The regulator

So the ‘government support’ was merely preventing illegal predatory loss-leading by a state owned competitor? Perhaps ryanair should also be grateful that the government didn’t authorize shooting their staff or burning their planes either?

Indeed - ryanair, once they got a level playing field, succeeded a lot more than aer lingus ever did.

OW and ragingbear, I disagree with both of you. The government’s actions in the 1980s were to turn a monopoly into a duopoly. In this way, they saved Ryanair by giving it a guaranteed revenue stream. The reason I think the current arguments are a bit moot is that no-one in the airline industry expected that Ryanair (or any other carrier) could expand so much from such a small base. I believe the perception was that Ryanair would become an Irish version of Danair - a few routes and a downturn from bankruptcy. The success that Ryanair have achieved beyond their competitors is down to Ryanair and the way they operate their business.

If they had gone bust, someone else would have imported the low cost model and made a success of it sooner or later (probably not until the mid-late nineties).

To my mind, what this demonstrates is the need for a level playing field, but also the need for intervention to protect new entrants who are growing their business before the profitability stage. Contrast this with risk equalisation which was designed to favour the incumbent and had the immediate effect of driving the number 2 player out of the market (for all their business was taken over by a new entrant).

examiner.ie/irishexaminer/pa … qqqx=1.asp

Well Bruton why the hell did you vote in favour of giving these clowns my money.
The least you could of done was abstain. I saw you on tv during the week and held out a glimmer of hope for Irish politics but not now

yes. these idiots believe what the banks are telling them
our government are in denial.

the ryanair issue is a bullshit sidetrack on this thread.

wake up boys and girls your governmet are delusional morons

Listening to Sean Fitzpatrick of Anglo on radio one this morning there seems to be a concerted effort among government, regulators and banks to paint this as a purely international liquidity problem in their appearances in media. They are saying the crisis faced by irish banks is not related to the solvency or true value of banks loans/assets. They know most people haven’t a clue about the liquidity and solvency of financial institutions. Informed people know that the Irish crisis was exacerbated by the international liquidity crisis but the banks solvency issues and bad debts prob was the main reason international banks wouldn’t lend to them. If the recent international liquidity probs were the only prob then Irish bank shares would’nt have fallen consistently for past 14 months by up to 80%.

Given the mess the banks are in i would not let the Regulator mind mice let alone a banking system

Now there is someone who knew what was coming and got the hell out of dodge.

https://www.finfacts.com/irelandbusinessnews/uploads/casey_denis.jpg https://www.finfacts.com/irelandbusinessnews/uploads/brian_goggin_001.jpg https://www.finfacts.com/irelandbusinessnews/uploads/sheehyfeb192007.jpg https://www.independent.ie/multimedia/archive/00160/landsbanki_160491t.jpg https://www.independent.ie/multimedia/archive/00187/david_187757t.jpg

Ha, Talk about regulatory capture!
irishexaminer.com

I agree. Its fishy that the regulator Neary, Lenihan and Fitzpatrick kept repeating exactly the same line in recent interviews - “its just liquidity” - as if that explains something or gets them off the hook.

No-one would lend to some irish banks without a government guarantee.

The reason they won’t lend is because these banks are trying to refinance billions of dodgy developer/builder loans which have started to mature 2-3 years after the peak of the bubble.

The markets just said “No, we’re not giving you cash to refi that shit.”

Thats what the Irish taxpayer should be saying too.

Oh for fcuk sake !

So when he police stop a car & find that the driver is drunk as a skunk & has just crashed into another car, should they just pop him back in the car & let them drive themselves home ?

Another muppet journalist identified :unamused:

thats what i though at first but in fact he’s against the *idea *of letting them off. He’s merely resigned to the reality that they will be let off with a slap on the wrist and explains why its going to happen. As much as it annoys me I agree with him that its going to happen the way he says its going to happen.