8bn for the banks

Not impressed with Cowen. He's been trying to duck under the skirts of the 'social partners' since he took office. Can't see him lasting as the crisis deepens this year.

Still impressed with Lenihan. I think he is doing well considering the difficult situation he has been handled.

Headhunt - the private sector. Forget it, all appointments in Ireland are political. Anybody not part of that political class would be quickly marginalised.

Quote Damian85) However, this position at the moment requires someone with excellent banking knowledge, technical accounting expertise, and foresight ability to deal with a crisis that has very little precedence to go by. End Quote Damian85

hate to sound cynical ,but I think the banks require someone like that too...

Perhaps we should have a meritocracy in this country.

Good debate folks! I'm really annoyed with having to re-finance the banks.

Why wasn't a good bank created from the deposits of AIB and BoI, IL&P etc....? Is that possible for the government to take over all banks (seeing their share price is so low) and groups all deposits into a single fund i.e. good bank? Of course my lack of knowledge doesn't allow me to understand what would happen with the accumulated bad debt....at a guess I reckon it would be written off? So the government would be in a win win situation i.e. save deposits, write off bad debts which in turn would protect their builder friends?

BTW, cowen & linehan are the wrong people. Don't get me wrong I'm not a politically minded nor do I have any serious party aleigens BUT linehan is a solicitor with no financial background and remember cowen along with haughy (sorry I mean ahern...fraduan slip) were the very people who presided over this shambles of a government for the previous 4 - 5 years. Surely if the people are calling for a clear out of the fraudulent/incapable within the banking institutions then we the people should be doing the same at government!!

from listening gto all kinds of experts and commentators etc non seem to be saying the 8bn will work.
There are 3 main thoughts that i can see.

1. let them fail.
2. its not enough.
3. make a good bank and a bad bank.

No one seems to be in agreement with the 8bn, so why are they doing it. Surely they must ask themselves why is no one going for the 8bn.
there is for and against everything, levies, cuts, lisbon etc but there is no one in favour of the 8bn (im not talking about re-cap, just the amount).


why are they doing it?