Lenihan says there's 'denial' over economy

irishtimes.com/newspaper/bre … king24.htm

Which is complete at odds with the “We have to get the banks lending again” stuff.

The banks cannot lend conservatively in the current property market.

:bites tongue:


I feel dirty saying this but I agree with the Fianna Fail minister…encouraging to hear he’s advocating a return to conservative lending policies. The problem for him is that his own party members are happy to bluster and bleat on any platform they’re given about the disgraceful treatment of SME’s by the banks. I’d guess 90% of his party don’t undersand that there will be no return to the bubble economy.

Jesus wept,

when you guaranteed em you nationalised their losses you numpty…

Go talk to mad mary and her green shoots leni…

oh and tell your idiot brother to shut up
he’s embarrassing

Guess who he’s talking to…

Just looked them up…seem to be another quango full of FF appointees…still it is the right message is it not?

It is. But he is talking to his own party. Some of them don’t get it. Including, I believe, the Tea-shop and the Tawny-one.

Plus, the ‘frighteners for Lisbon’ campaign is starting. My guess, though, is that they won’t have to lie about how dependent we are on europe. Just not spinning bad news would be enough.

What Leni is really saying

“Lads, I know ye know we fu%ed up. But… Ye have no fu&in idea how badly we fu$*ed up.
So listen carefully here lads,
when I say
We Fucked up,
I mean,

I know what you’re saying and am right there with you on the scepticism but if they don’t get it and he does then i want him screaming it at them and backing it up with actions. He should use his influence to demand the party line on this is clearly defined.

We all know how fast the FFer’s can put out the word that a given standard response must be adopted - remember the “we got creamed in the election because of the hard decisions we’re courageously making” crap. Every one of the idiots vomited this a thousand times in June. Need a similar mantra on lending.

My suggestion: “The lending practices of the past couple of years were deeply flawed and have led us to the crisis we are currently grappling with. The hard truth is that some small businesses do not have a viable future. Banks should not lend to such companies.”

Some other interesting things in the Bloomberg report:
“cannot” nationalise the remaining banks. Not doesn’t want to, or doesn’t see the need to, “cannot”, as in “cannot afford to” or “cannot because europe won’t let us”.

I’ve said before that FF would nationalise the banks in a heartbeat if they could. It would be hugely popular to a certain baying audience. I also think the FF party is deeply riven…

Once upon a time, the current 6 guaranteed banks did not exist. Someone invented them.

No new banks are being invented now. It’s not clear that anyone knows why.

The issue, as I understand it, is that no lending, conservative or communist, is going on, so the question of how lending should be is sort of moot.

Meh - this conservative, traditional approach is for the little people. He’ll still advocate loonie, bubble-era pratices for his developer mates who haven’t a pot to piss in but somehow deserve to have interest roll-ups ad infinitum.

I don’t remember interest roll-ups being de riguer in the 80’s.

This is just not true. I am personally aware of a €5million loan that was signed off this week for a new business development. Proven track record, sound business plan, adequate security and you’re good to go.