"...the biggest Irish joke of them all, which underpinned the bank guarantee in the first place: that if we wanted investors to retain confidence in the creditworthiness of the Irish State, we needed to make sure that nobody who invested in our (private sector) banks ever lost a penny?
The latter decision is the one that sank the country."
That excerpt is from an excellent article by Kevin O'Rourke at Euro Intelligence about the Irish financial disaster.
Misguided government loots the middle and working classes in an unending attempt to bail out a corrupt financial sector. It really is the U.S., and the world, financial crisis in microcosm.
Who coined the term "the Big Shitpile" for the unimaginably huge mountain of derivative debt built on a rotten foundation of bad mortgages? It might have been Atrios at Eschaton. Who gets to eat the Big Shitpile?, asks Atrios, knowing full well the answer, in the minds of our bankster overlords, is you and me. Anybody but them.
Every Irish American knows the Great Famine folk history of starved corpses with mouths stained green from eating grass. What color are their mouths now?
And where is James Connolly (pictured above) now that we so desperately need him? I know, I know, the same place as Eugene Debs -- in his pajamas, blogging anonymously.
No comments:
Post a Comment