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Cowen seriously ill ?

valamhic

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T
They did
They taxed investment property to the hilt
But property prices were being pushed up so much that investors didnt care and were prepared to take the chance
But it didnt work out - so why should I feel sorry for them?
Had they won out they wouldn't be subsdising me ..
Tell us the Finance Act and the Section of that Act where they taxed investment property
 

Ted

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No one forced anyone to borrow anything
If people borrowed too much it was entirely their own fault.
Any that's what pushed up property prices - too many greedy bastards over borrowing to try to make a killing. That's why builders built more and more of them. It the demand wasn't there they wouldn't have built them.
Nobody forced the Irish banks to borrow. Yet you see no problem with others being forced to assume their debts.

At least try to be consistent.
 

darkhorse3

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The only way to sort you out is ask you a few questions.

If Jack Reilly Builders is not a limited company and goes burst leaving 500,000 Euros un paid debt

Jack Reilly Builders Limited goes burst leaving 500,000 Euros unpaid debt.

What difference does it make for A) Jack Reilly and B) Creditors C) Shareholders

Answer by A, B and C with one sentence
Very simple
If you are doing business with a Limited company you need to be extra careful and extend no more credit than you can afford to lose
 

darkhorse3

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Nobody forced the Irish banks to borrow. Yet you see no problem with others being forced to assume their debts.

At least try to be consistent.
They had to save the banks to preserve the life savings of everyone in the country who had deposits in them
 
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blue velvet

blue velvet

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This is probably how many people will remember Cowen


Who could forget it. State broadcaster puppets RTE forced to make a cringeworthy apology because they had done a piece on the story, which caused 'embarrassment' to the Taoiseach's Office.

Proof that RTE are State lackeys.
 

Ted

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They had to save the banks to preserve the life savings of everyone in the country who had deposits in them
I had no life savings with the Irish banks.
So why do I have to pay for the savings of others?

Your principle of personal responsibility has come undone.
 

missy

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They had to save the banks to preserve the life savings of everyone in the country who had deposits in them
Anglo wasn't a normal retail bank.
How many ''life savings of everyone in the country'' were there in Anglo ?
 
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darkhorse3

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I had no life savings with the Irish banks.
So why do I have to pay for the savings of others?

Your principle of personal responsibility has come undone.
What if your employers bank accounts would have been lost?
You mightnt be too happy to find yourself unemployed with no prospect of finding a job when most businesses in the country have gone bust
 

darkhorse3

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Anglo wasn't a normal retail bank.
How many ''life savings of everyone in the country'' were there ?
If we didn't rescue Anglo then we wouldn't have been given the finance to save the retail banks
 

missy

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If we didn't rescue Anglo then we wouldn't have been given the finance to save the retail banks
That sounds like cutting off your leg to save your finger.

We should have called their bluff. But Brian & Brian were complete muppets.
The ramifications from Anglo going tits up would have forced the EU/ECB to fund it.

How much were total deposits held in Irish banks in 2007 ?
I'd hazard a guess and say paying up to €100,000 per account would have been a cheaper alternative.
 
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