Politicians, builders and banks: is there a missing link?

The Irish taxpayers, especially compliant and hard-pressed PAYE taxpayers, are being asked, ostensibly at least, to bail out the banks, but we are not being given the background information behind these bailout decisions, or who it is that is really being bailed out.

The politicians are making decisions on the basis of the philosophy that “I will run it as I see fit”, hardly the philosophy of Plato and Aristotle.

The information we taxpayers urgently need includes who will benefit from these bailouts, and especially who are the individuals and companies that will benefit by the taxpayers guaranteeing the banks for defaulting companies, especially developers? Most PAYE workers are not protected by limited company status, so we are obliged to repay any debts we owe. If not, we can be jailed for defaulting. Many companies who now default on bank loans will have their loans effectively paid for by the taxpayer, so they have been given an incentive or invitation to default.