PARTING SHOT... Here’s a headline you’ll never see in this country: “Bankers on Trial.” But last Friday’s headline out of Dublin, where Ireland put three former bankers on trial for helping cause the collapse of the Irish economy four years ago. Thanks to the phony money transactions of bankers, Ireland suffered a deep recession and millions of people saw their salaries cut, their taxes hiked, and their life-savings wiped out. It cost taxpayers $60 billion euros, or $81 billion, and forced Ireland to accept an $85 billion bailout from the European Union just to stay afloat. The Irish recession of 2010, in other words, was a mirror image of our own recession of 2008 – the same causes, the same disastrous effects. With one big difference. In Ireland, the bankers, those who caused the recession, are being held responsible and have been charged with crimes. In the United States, bankers simply walked away – without even a slap on the wrist. Why are Irish bankers forced to pay for their crimes, and why were American bankers let completely off the hook? Every American whould demand an answer to that question. That’s my parting shot for today. I’m Bill Press.
Posted on: Wed, 05 Feb 2014 20:13:57 +0000
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