Cowen – economic traitor??? No just overpromoted and incompetent.

Gilmore has got this one wrong. Cowen is merely a jolly country solicitor out of his depth in Finance and not blessed with a lot of insight or introspection. I believe that he has the national interest at heart and is not personally corrupt. I have no reason to think that Brian Lenihan is corrupt either.

That I believe Brian Cowen was complacent and is incompetent is nearer the truth. He has been promoted beyond his competence and abilities.  The blanket bank guarantee was wrong. I would have supported it if it applied to Bank of Ireland, AIB, Irish life and Permanent and EBS in the first instance. The NAMA operation is wrong. It is blindingly obvious that only Allied Irish Banks and Bank of Ireland are of systemic importance in the republic followed by Ulster Bank and National Irish. Irish Permanent and EBS are important building societies. Quinn is an important Insurance company. The Post Office is an important national resource.

BUT BUT BUT Anglo Irish and Irish Nationwide are not important. They should have been let wither and rot. Unfortunately, they are of huge importance now because of government decisions and public money.

The man on the 46A bus could have told you that all the way to Dun Laoghaire if you were deaf. The social catastrophe visited on the state by the financial incompetence of the Ahern regime is massive. The PDs played an important facilitatory role in all this. The grateful dead is an apt political epitaph for them. PD remnants are still kicking up dust in health. So much for the party of financial rectitude and hard money.