Colm McCarthy: Living in la la land

Economist Colm McCarthy was on Drivetime during the week (23rd) talking about the selling off of state assets.

According to McCarthy government ownership of Allied Irish Bank, Irish Permanent and part ownership of Bank of Ireland will eventually become the big privatisation issue.

McCarthy, like so many other so-called experts, actually believes that the banks are owned by the state.

This, of course, is not the case. There will be no ‘big privatisation issue’.

The banks are merely in the temporary care of the state until such time as all the billions lost during the casino property gambles are transferred onto to the shoulders of taxpayers’.

Once the banks are cleansed of all gambling debts they will be handed back, without any consequences whatsoever for the vermin bankers, to carry on as before – defrauding and screwing the taxpayers who were forced to bail them out.