Laying the groundwork

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rte.ie/business/2009/0226/lenihan.html

In a briefing to the committee on the current economic crisis, Minister Lenihan also indicated that taxes may have to be increased.

He said an extension to the Government bank guarantee scheme - which runs out in 2010 - was being considered.

Some more bullshit

He also said the Central Bank had warned of the dangers of excessive borrowing in 2006 but did not have the legal power to curb this. He said there would be a new model of regulation for the financial sector, but admitted this could be seen as locking the stable door after the horse has bolted.

The Minister also rejected criticism of the appointment of Richie Boucher as the new chief executive of Bank of Ireland, saying he had the confidence of the institution.

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Which institution was that and were there men in white coats involved?