Quote Originally Posted by simonj View Post
The more I look at this, the more it will go on and on and on.
Unless we elect people with the political will, the nice arrangement between speculators/bondholders/banks - the civil service and the elected government will carry on.

These 'unprecedented powers ' of The Credit Institutions (Stabilisation) Bill 2010 is a scam.

Its only a matter of time before a Ray Burke mkII gets in and starts dumping taxpayers money into a Seanin Fitz mkII bank in a speculative but 'compulsory' manner to allow the creation of even more currency, increasing supply that needs to be dumped out on cheap credit, and after RBII gets a directorship and SFII earns the biggest bonus in the world.

The whole thing stinks, its a way of creating more income for speculation from everyday people, rather than using that same money for schools and health care, child services and public assets like roads and public transport.

Its a heist.

We need to be Icelandic in our outlook, and just say enough of this BullS - chop off the commercial banks, speculators banks should be shut, mortgage transfers into state bonds for people on the family home creating a council house essentially, for the money we put into NAMA we should be able to protect peoples homes - screw the bond holders, and the IMF/ECB as well for that matter, they don't even live here.

This is our country, and this is our future. To let a couple of political hacks like Kenny and Noonan decide our future without questioning their motives or abilities is nuts, they are out of their depth and so are the Dept of Finance Mandarins who got us into this mess are still there.

The notion that so-called default will be a disaster is crap, in Iceland things still work - people are not starving on the streets - their social services are probably better than ours FFS.

The fundamental question still remains,WHY are WE paying for bad debts, why are pensioners who built the country we have taking cuts after doing their bit, WHY are services for kids, our future, being cut bad - because of the greed of a few, and the incompetence of our political caste system.
It does not need to be that way, rather than bailing out the speculators, we should be creating a future - not destroying it
Icelanders dole was cut so bad In face of hyperinflation that they had to q for slicepans. Prior to 2008 their infant mortality rate was the lowest in the world. Free poor man comes to mind. But the imfs gone now for them.

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