom else? To their comrades on the Left, who already agree? To the mass of unionised workers, to which they have virtually no channels, and with which they have no organisations?

"Bailout Agreement may be Void due to Constitutional Issues"

Wed Dec 01, 2010 19:27

Two excerpts from bailout statement made by Pat Rabbitte TD made on November 30th 2010:

"The Constitution is our Primary legal instrument and is based on Natural Law, which means that it is antecedent to positive law or superior to all man made law enacted by the Oireachtas. The Government can not circumvent the provisions in this document and therefore is bound to adhere to their obligations – any measure passed in contravention to the Constitution is void and unenforceable."

"Article 29.5.2° “The State shall not be bound by any international agreement involving a charge upon public funds unless the terms of the agreement shall have been approved by Dáil Éireann.”

Related link: http://www.oneshot.ie/narrative/comments-on-irish-polit...ssues

terminology

by Mike Novack

Wed Dec 01, 2010 17:35

"senior" vs "junior" debt (what does this mean)

Senior bonds are those of an issue before some later issue which is now junior to the first issue. This is exactly like a 1st mortgage, 2nd mortgage, 3rd mortgage (yikes) etc. but with bond issues an even longer sequences of precedence are possible. Each more senior issue is entitled to get paid in full before the next more junior issue gets anything.

NOT necessarly "the big boys" who hold the senior notes and in fact were this the case and it were just the "little fish" at risk of being left holding the bag I'm not sure we wouldn't be seeing a different scenario. Strong pressure from the fat cats to have all the bondholders made good implies that THEY (the fat cats) hold a lot of the junior debt.

OK, I think I need to explain a bit more. The serious money to be made with risky debt isn't from the higher interest this debt carries but from the signifcant rise in price of this debt if the risk gets reduced. So yes indeed, fat cats do trade in risky debt and then work toward that end. The super safe debt issues aren't held to make money directly but as a safe haven for funds when you suspect other investment alternatives will head south and then as a source of funds to reinvest in stocks, etc. when they think the market has bottomed out. So yes the fat cats have senior debt holdings of the most credit worthy borrowers too but that's how they would be using them.

Plain & Simple

Tue Nov 30, 2010 06:14

Each individual TD (elected representative) needs to be informed ASAP and in no uncertain terms by the voters -- i.e. well in advance of December 7th -- that any of them who votes in a way which supports the multi-billion, interest-carrying (and crippling) IMF loans that are to be used to bail out the bankers, in connection with their massive, self-inflicted gambling debts, which nobody anywhere seems to know the full size of, will most definitely be "shown the door" at the next general election: which is now only a matter of weeks away apparently.

And, that this will happen regardless of which party (or no party) that they belong to, and regardless of what position they hold (or do not hold) in the present government.

It needs to be "principles before parties" regarding this extremely important issue, and the "political parties" need to stick their "party whips" where the money stuck his nuts, and hopefully leave them there for the rest of time.

And, if needs be when the time comes, it would be infinitely better (in my view) not to vote for anybody at all at the next general election, than to vote for a spineless traitor who proves their treachery and treason by their own hand on December 7th: assuming that is in fact the day our "elected representatives" will be voting on this particularly threatening social issue.

Get The Names

by Wilberforce Onions

Mon Nov 29, 2010 12:29

The budget vote is on 7th december - somebody please get the voting record of how every td - name and constituency - votes

Then publicise it

Then publicise it again during the next general election

they'd be

Mon Nov 29, 2010 10:00

the big boys.They'd look on D Desmond and d O'Reilly and the likes as peasants.Serious wonga.I'd imagine there is more than a shekel of weapons industry and oil cash.Plus the usual Goldman Sachs(hello Peter)Rotschild, Mellon heir bullionaires. By now I'm sure the coke and smack mafias are linked in for laundry duties.
In short, the decendants of the dynasties that have been carving the planet into stake(sic) pie for accumulated centuries.Lots of it would be tied in knots of diversionary false identity shell companies.These people dont want the fame, just the fortune.And they manufacture their own 'god fortune' as surely as they manufacture the compliance and abetting of 'our' watchdog(ha ha ha)media.

WHO?

Mon Nov 29, 2010 03:27

Who exactly are the 'senior bond holders'???

Anglo Interim Report for 2010

Sun Nov 28, 2010 22:55

In the Anglo Irish Bank interim report on page 46 section 16, titled 'Derivative Financial Instruments' you will see in the table that Anglo had a derivatives instruments on their books and they come to a notional value of €167 in 2009 and €184 billion in 2010 which shows that they were still ramping up these reckless instruments to the value of €17 billion in just one year whilst they were in the midst of the crisis.

The official story so far seems to be that the ECB had been keeping the Irish banks solvent since Sept of this year as speculated by Prof. Morgan Kelly, and stepped in to call a halt to this because there was no end in sight. But now it turns out that they have stepped into to try and deal with these derviatives and goes so way to explaining why all 27 members of the ECB rushed off to the meeting today in Europe.

Anglo Irish Bank Interim Report for 2010. See table on page 46. Sec 16. 1.32 Mb