Tuesday 17 January 2017

Colum Kenny: Where have all those billions gone?

It is a legal obscenity to allow the chancers whose recklessness got us into this mess to hide behind privacy laws, writes Colum Kenny

Published 05/09/2010 | 10:04

SO THEY disappeared into thin air? All those billions that Irish banks lent to golden circles? Taxpayers are being given the mushroom treatment. Kept in the dark and shovelled manure, while this Government sinks Ireland in debt for decades.

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Where did the money go that our banks borrowed and lent so recklessly? The money that taxpayers are now being forced to replace through Nama and other forms of banking subsidy. I am not an economist, but I would like to know. Those billions are still out there, somewhere. They were not burned in a barrel. Citizens should be told clearly where they went and who got them. The Government is being too coy.

And now they want to tax us for using ATMs to withdraw what cash we have left. As if paying billions for bank losses was not enough. Why did Fianna Fail and the Greens not just let Anglo go bust, and let its investors suffer the consequences of their reckless freemarket risk?

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