Anglo has reported more enormous losses which will fall on the taxpayer for no good reason except that Lenihan decided they should. Today, Anglo broke all records for disastrous performance, with losses of €8.2 billion for the 6-month period. That’s as much as all the money ever spent on building motorways in the entire history of the country. Thrown away in six months by the Anglo scam.
This madness has to end. We have to stop rescuing the people who made risky investments in a failed bank. We have to force gamblers to take responsibility for their betting.
When the government says it only wants to minimise the cost to the taxpayer, it lies. To save the taxpayer the most money, they could dump the bondholders, force them to take their losses and move on.
That’s the only sane and rational way forward for this country. Anything else is theft.