Cowen - Govts must never again intervene in property markets

[SamG]

independent.ie/national-news/fianna-fail-made-some-mistakes-but-i-didnt-cowen-2179696.html

TAOISEACH Brian Cowen last night admitted for the first time that Fianna Fail governments had made mistakes that contributed to the banking collapse and economic crisis."

But at no point during a speech on the banking crisis did Mr Cowen say he personally had made mistakes – maintaining instead that he had tried to curb the property boom while Finance Minister.

In what was billed as a major speech as part of the Taoiseach’s new communications strategy, Mr Cowen told the North Dublin Chamber of Commerce it would be wrong not to admit that mistakes made at home had contributed to the collapse.

He said the Government “shares responsibility for its role in these mistakes”.

The Taoiseach added: “Governments must never again intervene in property markets, via tax incentives or other measures, to a degree which may make possible property bubbles.”

So… what’s NAMA all about then?

[magoko101]

@SamG

independent.ie/national-news/fianna-fail-made-some-mistakes-but-i-didnt-cowen-2179696.html

TAOISEACH Brian Cowen last night admitted for the first time that Fianna Fail governments had made mistakes that contributed to the banking collapse and economic crisis."

But at no point during a speech on the banking crisis did Mr Cowen say he personally had made mistakes – maintaining instead that he had tried to curb the property boom while Finance Minister.

In what was billed as a major speech as part of the Taoiseach’s new communications strategy, Mr Cowen told the North Dublin Chamber of Commerce it would be wrong not to admit that mistakes made at home had contributed to the collapse.

He said the Government “shares responsibility for its role in these mistakes”.

The Taoiseach added: "Governments must never again intervene in property markets, via tax incentives or other measures, to a degree which may make possible property bubbles

."

So… what’s NAMA all about then?

Read that as future governments shouldn’t interfere in NAMA as they will be intervening in the property market!

[Howitzer]

Lying 2 faced prick.

[Rimbaud]

Think that particular pony has well and truly bolted…if it makes you feel better clowen yeah close the fucking stable door.

[sharper]

to a degree which may make possible property bubbles.

He’s perfectly right. The “Property Bubble Creation Act” of 2002 was very silly indeed but shure we all voted for it.

His statement is entirely useless. It’s like saying “We must never again get drunk to the point where we do something stupid”. Unless you’re talking about taking serious measures to change your behaviour then you’re almost certain to repeat it.

[sharper]

@Rimbaud

Think that particular pony has well and truly bolted…if it makes you feel better clowen yeah close the fucking stable door.

What’s the problem? We retired the stable hands on pensions so nice they never have to work again. The remaining ones have no horses to look after but we pay them anyway to do basically nothing. The stable owner got compensated for the missing horse. The people who used to bet on the horse got paid as if the horse had won.

Oh sure if you used to rely on the horse to get to/from work you’re now walking in the mud (sorry we didn’t pave anything, we assumed everyone would have horses forever) and you’re paying for all the folks who mismanaged the horses.

Don’t worry though, we’re like totally not going to do that again!

[Coles2]

[YellowRedGreen]

Note it only includes interference that may cause a property bubble. Imagine 20 years thence, more nonsense ensues, Cowen the Younger gets to his feet at the Dublin Chamber of Commerce(only people he talks to) and says well when we interfered back in 2016 nobody told us it could lead to a property bubble, best available advice (from VIs) …

[tea_drinker]

@sharper

to a degree which may make possible property bubbles.

He’s perfectly right. The “Property Bubble Creation Act” of 2002 was very silly indeed but shure we all voted for it.

His statement is entirely useless. It’s like saying “We must never again get drunk to the point where we do something stupid”. Unless you’re talking about taking serious measures to change your behaviour then you’re almost certain to repeat it.

Indeed. “Oh God never again” etc. A new meaning for the property hangover.

[Open_Window]

So I guess he won’t be part of any government that implaments a property tax

[magoko101]

@Open Window

So I guess he won’t be part of any government that implaments a property tax

Of course not… they will put that off so the next lot have to do it and will then complain about it from the sidelines…

[Open_Window]

@magoko101

@Open Window

So I guess he won’t be part of any government that implaments a property tax

Of course not… they will put that off so the next lot have to do it and will then complain about it from the sidelines…

Ha as I was typing thats exactly what I was thinking

[harkerj]

The Taoiseach added: “Governments must never again intervene in property markets, via tax incentives or other measures, to a degree which may make possible property bubbles.”

Governments must intervene in the property markets … to prevent property bubbles.

All the evidence laid out behind them, and they’ve learned nothing. I despair.

[BoyRacer]

The government has been interfering in the Irish property market since 1963 and until the planning acts are repealed will continue to do so.

[FAUGH45568]

That’s Nama 4 the people finished so

[Rimbaud]

@sharper

@Rimbaud

Think that particular pony has well and truly bolted…if it makes you feel better clowen yeah close the fucking stable door.

What’s the problem? We retired the stable hands on pensions so nice they never have to work again. The remaining ones have no horses to look after but we pay them anyway to do basically nothing. The stable owner got compensated for the missing horse. The people who used to bet on the horse got paid as if the horse had won.

Oh sure if you used to rely on the horse to get to/from work you’re now walking in the mud (sorry we didn’t pave anything, we assumed everyone would have horses forever) and you’re paying for all the folks who mismanaged the horses.

Don’t worry though, we’re like totally not going to do that again!

If I wore a hat I would take it off…excellent.

[ThomasB]

So is he now saying he DID see it coming, I’m confused When will these “professional politicians” ever stop and when will the people stop taking this crap. Somebody stop the bus, I want off

+1 to sharper too, pure excellence

[treora]

Governments must never again intervene in property markets, via tax incentives or other measures, to a degree which may make possible property bubbles."

An interesting way to say “eat my property tax suckas”

[ThomasB]

@treora

Governments must never again intervene in property markets, via tax incentives or other measures, to a degree which may make possible property bubbles."

An interesting way to say “eat my property tax suckas”

Also note the way he is saying nothing, but appears to be saying something, typical Political spin and double speak.

He hasn’t ruled out tax incentives, or intervening.