Brilliant article from Gene Kerrigan in today's Sunday Independent.

The full article is reproduced below. I really dont need to comment on this one. Gene says it better than I ever could, and as per usual he gets it 100% correct ...

"If Wayne Rooney recovers sufficiently from his injury to play for Tottenham Hotspur in the World Cup in South America, how many tries do you reckon he’ll score in the first innings?

The question occurred to me last week while considering the thought processes of such major political figures as Eamon Ryan, Finian McGrath and Ned O’Keeffe. Not to mention RTE and the trade union bosses.

The bank bailout is a gargantuan issue, affecting generations. Even those of us used to political monkey business are taken aback by the ease with which the Government gets away with obvious claptrap as an excuse for diverting tens of billions in public money to private use.

Billions are being pumped into Anglo Irish, the banking arm of Fianna Fail’s builder wing. It started at €4bn and it’s heading to €22bn, with an assurance that it will rise further — be it €40bn or €80bn, whatever Alan Dukes and the other successors to Seanie FitzPatrick demand.

(As usual, when discussing matters of higher economics, this columnist should make it clear that he lacks training in the finer points of debtequity swaps. Unlike such geniuses as Brian Cowen and Alan Dukes, I’m forever mixing up my LTEV with my LTV ratios. In short, I don’t know much about economics, but I know when my throat is being cut.)

Eamon Ryan, Minister for Making Meaningless Noises, is an important figure in the current crisis.

Whether it’s the bank bailout or the right of Willie O’Dea to blackguard political opponents, Eamon steps up to argue the case.

As he explains how wonderful his Government is, Eamon usually tilts his head to one side and puts on his patronising halfsmile.

He knows we’re frightened and suspicious — but he forgives us, the little people. And he’ll explain the world to us if we’ll just shut our goddamn mouths and do as we’re goddamn told.

Last weekend, academic economists got their knickers in knots when Eamon explained how we would probably “have to leave the euro” without the bank bailout. “It’s not easy, it’s not palatable, but that’s the choice you’re faced with.” When asked about alternatives to Nama, he bullied: “Do you think we should leave the euro?”

Now, leaving the euro would be a massive step — involving setting up a whole new currency. It would be so drastic as to make almost any other course seem safer.

(Besides, is there any combination of the current parties you’d trust to attempt such a gigantic and dangerous project?) Ipso facto — accept the goddamn bank bailout, as arranged by your betters, and shut the hell up.

What troubled the academic economists was that Eamon’s view of the bailout (“accept it or leave the euro”) didn’t make sense. “Without foundation,” said Karl Whelan of UCD. “The consistent evidence that senior ministers do not understand the banking situation is extremely worrying.”

Brian Lucey of TCD: “Either extremely misleading politics, or a deep, dangerous misunderstanding of almost everything.”

When Eamon Ryan explains how we must accept the bailout or leave the euro, it makes as much sense as wondering aloud if Trapattoni will guide Wayne Rooney’s cue to make a 147 break in the upcoming Euro Handball Steeplechase.

When an issue is of huge importance, yet is so technical as to be next to incomprehensible to the lay person, a Government minister using such bullying tactics is contemptible. But it fits into the “say anything” culture of this Government. Frighten the punters with comparisons to Iceland.

Shut down discussion by claiming it’s the only game in town, while your media cheerleaders parrot, “There is no alternative.” Throw around unsubstantiated figures until puzzled journalists habitually report those figures as fact.

Mislead, mislead, mislead. Here’s Brian Lenihan: “I am firmly of the view that Ireland cannot contemplate a default.”

Memo to Mr Lenihan: Hard to believe, I know, but Anglo is not Ireland. Again: “We can’t go around repudiating our debts.” No one wants the State to repudiate our debts, but these are not “our debts”. They are the debts of private entities — banks, builder investors — who engaged in massive gambling games, and lost.

Memo to RTE reporters: stop referring to “our banks”. They are not our banks, they belong to private outfits. Even nationalised Anglo is not “our bank” — it’s run by a private coterie of highly paid managers who will do whatever benefits the bank, regardless of its effects on the citizens.

And, by the way, bank economists and stockbrokers are not independent analysts. Politicians? Fine Gael is so brazenly opportunist, maddened by the smell of impending power, constantly searching for the killer soundbite, that its frenetic efforts are woefully unconvincing.

And here’s Ned O’Keeffe, Fianna Fail backbencher, on the bailout: “It could create a bigger mess for us than we’ve ever seen in our life” and might destroy Irish banking. But Ned backs it, anyway. Why? “I’m a member of Fianna Fail and I will vote with the party.”

Government supporter Finian McGrath used familiar rhetorical tricks to explain his vote for Nama. “It’s the only game in town” — a discredited device used to shut off discussion. “Keeping [Anglo Irish] open costs less” — an unsubstantiated claim by bankers with a vested interest.

Full disclosure: I gave Finian my No 1 preference at the last election. He is a passionate radical — and clearly out of his depth in dealing with the sleight of hand of those using public money to solve private capital’s problems.

Anyone doubt that the twin “recapitalisation” and Namafication of Anglo is a transfer of wealth from citizens to wealthy cretins who’ve screwed up their businesses? Well, read the comment of Moody’s, the international ratings agency: “Ireland has put in place an ingenious mechanism.”

Moody’s is one of the agencies paid by banks and hedge funds to certify that they’re credit-worthy.

Moody’s happily certified all the lunatic financial gambles that broke the international banking system — and were handsomely paid for it.

Moody’s applauds whatever helps wealthy gamblers — therefore it cheerfully endorses the “ingenious mechanism” that pulls the gamblers’ chestnuts out of the fire, at the expense of our children’s futures.

They see a government long conditioned to genuflecting to banks and builders — overwhelmingly committed to protecting the interests of investors, not the citizenry. And they say, “Good work, lads.”

Meanwhile, the fiscal problems must similarly be solved at the expense of the skulls. With great ballyhoo, public service trade union leaders have won a “revolutionary” deal — productivity concessions and service cuts in return for — well, something or other on the never-never.

The media portray the typical trade union boss as a bumpkin version of Che Guevara. In truth, many of them come from the trade union wing of Fianna Fail — most of them love being allowed sit at the top table.

The purpose of the deal on offer is to get them back to that coveted place.

On every front, using threats and promises, a brazen class war has been unleashed against leaderless citizens. And it’s all working well, so far.

Anyway, to more serious matters. When swinging his hurley in the away match against the Pittsburgh Steelers, do you reckon Damian Duff will find the going too soft at Punchestown?

Over to you, Eamon."