TRALEE Public Meeting: "An Alternative to the Bank Bailout"

kerry | anti-capitalism | event notice Tuesday April 20, 2010 18:28 by billy budd - swp

The elite act like an aristocracy of money who just do what they want.
And our only answer must be like the peasants of yesteryear: REVOLT.

Come to a Public Meeting to find out how to start:

Kieran Allen on "An Alternative to the Bank Bailout"
VENUE: Grand Hotel, Tralee
DATE: Thursday April 29th @ 8PM

Presented by the Socialist Workers Party

All Welcome!

According to Brian Lenihan the entire tax take for a whole year is to be squandered on bailing out banks. Our children will be still paying for these hand-outs for decades to come.

In September 2008, Lenihan and Cowen made a fateful decision to guarantee the €440 billion in loans that Irish banks had taken out.

This government guarantee ensured that rich speculators would not lose a cent – we, the people, would pay for their gambling.

Anglo-Irish Banks had over €70 billion in bad debts but the bankers and the political elite covered this up.

Now the FF-Green government are propping up a zombie bank so that their crazy guarantee will not be called in.

If they had any concern for people’s welfare, they would never have signed that guarantee. But they only care about their fat cat friends.

Anglo Irish was not the only culprit. In just one year, in 2007, at the height of the Celtic Tiger boom, the Irish banking system was borrowing €150 billion from international money markets. This was the equivalent of the whole Irish economy for a year.

Their motive was pure greed. The more the banks took in, the more they could operate like drug pushers.

They stoked up the housing market, got people to take out huge mortgages – and then raked in the profits.

Their actions have brought ruin to the Irish economy – but they want working people to pay to clean up their mess.

They are only getting away with this scam because the political elite are puppets who dangle on their strings. Sometimes they don’t even bother to hide how close they are. The secretary of the Irish Bankers Federation, for example, is Pat Farrell – the former General Secretary of Fianna Fail.

The elite act like an aristocracy of money who just do what they want. And our only answer must be like the peasants of yesteryear: REVOLT.