Questions and Answers Heckle - The Crash

richard bruton, jim power, nell mccafferty and mary hanafin

Hanafin is rightly saying that people just don't want to buy bad debt, no matter how the package is tweaked.

Who's your man, Brain Mooney ?? He thinks we are in a good place with such a low debt-GDP ratio for a long time but we have an enormous personal debt burden that we never had before either.

And rakes of that is in houses making us a very diverse, flexible, adaptable economy yeah right.

Gawd almightly

Bruton is in command - so is Power

Nell is pissed and Hanafin is totally and utterly out of her depth - her mission is to confuse and bullshit - absolutely pathetic and is so totally symptomatic of Fianna Fail.

Edo wrote:

Gawd almightly

Bruton is in command - so is Power

Nell is pissed and Hanafin is totally and utterly out of her depth - her mission is to confuse and bullshit - absolutely pathetic and is so totally symptomatic of Fianna Fail.

Right on, brother.

tonys wrote:

Edo wrote:

Gawd almightly

Bruton is in command - so is Power

Nell is pissed and Hanafin is totally and utterly out of her depth - her mission is to confuse and bullshit - absolutely pathetic and is so totally symptomatic of Fianna Fail.

Right on, brother.

Sorry Bud - but for fecks sake Hanafin? - are yis mad - she is being crucified - despite being as protected as she is by Bowman - it is embarrasing.

Edo wrote:

tonys wrote:

Edo wrote:

Gawd almightly

Bruton is in command - so is Power

Nell is pissed and Hanafin is totally and utterly out of her depth - her mission is to confuse and bullshit - absolutely pathetic and is so totally symptomatic of Fianna Fail.

Right on, brother.

Sorry Bud - but for fecks sake Hanafin? - are yis mad - she is being crucified - despite being as protected as she is by Bowman - it is embarrasing.

Beauty, they say is....or is that love?

Hanafin looks way out of her depth. Nell is talking the most sense and that's not saying there is sense being talked

O God I felt a gag in the throat coming on when Hanafin told us that it was all Wall Street's fault that we're in deficit by 8 billion and in need of shit-proof paddles. And when Bowman turned to her and said "Bruton's economic analysis all those years turns out to have been worth heeding" and she replied "No, anyway that wasn't the question."

Is Nell McCafferty drunk?
She seems like she could be.

tonys wrote:

The only significant thing said by anyone so far was by Bruton the lesser when he said he was available, very statesmanlike, although whether to help with an economic plan or for a job in FG I’m still not sure, any thoughts?

Did anyone else hear that? I was under the impression that FG had no interest in a Tallaght Strategy Part II ... or do you think he was referring to Enda's job?

Auditor #9 wrote:

tonys wrote:

The only significant thing said by anyone so far was by Bruton the lesser when he said he was available, very statesmanlike, although whether to help with an economic plan or for a job in FG I’m still not sure, any thoughts?

Did anyone else hear that? I was under the impression that FG had no interest in a Tallaght Strategy Part II ... or do you think he was referring to Enda's job?

Yes, a bit of a change from last week, but cometh the hour, cometh the man (for FG) maybe.

tonys wrote:

Auditor #9 wrote:

tonys wrote:

The only significant thing said by anyone so far was by Bruton the lesser when he said he was available, very statesmanlike, although whether to help with an economic plan or for a job in FG I’m still not sure, any thoughts?

Did anyone else hear that? I was under the impression that FG had no interest in a Tallaght Strategy Part II ... or do you think he was referring to Enda's job?

Yes, a bit of a change from last week, but cometh the hour, cometh the man (for FG) maybe.

But FF doesn't need FG does it? FF are in control - what would they need FG for? There will be seriously bad times ahead now but FF can get us through it and back into surplus in a year or two can't they?

Yeh Nell was sauced up alright. She wrecks me head that one.

What's all this shite from Hanafin about getting the first warning signs in July ? There was a thread on P.ie about 18 months ago about warning signs. Internet posters knew, but the Govt. didn't ? What utter bullshit.

Honest gov. it is all the fault of the Greens. Everything was fine until they entered government.

tonys wrote:

Well, stormy seas, I don’t know how good he would be at the pumps but Richard got more than his share of the family brains and that’s always useful. Right now I’d be in favour of using all the sound heads we have at our disposal, we can worry about who gets the credit later.

Here's one for you - wouldn't it be wise to start limiting junkets and helicopter rides to here and there and all that FROM TODAY? The public are seeing this junket thing more and more in the papers and I wouldn't be surprised if FF don't get a serious pasting from this. Seriously, people are losing their jobs (in teaching), their places in CE schemes, their LIVES and meanwhile Fás treat themselves to €12k of a junket weekend to address the mess - they ARE the mess - or part of it. Much more of this and you might be asking FG to protect you from the pitchforks

One would assume was Richard was doing in saying "I am available", is upping the pressure on the Government in the public opinion stakes. Any offer would obviously be rejected. However, with public opinion heading the way it probably is people might be asking "Why should it be rejected".

It is patently obvious that the Government doesn't know what it is doing and that FG has no more idea. The idea of taking advice from David McWilliams is terrifying (look at his cv).

There is a need for them to call in a few sensible heads, including some from Sweden, who managed their property bust there well.

They also need to come out of hiding and debate the economy in the Dail.

I was impressed by Richard Bruton last night and this morning. I think he knew banks were going to have to be bailed out last night or face bankruptcy so he sent the message to Government that FG supported swift and drastic actionl.

I thought Jim Power did a serious job on Hannafin when he attacked her on the long term outlook for the economy. Her debating technique of reeling off the names of small individual successes was obliterated by the "let's talk brass tacks" attitude of Power. I was a fan of Hannafin and admired her courage in stepping up to the plate in difficult circumstances but I think she needs to be a bit more discerning about what she is competent to talk about. Pat Carey would have been better.

Nell was off the wall but her central point that they didn't know jack and that nobody had made a hue and cry over regulatory issues over the last few years because they didn't know their arse from their elbow was correct. The point that the Hedge funds were goin gto have to redeem shares the next day was pertinent and it was funny how Power did not address it. I suppose they did not want to stoke the fire if Nell was right - a conspiracy of silence is never a good sign! Is it possible that probable hedge fund sell offs made the Governments early morning move inevitable? I was a bit disappointed with Nell though - a bit off colour in my book.

As a matter of interest, would better regulation in this country have had us sitting pretty at this stage or would we still have been subject to the vagaries of the rest of Europe's banks?

Zhou_Enlai wrote:

I was impressed by Richard Bruton last night and this morning. I think he knew banks were going to have to be bailed out last night or face bankruptcy so he sent the message to Government that FG supported swift and drastic actionl.

I thought Jim Power did a serious job on Hannafin when he attacked her on the long term outlook for the economy. Her debating technique of reeling off the names of small individual successes was obliterated by the "let's talk brass tacks" attitude of Power. I was a fan of Hannafin and admired her courage in stepping up to the plate in difficult circumstances but I think she needs to be a bit more discerning about what she is competent to talk about. Pat Carey would have been better.

Nell was off the wall but her central point that they didn't know jack and that nobody had made a hue and cry over regulatory issues over the last few years because they didn't know their arse from their elbow was correct. The point that the Hedge funds were goin gto have to redeem shares the next day was pertinent and it was funny how Power did not address it. I suppose they did not want to stoke the fire if Nell was right - a conspiracy of silence is never a good sign! Is it possible that probable hedge fund sell offs made the Governments early morning move inevitable? I was a bit disappointed with Nell though - a bit off colour in my book.

As a matter of interest, would better regulation in this country have had us sitting pretty at this stage or would we still have been subject to the vagaries of the rest of Europe's banks?

well, the contagion has spread to almost all financial institutions (no doubt some geek will google it and discover that the 3rd biggest bank in moldova or someone else has made gains over the last few months).

Auditor #9 wrote:

Here's one for you - wouldn't it be wise to start limiting junkets and helicopter rides to here and there and all that FROM TODAY? The public are seeing this junket thing more and more in the papers and I wouldn't be surprised if FF don't get a serious pasting from this. Seriously, people are losing their jobs (in teaching), their places in CE schemes, their LIVES and meanwhile Fás treat themselves to €12k of a junket weekend to address the mess - they ARE the mess - or part of it. Much more of this and you might be asking FG to protect you from the pitchforks

In teaching? Really? I doubt the patron saint of teachers would have stood for that.

AfricanDave wrote:

Is Nell McCafferty drunk?
She seems like she could be.

She always is.

cactus flower wrote:

It is patently obvious that the Government doesn't know what it is doing and that FG has no more idea. The idea of taking advice from David McWilliams is terrifying (look at his cv).

There is a need for them to call in a few sensible heads, including some from Sweden, who managed their property bust there well.

They also need to come out of hiding and debate the economy in the Dail.

There was a UCD economist on Prime Time last night talking about the precedent which Sweden has set, and how we shouldn't be offering the current guarantee, but should be following their lead instead. (Some banks should fail was his general point.) He compared our current trajectory with Finland in the 80s, which didn't end too well.

Yes. That was Professor Morgan Kelly of UCD. I sensed he could scarcely beleive the stupidity of Brendan Keenan from the Indo!
Prof Kelly has been pointing out that the Emporer is bollock naked for at least 2 years now, but what the fuck would he know?