German 'bad banks' head for Dublin

IFSC = International Financial Shit Centre

or

IFSC = International Financial Shit Collector

Ireland Freely Seeks Crap

Brilliant!!!

If Ireland can become the world capital for financial Toxic shite storage we’ll all be in Jobs for decades!!! A miraculous nirvana where the world financial crisis can be solved by hiding the crap out the back of sherriff street and pretending it will go away, we the Irish being happy to provide the calibre of Financial regulator and general financial dexterity for everyone to hum loudly and pretend the problem has evaporated.

" Bankers of the world unite, we have a dream, send us your tired huddle toxic assetts, sick impoverished and diseased pension funds, your impaired debt and your pseudo ponzi schemes and we will make sure that no-one ever hears a peep from them again"

Jaysus, the Harbourmaster would be hoppin again!!!

Oddly enough, this is good news on the jobs front.

a market is a market.

Cool, was trying to find something suitable for “C” but had to get back to work 8)

Where there’s muck there’s brass.

Brass neck.

Alright folks, this is going off topic. Try to get back on topic.

Lets look at this from the other side disregarding what the Germans or others think of us. If we gather most of the financial crap from around the world together in the IFSC (remodeled as a clearing house for all bad banks, toxic loans etc). We would get huge amounts of long term, stable but unfashionable jobs. Also when the worst of the toxicity clears the market in a few years, as it inevitably will, we will be able to take some of the credit for clearing up the mess. We will also have at that point a serious commercial advantage as we will have a huge, well clued in workforce with serious contacts in probably every major corporation and company on the face of the earth. Of course this cannot happen if we continue our culture of non-regulation, backscratching and cute hoorism. We have the facilities, the labour force, the skillbase and the opportunity.

How far are we away from this?

I interpreted the Germans hating us, not due to the recent mess, but because of our low tax status since the IFSC started. It therefore sticks in their craw that it now appears that the best option is to take advantage of it.

Ireland F*cks Self Continuously

Seriously, get back on topic!

  1. All toxic assets are transferred into Irish regulated banks whose task is notionally to collect on them.
  2. The rest of the world starts to recover and prosper.
  3. We leave/get turfed out of the euro
  4. We Zimbabwefy the old expensive Euro/USD debt in new IRP (NIRP)
  5. We hand them back their sparkley clean new non toxic (albeit worthless) debts and everyone goes on with the party without the world suffering massive devaluations or hyperinflation.
  6. After that, we return to the Euro like a phoenix from the flames and everyone cheers Irish ingenuity for fixing the world’s problems.
  7. As a reward for our help, the world and the EU allow us to continue our low tax no regulation system.
    8.) New celtic tiger.

8DD

I suppose you must be applying for the Financial Regulator job with a scheme like that Johnny :slight_smile:

I fear the Germans could lose interest in us after step 4 myself !

Poacher turning gamekeeper?

Joe Kennedy was put in charge of regulating Wall Street after the 30s crash (isn’t it odd to call it the 30’s crash as opposed to just the WS crash).