Sunday, May 17, 2009

Shaken and Stirred - Lenehan's London cocktail circuit

Just got to read in the Irish Times how the Investment Bankers in London are impressed by Brian Lenehan and his plan for Ireland Inc etc.... But arn't these the same guys who got us into this mess? The mess we got into from bankers wanting deals and 'returns' to book to the bonds packaged into whatever your having yourself. Back then they didn't care if the bonds ever made returns, as they were for selling not for buying (duh!). But now bonds are meant to be for buying (huh?), and bankers don't care what Lenehan and ZANU FF will do to Ireland just as long as we make the payments. Its a bit like pitching up at an AA meeting to ask advice on a new cocktail you have made. After 10 minutes of explaining to ingredients and mixing the answer comes back. 'Just double the booze'.