Let us go back in time a little, to October 2008.
That was when Brian “Yehudi” Lenihan announced to an astonished nation that his €460 billion guarantee was the cheapest bank bailout in the world, compared to the UK and the USA where, according to Lenihan, billions and billions of taxpayers’ money are being poured into financial institutions.
Now fast forward to April 2011, two and a half years — and €100 billion in aid – later, and look at the state of these banks which were supposed to be saved by Lenihan’s cheapest ever bailout. The Irish people are crushed under the weight of a debt they did not incur, and the banks are now rated by Moody’s as junk.
Two of the institutions that availed of Lenihan’s largesse — Anglo and Irish Nationwide — will never operate as banks again. Bank of Ireland barely survives, and AIB threatens to end up as big a basket case as Seán Fitzpatrick’s disastrous ego trip of a non-bank. Fingleton, meanwhile, chuckles smugly as he feels the heft of his giant pension in his arse pocket, paid for by the public purse.
So let us ask precisely what Lenihan’s bailout achieved. Did it do as he promised and free up the banks to get back lending?
No. Credit is harder than ever to find.
Did it stabilise the banking sector?
No. There isn’t a financial institution anywhere in the world prepared to advance a penny to an Irish bank. We had to go to the IMF cap in hand for that.
Did it help Irish business?
No. They can’t get an overdraft. Good businesses are shutting down all over the country.
So, when Brian Lenihan beggared the country in the biggest act of treason ever seen in Ireland, while at the same time telling us it was our patriotic duty, who precisely did his actions benefit?
Nobody, apart from international gamblers and the small elite of people within the inner circle who had bankrolled his corrupt political conspiracy for generations.
Today, my friends, Irish banks officially have the status of junk, and you can kiss goodbye to the hundred billion euros that Brian Lenihan and Biffo Cowen poured down the sink in support of them.
That, my friends, is what we elected to be our government.
Lenihan the fantasist and Cowen the cretin between them built on the disaster created by the fool McCreevy and Ahern the unletttered clod who somehow managed to crawl his way into power and destroyed our country for generations to come.
Are you angry yet? Are you furious?
If not, why not?