Saturday 17 March 2018

Gene Kerrigan: Yet another cynical let-off for the elite

Circular 28/2009 is proof we're not in this together -- big shots always find loopholes, writes Gene Kerrigan

Gene Kerrigan:

Whatever you were doing the day before Christmas Eve, the chances are you weren't reading Circular 28/2009 from the Department of Finance. Which means you missed a little sweetie of a document.

In these perilous times, the Government is embarked on controversial policies -- and it tells us cover stories to get us to tolerate those policies, knowing how grudgingly we do so. For instance, the policy of deflating the economy, slashing services, jobs and wages, has a cover story. This tells us "we're all in this together", and we must "share the pain".

The policy of propping up zombie private banks, at the cost of countless billions from the State, needs a cover story, too. This one is that we must give the banks billions in order to "get credit flowing", which will "kick-start the economy" and create jobs.

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