Saving the economy - Bank plan is still the only game in town

NOW that we’ve had a few nights to sleep on it the euphoria that greeted the Cowen/Lenihan initiative is tempered ever so slightly.

A great cloud of confusion and complexity throws its shadow over the move. The consequences of failure are almost beyond comprehension.

Like an exhausted gambler down to their last few chips we are struggling to put a brave face on having to gamble far, far more than we can afford to lose in a desperate effort to recover something we should never have gambled in the first place.