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Friday, May 29, 2009

Seanad debate on NAMA

This week the Seanad had a debate on NAMA, the Government's bail out bank! Watching this saga unfold makes me wonder does anyone really know what is going on. The minister and his officals remind me of a WW2 movie where the captain and crew of a U-boat are being chased by a destroyer. The crew dive deeper and deeper to avoid the dept charges, the hull of their U-boat groans and creaks but no one really knows if they are going to survive.
The false optimism of the minister is as reassuring as the nervous smile the captain gives his crew when they realise they have not been blown to bits by the latest round of explosions.
Brian Cowen tells us that the economy will grow again in 2011, if my house was worth 350,000 euro when Brian Cowen was re-elected in 2007, when does he think it will be worth that again? The reality is no one knows the answer.
In any case, Brian Cowen and Bertie Ahern are reponsible for increasing our national debt by more than 100 billion since their re-election, not the best lads to give financial advise. We are buying billions of junk from the banks, but no relief for the taxpayer!
These debates were on tuesday 26/5 both in the seanad and the finance committee, for access to the debates, go to the oireachtas website @