Blog Home  Bookmark and Share

Future of the Banks

| No Comments | No TrackBacks

Has the Government learnt nothing from Eircom's experience in the hands of private equity investors and venture capitalists? It now seems to be wrapping up some of the Irish banks to facilitate a new game of pass the parcel using another key national resource.

Why doesn't the Government simply create a special investment vehicle to borrow the funds needs to recapitalise the banks via high-coupon preference shares and then do a public floatation of this vehicle to repay these borrowings?

This would allow the banks stay in, largely, Irish hands, give the Government a say over credit policies and ensure that banking strategies are aligned with the national interest rather than dictated by the short termism of unregulated Wall Street funds which played a lead role in creating the current international crisis.

This letter was published in the Irish Times on 22nd November 2008.

No TrackBacks

TrackBack URL: http://www.planware.org/cgi-sys/cgiwrap/bf/managed-mt/mt-tb.cgi/105

Leave a comment

OpenID accepted here Learn more about OpenID
Powered by Movable Type 4.25

About this Entry

This page contains a single entry by Brian published on November 21, 2008 2:50 PM.

Budget Reactions was the previous entry in this blog.

Waste in FAS & Dail is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Top of Page