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re: bad bank lending at the root


Posted by Daz on August 26, 2011 at 12:10:53:

In Reply to: re: bad bank lending at the root posted by jj on August 26, 2011 at 08:32:58:

Unions and IBEC aren't to be 'blamed' for anything (on either side).

Govts undertake govt decisions, and we hardly had fifteen years of huge industrial unrest from the unions to force those govts into the decisions they took.

Yes, unions probably bear some moral complicity in meeting IBEC under the FF umbrella and buying into the boom- believe me, public sector union members are far from satisfied at the performance of their union reps at the highest level- but the point remains that, although on either side of the industrial relations table there was collusion to the detriment of market reality, the responsibility for the fuelling of the boom and the ensuing economic carnage lies with the entity in power- the FF govts under messrs Aherne and Cowen.

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