Fiscal Leadership

Read this article in today’s Torygraph. These are the kinds of decisive steps our highly knowledgeable (and highly paid) leaders should be taking: … dep102.xml

I have a friend who got caught up in some Cork stockbroking firm that collapsed due to fraud around 2001.

I’d say it took about 3-4 years before he got some money back.

I hope the Government’s deposit guarantee system is a bit better if a bank folds.

I think this is essential before the situation deteriorates any further but I don’t think it will happen till its too late.

And the irony being, that a 100% €100K or even €500K system will cost the government nothing (because it will not be needed), while the current system will see them throwing money at a bank in trouble, and trying to keep it afloat as the depositors run away.

It might be too late. Could have been a great boost to introduce above policy during last year’s budget.