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re: bad bank lending at the root

Posted by NW on August 23, 2011 at 17:07:17:

In Reply to: re: misinformation posted by jj on August 23, 2011 at 13:45:44:

We would not have the deficit we have if the banks had been kept under control. The deficit is due to false income apparently flowing endlessly into the coffers allowing auctioneer politicians to swan around the Galway tent and telling us to commit suicide if we asked for a bit of cop on. The only trouble is that we now have to pay taxes like a real country - just that most of this is due to repay bad lending and the results of that bad lending over a number of years. The layoffs in the council are a direct result of the need to now balance the books. Just like the weeds we had in the 80 s.

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