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Saturday, June 4, 2011

Taxing Irish citizens for 20 years for bank losses

Interesting video about Ireland Banking failure, and resulting debt placed on Irish Citizens.

Ireland is bankrupt, its only a matter of time that they will return to economic wasteland once again.

It is very unfortunate, the answer was simple. Let the banks that gambled take the losses and free Ireland from gambling debts of banks.
That of course is not what has happened.

Also the bankruptcy laws in Ireland are draconian. That country needs same laws as America, if underwater, opt to give the house back to the banks. Instead citizens can be put into jail.

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