The Late Debate 24-03-2010

[Baron von Biffo]

Discussing inter alia, the Anglo pay rises.

[Baron von Biffo]

Connick & Creighton on the panel.

[Rich]

Discussing inter alia, the Anglo pay rises.

As an aside "inter alia", I so hate that phrase.

[Baron von Biffo]

As an aside "inter alia", I so hate that phrase.

What did it ever do to you?

[musashi]

One expects Creighton to spout her usual guff.

[Baron von Biffo]

Connick expects uo to believe that he doesn't know junior ministers are paid more than back bencher's. Does he think we're thick?

[Rich]

What did it ever do to you?

I keep getting letters in work peppered with the phrase, I still don't understand why it is used. I have even googled it a couple of times and you can just say "among other things".

So, to conclude, inter alia it should be clear that I hate the phrase "inter alia".

[Rich]

Connick expects uo to believe that he doesn't know junior ministers are paid more than back bencher's. Does he think we're thick?

He is a pretty successful businessman down here in New Ross, it might be closer to he may not care.

[Baron von Biffo]

Kinsella is right, keeping people at work should have been the government's priority.

[Rich]

Kinsella is right, keeping people at work should have been the government's priority.

Without question. There may be a debate in how it is done, but it has to be priority 1. The actions of the Government do not bode well in this area.

[Lapsedmethodist]

Does any financial genius here understand what is meant by " putting in millions " into the banks ? Is it not a case of guarantees rather than real money?

[Baron von Biffo]

Without question. There may be a debate in how it is done, but it has to be priority 1. The actions of the Government do not bode well in this area.

The deflationary budget is bringing about the reverse.

[Rich]

Does any financial genius here understand what is meant by " putting in millions " into the banks ? Is it not a case of guarantees rather than real money?

In addition to the guarantee the banks also need to be recapitalised. They do not have the reserves that allow them to start loaning again. In addition the Central Bank/Financial Regulator are tightening the reserve requirements further so they will need even more money to start lending. At this stage many of the banks need 4-6 billion.

They are also getting money for the loans that they are selling to NAMA. While this is not on the State Balancesheet, it will have to be borrowed by the Government.

[Rich]

The deflationary budget is bringing about the reverse.

Yep - and the money going into the banks will suck money from the State for many years to come.

[Lapsedmethodist]

In addition to the guarantee the banks also need to be recapitalised. They do not have the reserves that allow them to start loaning again. In addition the Central Bank/Financial Regulator are tightening the reserve requirements further so they will need even more money to start lending. At this stage many of the banks need 4-6 billion.

They are also getting money for the loans that they are selling to NAMA. While this is not on the State Balancesheet, it will have to be borrowed by the Government.

So why shouldn't people doing this complicated sh*t get a pay rise ?