Tomás Ó Flatharta

Looking at Things from the Left

Make a Bonfire of Irish Banking Vanities

with one comment

The magazine Vanity Fair has published a sensational article “When Irish Eyes are Crying” –

http://www.vanityfair.com/business/features/2011/03/michael-lewis-ireland-201103?currentPage=1

It caught the attention of the Guardian Correspondent Lisa O’Carroll who observes :

“Any Irish reader who wants to save being offended can skip the last quarter of the article which leaves an impression that the Ireland is a land of fairies, potato farmers and rural unsophisticates.

But the article is well worth reading. It packages the drama of the last two years and particularly last November brilliantly.”

http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/feb/02/ireland-merrill-lynch-research-note-irish-banks?INTCMP=SRCH

Cutting to the chase – the Irish big banks rapidly blackmailed Merrill Lynch into keeping quiet about their insolvency six months before Finance Minister Brian Lenihan introduced a state  guarantee of deposits.

There was some discussion of this on the Joe Duffy RTÉ  Radio 1 Liveline programme on Friday February 4 – which in passing mentioned Brian Lenihan dismissing O’Carroll’s report on the Pat Kenny morning show which goes out on the same station.  Objective reader of these reports should recall the famous reply associated with Mandy Rice-Davies “Well he would say that, wouldn’t he?”

http://en.wikipedia.org/wiki/Mandy_Rice-Davies

Meanwhile the Irish media concentrates on the latest opinion poll and Fine Gael leader Enda Kenny’s refusal to take part in a debate hosted by TV3’s brilliant broadcaster Vincent Browne – important information without doubt – but surely they are missing a major part of the big picture?

An exception is Gene Kerrigan  – the mystery of it all, a literate courageous left-wing writer still published by the Sunday Independent – writes passionately about the Vanity Fair article – saying also :

“We needed a radical response to the crisis, we got deference. We needed a Joe Higgins on the job, we got John Gormley.”

http://www.independent.ie/opinion/analysis/were-irish-help-yourselves-to-our-cash-2527337.html

Written by tomasoflatharta

February 5, 2011 at 10:41 pm

One Response

Subscribe to comments with RSS.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: