Why bail out 10 big gamblers?
We all know that a share price can rise and fall (see Eircom) and, in the absence of insider trading knowledge, it is all a bit of a flutter.
Therefore, when the Anglo share price collapsed, these individuals probably lost e28m each on the deal.
By definition, though, they must be wealthy with assets in excess of the amounts owed to be good for a loan of that magnitude.
Why then are both the bank and the Government so keen to write off these debts to special individuals and force society in the form of the taxpayer to pay them instead?
If you or I were in the same situation (though with smaller sums involved), court orders would be sought for repossession of everything we owned.
Your very home would not be sacred and if the total realised from this was less than the amount owed, you could look forward to years of the bank seeking the balance from you.
The wealthy gamblers are simply trying to dump their debt on the taxpayer while retaining their assets and investments until we turn the economy around again, and while this is moral corruption, a lot of idiots will admire them if they get away with it.
But they must not be let get away with it.
Government credibility is at an all-time low and there is now a serious danger of civil unrest.
Fianna Fáil and their cronies have had a 10-year party and now they want the people who were not invited to come around and clean up after it.
The protest marches should be an indication to them that we have no intention of accepting responsibility for their mess.
But if they write off these 10 personal loans, then they are in effect asking us also to pay for the food and wine.
The decisions and actions of Taoiseach Brian Cowen and his cabinet in the coming weeks will determine whether they retire with a pension in a recovering Ireland, or a jail sentence in a totally new country.
John Mallon
Shamrock Grove
Mayfield
Cork
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