Silent majority rage at privileged untouchables

THE indication that the Obama administration is to impose a cap of $500,000 (€388,000) on the executive salaries of those companies that receive large amounts of bailout money is in stark contrast to the circumstances prevailing in Ireland.

Our Government is on the brink of committing many billions of euro from the National Pension Reserve Fund to bail out feckless and irresponsible banks without getting any commitment on curtailment of grossly excessive levels of remuneration, benefits, bonuses and other perquisites, or to demand a change in the vainglorious and pathetic leadership of these businesses.

There has not even been a symbolic acknowledgement by the Government that its response to remedying the country’s economic difficulties should also involve the affluent, the privileged and the politically well-connected when they decided to mutilate the living standards of the silent majority.