Sunday 25 March 2018

NAMA is about saving TDs' skins

WE NOW know, thanks to the Freedom of Information Act, that NAMA was never going to do anything for the flow of credit but was all about the fear of failure and its possible consequences, which could only be guessed at.

Perhaps the real reason that our legislature could not allow the banks to fail was that TDs were fearful for their own future, because people might realise that they, too, were not essential to our well-being.

Self-preservation is a wonderful concept in nature, but when it threatens the overall system, as in a cancerous cell, the one is allowed to die in favour of the whole.

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