Would someone please tell us where the banks’ bailout billions are going?

AS the movers and shakers behind the scenes are about to bail out “our” banks — this time to the tune of €8 billion — would it be too much for a simple, uninformed member of the public to ask for a breakdown of where exactly this money is to go?

In most businesses, costs are carefully detailed and broken down into various categories to enable transparency between the end where money goes in and the end where money goes out.

Apart from random figures that have appeared in the media of the overall cost to the taxpayer, no further details of the capitulation to recapitalisation have been forthcoming from the Department of Finance. Supporters of the Government claim the work being done by the Taoiseach and his ministers is not being communicated properly to the general public.

Apparently, it’s not the case that they’re incompetent and don’t have a clue about what they’re doing — they’re doing first-rate work alright but it’s just not being explained very well.

The bank bailout plan gives the perfect opportunity for the leaders of our country, their PR handlers, spindoctors and media sympathisers to redress this supposed imbalance.

In order to get your message across, folks, please say more than the Government is “recapitalising the banks”, “rescuing the banks”, “investing in the banks”, etc.

Where is our €8bn going exactly? How is it to be split between the banks? And where will it end up within these stellar institutions? Employee wages? Capital structure investments? Premises rental? Marketing? Event sponsorship?

Detailed estimates to the nearest €10 million will do fine, thanks.

Kieran Sullivan

Georgestown

Kilmacthomas

Co Waterford