Who are these FF supporters?

cork said:
How much would it have cost the state if Anglo was wound up?
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The $4bn question :p.
Seriously though, this deserves a thread on its own in the GF Debates. I presume everyone with deposits at the bank would have lost them to pay the bank's creditors? There would have been a run on the other banks with people forming nice, orderly queues at every branch :rolleyes:. Plenty trips North to go bank shopping I'd imagine. ATMs would be empty, people wouldn't get paid. The IMF would probably be in by now which may not be a bad thing...
 
Seriously though, this deserves a thread on its own in the GF Debates. I presume everyone with deposits at the bank would have lost them to pay the bank's creditors? There would have been a run on the other banks with people forming nice, orderly queues at every branch . Plenty trips North to go bank shopping I'd imagine. ATMs would be empty, people wouldn't get paid. The IMF would probably be in by now which may not be a bad thing...
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That would have all happened Oct/Nov of 2008. The collapse of the country's banks would have caused social unrest etc, etc...
However, would we be in a better position now, in Feb 2010, if that had happened? Right now, the banks are still far from safe, except now the tax payer is directly liable.
How much worse is this going to get? How long will the recovery be now?
 
Hold your horses, guys. Letting Anglo go to the wall is a very different issue from letting the banking system collapse. Lenihan claimed that Anglo and INBS were 'of systemic importance', but I'm not so sure at all, given the deposit protection schemes that were already in place (albeit with limited thresholds). If Anglo had been let go in Sept 2008, with the deposit protection scheme in place up to a threshold of 100k (iirc), what would have been the cost to the State?
 
Complainer said:
Hold your horses, guys. Letting Anglo go to the wall is a very different issue from letting the banking system collapse. Lenihan claimed that Anglo and INBS were 'of systemic importance', but I'm not so sure at all, given the deposit protection schemes that were already in place (albeit with limited thresholds). If Anglo had been let go in Sept 2008, with the deposit protection scheme in place up to a threshold of 100k (iirc), what would have been the cost to the State?
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Presumably Anglo would have had to pay it's debts from assets (mainly deposits). The government would then have to pay the depositors the shortfall under the deposit guarantee?
 
Complainer said:
Hold your horses, guys. Letting Anglo go to the wall is a very different issue from letting the banking system collapse. Lenihan claimed that Anglo and INBS were 'of systemic importance', but I'm not so sure at all, given the deposit protection schemes that were already in place (albeit with limited thresholds). If Anglo had been let go in Sept 2008, with the deposit protection scheme in place up to a threshold of 100k (iirc), what would have been the cost to the State?
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The problem is we don't know and any attempt (either the figures Cowen came up with or the opposition) is pure speculation.
 
What I don't get is why the people voted for FF for the last 10 years, when "Buy everyone Bertie" was in charge and their policies were clearly damaging the country, are now saying they won't vote for them again, when their current policies are much better than what is being offered by the opposition.

If you were stupid enough to think Bertie was great then blame yourself but cast you vote in the next election based on policies, not deflected anger at your own stupidity.
 
Purple said:
What I don't get is why the people voted for FF for the last 10 years, when "Buy everyone Bertie" was in charge and their policies were clearly damaging the country, are now saying they won't vote for them again when their current policies are much better than that is being offered by the opposition.

If you were stupid enough to think Bertie was great then blame yourself but cast you vote in the next election based on policies, not deflected anger at your own stupidity.
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Well said.
 
Purple said:
If you were stupid enough to think Bertie was great then blame yourself but cast you vote in the next election based on policies, not deflected anger at your own stupidity.
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Bertie at least played a significant role in the Peace Process.

The manifestos of other political partys at the last election were worse.

Niether FG or Labour were any better.
 
Purple said:
What I don't get is why the people voted for FF for the last 10 years, when "Buy everyone Bertie" was in charge and their policies were clearly damaging the country, are now saying they won't vote for them again, when their current policies are much better than what is being offered by the opposition.

If you were stupid enough to think Bertie was great then blame yourself but cast you vote in the next election based on policies, not deflected anger at your own stupidity.
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I'm certainly with you on that.

People voting in that manner need to realise that:

A) They were too stupid to spot poor policy at the time

B) Are probably too stupid still
 
DerKaiser said:
I'm certainly with you on that.

People voting in that manner need to realise that:

A) They were too stupid to spot poor policy at the time

B) Are probably too stupid still
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I think that few people use policy as their basis for voting.
 
Purple and Complainer agree on something!!! Brendan, is there anywhere on the new system where we can click to thank God?
 
Lex Foutish said:
Purple and Complainer agree on something!!! Brendan, is there anywhere on the new system where we can click to thank God?
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...it's not the first time that's happened you know!
The shame of it is that I'm on his ignore list (I won't bore you with the details) so he won't see it!
 
Purple said:
...it's not the first time that's happened you know!
The shame of it is that I'm on his ignore list (I won't bore you with the details) so he won't see it!
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Next time you're in Cork, I'll take you to The Long Valley and you can tell me all about him. ;)
 
cork said:
Bertie at least played a significant role in the Peace Process.

The manifestos of other political partys at the last election were worse.

Niether FG or Labour were any better.
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Parties in opposition promise the sun, moon and stars to get into power so I wouldn’t treat their manifestos while in opposition as being carved in stone. What can be said is that the last Labour party minister of finance (and the last non-FF one) did a good job, far better that Bertie or Brian, or Charlie in his later budgets. I do think that it would have been very hard for any government containing Labour to break Berties consensus/social partnership political model that has eaten into the core of the institutions of state like a debilitating cancer.

What we are getting now is economic and political chemo-therapy; it might make us sicker in the short term but it will stop us dying in the longer term. The problem is that the government knew what the prognosis was 5 years ago but didn’t have the balls to start the treatment.
 
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