Fianna Fail priorities lie with rich friends
Published 02/03/2010 | 05:00
Over the past 10 to 15 years, bankers and property developers in this country have really enjoyed the high life.
Banks loaned developers obscene sums of money to buy land and build houses. In a mutually beneficial arrangement, developers charged exorbitant prices for new homes and banks agreed to loan these same exorbitant amounts to unfortunate buyers. And so this cycle of greed continued, making them all very wealthy.
But then the wheels came off, as every economist in the country had been warning they would for 10 years.