bailout 21 November 2010
My experience at the Haydock races yesterday might well be a good example of how the Irish got into the financial mess we’re in at present. I spent £42 on bets and didn’t have any winners but, rather than feeling that I had lost £42, I calculated that I hadn’t won £688. And it seems to me that what the Irish banks did was to spend the ‘£688’ they didn’t have in lieu of winning it and therefore lost that rather than just the original £42.
The bailout the government have applied for means that every worker in the country will effectively owe c1million euro each and let’s not make any mistake the IMF is coming in to protect the loans already out by Irish banks, ie protecting/bailing out the money/loans, not us citizens…
GRIM
