Tuesday 6 December 2016

Gene Kerrigan: O'Dea exit not part of the Master Plan

With all eyes on the Dail, a bank dodged paying back €280m it owed the taxpayer, writes Gene Kerrigan

Published 21/02/2010 | 05:00

WOW, that was some big story of the week, wasn't it? You know what I'm talking about? Low standards in high places, and all that. (A reader has just emailed to say: "You mean the Willie O'Dea resignation, don't you?". Eh, no sir.)

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No, the story of the week was far more important than that fleeting matter. Yesterday, we -- the people -- were due to be paid a small stipend from the Bank of Ireland. A mere €280 million or so, delivered to the exchequer. And guess what? The bank didn't pay up. Not to worry -- everything's going according to the Master Plan! We are, for whatever reason, remarkably calm about what's going on.

The ransacking of the economy; the transfer of huge wealth from the citizens to the bankers and their bondholders. The protection of the rich; and the placing of the burden on the poor, the disabled, the workers, the middle classes and credit-starved small businesses. But, hey, the banks are being looked after. And eventually, in some as-yet-unexplained way, this will "kickstart" the smart economy and before you know it we'll all be back buying five-grand handbags.

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