Bid to rescue bank will only make things worse

GREEN party leader John Gormley claims if we taxpayers let a bank fail similar to Lehman Brothers in the US, then the consequences could be catastrophic.

There is a failure to understand the grave circumstances surrounding the collapse of Anglo Irish Bank. The Green party is playing a pivotal role in spinning the Fianna Fáil line about the “importance” of Anglo to the economy and the need to replenish its capital base by more than €8 billion.

According to the Greens, this is not a bailout but an investment. Anglo employs only approximately 1,000 staff in this country. It was a one-trick commercial loan lender/casino. The comparison to Lehman Brothers is utter nonsense.