That seems to be the way the world's financial system is run no matter what country gets into financial trouble. Would it not be better for Ireland to bail out of the EU, re-create its own currency, take its lumps based on its own criteria and avoid the IMF/EU monies and influence on their economy? Again, why are the bondholders bailed out at the expense of the pensions, wages and welfare of the majority of the people of Ireland?
The Irish banks created the financial crisis but all the Irish people must pay for it.
Below is an article about the Irish bailout from The Daily Bail:
Read the entire article here
« Rothschild Bank AND Goldman Sachs Are Both On The LIST Of Bondholders Getting U.S. Taxpayer Billions In Irish Bailout »
Complete list of bondholders inside, and BBC footage of Sir Eveylyn de Rothschild. The deceased Guy de Rothschild, pictured, no longer exploits the masses for banking profit, but his progeny carry on his legacy effectively.
Scroll down for VIDEO of Sir Evelyn de Rothschild...
Guess what, Ireland. Brian Lenihan and Brian Cowen just sold you down the IMF river. Why? To bail out bank bondholders and giant European banks. Of course! That's what governments are for these days, apparently. And they'll tell you that the bailout policy is all for you own good. And for little old ladies and pensioners and orphans. Just don't tell that to the cancer patients.
Check it out below -- Guido Fawkes' blog has acquired the list of Anglo-Irish Bank's bondholders.
Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators.
- The Irish people are taking losses that should rightly have been shouldered by bondholders.
Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults.
- That is the risk investors take.
So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about: