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Will Lenihan now rescue mortgaged families?

I DON’T think anyone can now regard Brian Lenihan as a credible finance minister. Almost two years ago he argued against the nationalisation of AIB — now he bites the bullet.

For those two years he waited thereby allowing the fat cats escape with huge pensions.

He said the banking bailout would not cost the taxpayer a single penny — now it’s costing a whopping €50bn plus in total. He has guaranteed the bondholders or those who speculated on lending to the banks thereby fuelling the greed of development.

Is it not imperative now that the minister — as the greatest bondholder of mortgaged homes in the country — guarantee families immunity from the state sheriff when the €4 billion budget he announces will end their capacity to repay their loans?

Mr Lenihan seems to think the general public will pick up the tab for any misleading information the banks may have given him. Of course, the natural instinct of our post-colonial race, who have been brought up to believe the law applies equally to everyone, is to take the minister at his word.

The law makes it clear that any citizen attempting to acquire monies from the state by giving false or misleading information is liable to fines and/or imprisonment, or both.

Mr Lenihan should apply the laws of the state to those in the banks who gave him that misleading information — if what he is saying is correct.

There’s a huge difference between a poor farmer in a disadvantaged area with a €50 over-claim or a household with an unpaid ESB bill of €100 and the bankrupting of the state.

Is this not food for any Fianna Fáil hack to come to terms with?

Michael O’Sullivan

Kilkinnikin Upper



Co Cork


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