Irish Banks to ripoff NAMA

That headline isn’t really news, at least to the people of Ireland. And only the, very disconnected, Irish Government believe that their spinning of any other message has changed that public attitude.

But here is another one, Rent, the very nature of the overinflated rents, which are driving companies out of business. This has only one value, and that is to the Banks which are utilizing the higher rents to increase the apparent value of their holding before passing them on to NAMA. In any other country, this is called Fraud

Accounting fraud
In order to hide serious financial problems, some businesses have been known to use fraudulent bookkeeping to overstate sales and income, inflate the worth of the company’s assets or state a profit when the company is operating at a loss. These tampered records are then used to seek investment in the company’s bond or security issues or to make fraudulent loan applications in a final attempt to obtain more money to delay the inevitable collapse of an unprofitable or mismanaged firm.

While this deceit may be well know to many, it was new to be. I could not understand why anyone would increase rents which were driving out tenants. Or how the rents were still overinflated with all the empty property’s currently on the markets. This more or less points to a second issue, that of Price Fixing and is, in reality, another for form anti-competitive fraud.

And there is no revolution yet? I suppose the bankers can have, and eat your cake too…

WoW! A positive step to restore trust.

The Gardaí raid offices of Anglo Irish Bank in Dublin in the first positive step in restoring confidence in the Irish Government. It’s a shame that that it took almost violent public outcry from the people to stir action from the lame corrupt ministers. It’s also a shame that any incriminating evidence has probably been destroyed and disposed of.

Government arrogance

Brian Lenihan, should be fired! Plain and simple, because he does NOT understand the terms or meaning of GOVERNMENT. Today in an interview he mentioned that the banks were not being bailed out by recapitalization using taxpayer money, that they were using other government funds from retirement accounts. Where does he get the idea that the government HAS ANY money that is not the property of the taxpayers? GOVERNMENT IS NOT A BUSINESS! I’ve said it many times before, the Irish Government only manages the finances of the people of Ireland, THE TAXPAYING PEOPLE OF IRELAND! The Irish Government does not, and never will have independent funds separate from Irish citizen taxpayer money.

Classic Republican Hypocrisy

If this doesn’t reek of classic Republican Hypocritical behavior nothing will when Republicans criticize Obama aides’ silence. They are criticizing from a government that that has epitomized non-transparent obscuration and political spin on every subject in the past. It makes one wonder just how stupid the American Public are, of maybe were. After all, they are no longer in control, and with this kind of ignorance and arrogance, will never be again.