Ireland Bankrupt Part Two

Telegraph: Interesting article on why Ireland has gone belly up, at the end of the day the Irish drank to much of the black stuff; good but there is a cost; as the article states the following, “ the Irish know they contributed to their own downfall through greed, recklessness and overindulgence. ”. At the end of the day the middle class and the poor will have to pay for the banks, the bankers will have done a runner our found tax loopholes. The Irish boom was founded on debt, and that debt has to be paid, one can argue that the Irish Banks have not told the whole truth about their debts, that’s goes for all banks, they only own up when they come to the Government and say they need money or will be closed tomorrow. In one way Marx was right, in this Marxist Manifesto he stated that the employer would grind down the worker, in sense the banks have fleeced the people. The bankers have missed the point, they should create wealth for the long term, not quick dollar and then bankrupt the nations, not great strategic thinking by the banks. The Irish Government should have let the banks go under, and used the money to help the customers, otherwise one can guarantee that in time the bailouts will be used as bonuses for the bankers, is the Irish Government still on the good black stuff? Read of the Day.