Crisis Inside The Cowen Government RTE 1...In Running:

Incredible. I can only describe many of Cowens ex-colleagues as vermin. They were part of the same ship, yet abdicate all that went wrong now. I have more respect for Cowen than those on now.

All of them are fully responsible for bringing this country to it's knees along with the banks of course...Thank God that great man Enda Kenny is in charge now. Fine Gael are a breath of fresh air...

A considerable number of people in Ireland had substantial holdings in terms of shares in the main banks . Most of them were doing very well until a couple of years ago when this situation arose .

It might be interesting to know  personal or family holdings for some . The whole episode might have been less atrocious if checks and balances based on sensible regulations had been more rigidly enforced .  But to a large extent everyone seemed to be on the gravy train , and only a wuss was shouting wolf . The Celtic Tiger became exceedingly vulgar and fuelled greed .  Chickens unfortunately came home to roost . Long way back .  Back to basics .

Well said Kelly .........and some advice to OnTheMachine dont take too many big gulps of that FRESH AIR perhaps you might read pgs 26/27 of yesterdays Sunday Indo especially John Drennan, a decent man who tells it like it is....for me last government this government same difference....

did she go back to the teaching job she had on hold for all the years she was a TD

Only saw a snippet or two of last nights program .  One of the ordinary people who spoke ( briefly ) summed up the situation for me , expressing bewilderment that he and his wife and family were going to be attempting to dig themselves out of the mire for years and years . And most of the blame attributable to people in "higher places " .

There were some people crying wolf before events unfolded  , but it was unfashionable and they were effectively being bullied into silence and being branded unpatriotic .

A friend of mine relayed a conversation he had with his nephew ( who is / was a high flyer in banking circles ) about 5 years ago . It stopped me in my tracks ( we were walking our dogs ) as I knew it was 100% accurate as far as  reportage was concerned . Quote " if you knew what the banks were doing with your money Uncle @@@@@@ you would not sleep at night " .

I would at one stage when I worked in financial circles have had some insight into the workings and dealings of some in the financial sector  , my handle on it was not to get involved or advise or guide clients down that path as I assessed it as dodgy .  Would not touch it myself although the spin was "easy money " and those not buying into the party line were fuddy duddies or party poopers . Self assessment mortgages became trendy  , a house of cards  , old values of thrift and  financial rectitude were shunned  , there was a constant pot of gold at the end of the rainbow etc etc . The spivs took over , they were not all in Ireland , they were operating at a more global level , unfortunatley some of the spivs colleagues / friends were in positions to influence policy . Derivatives ,  quantitative easing , leverage ,sub prime transactions  I suspect became the stuff of dinner parties in certain circles , and politicians became part of the mix .  Mud sticks , we all know that , and if you lie with dogs you get fleas .

Total clear out needed , suspect it has happened gradually , "Lest we forget " has to be a motto emblazoned above every financial and political portal .  Scrub the pension and other severance hand outs etc ,  sovereign governments can do that .  Rewards in financial and banking circles were grotesque , and unrelated to ability or good of the country . A bit of humble pie to be eaten , but as usual it is the people towards the lower end of the food chain who will suffer the most .

And there is little most of us can do to help even if the spirit was willing . Its too big a problem for individuals however  , has to be very driven and well organised at a macro level .  Not sure there is an ability in that respect . Could be a rough 10 years or more before there is light at the end of whatever tunnel we are talking about . Hopefully a few clever people with the general good in mind will surface and guide people / countries onto the proper path .

daid mcwilliams was asked for advice and it was acted on by brian lenihan...sadly for us and our childens children he never thought of the bondholder nelement of it and by the time he did  it was too late..

Kavvie you have it right there ...the late BL took some of the advice and ignored crucial elements of McWilliams advice, or perhaps more accurately failed to follow through on the full agenda put before him by David McW..........in any event lets go ahead and appoint the brains of our Finance Dept to the top Auditors job in Brussels ........Fine Gael think he's a geniusover 3 billion euros of a genius......

thats what i meant jay..he ignored it in its totality..he picked the  politically easy bits and left the important bits out...sadly for us..

were* sorry

McWilliams is a spoofer as well and only a celebrity economist. No better than Eddie Hobbs. That they had to even ask him for his opinion is utterly embarrassing and cringe worthy. McWilliams knows which way the wind blows and usually turns to match public opinion like Constantin does as well.

What does everyone make of all the huge pensions that we are paying to Dukes and so many more like Albert Reynolds Mc Creevy Jon Bruton and so many more.....Dukes is getting a further 150k for closing Anglo  I wonder is Ml Noonan getting pensions from a previous life when he let down that lovely family in Donegal......

cowans brother just on tonight with vb. vincent ridiculed him and he looked like he wanted to clock vincent one