Things that strike me

Thanks to the Sunday Times. I was too angry to read this one on Sunday so here are some thoughts on the idea.

Eamon Ryan, the communications minister, said that the government had taken steps to rescue the banking system, and now had to help individual homeowners. “Just as the banks were assisted to protect the greater good, we need to help those struggling with indebtedness so they can be part of the recovery rather than be caught up in Dickensian court proceedings,” he said. “Many people are now facing difficulties in managing their own debts as they struggle to hold on to their homes and return businesses to their full potential.”

I’m really angry about this. I refused to vote for the Green Party last time out over their idiotic health care ideas plus the fact that their then health spokesperson was against vaccination. I’m deeply unhappy with John Gormley over his road to Damascus realisation that we have issues on the water supply infrastructure but at least that’s supposed to be part of his brief in environment. Eamon Ryan, however, is supposed to be looking after communications and since the country has severe issues with highspeed broadband provision it’s fair to say he might want to concentrate on that.

That being said.

• Bankruptcy legislation needs to be reformed. Is this suggested? Nope.
• Lots of people are not in trouble financially with their mortgages because they didn’t take out mortgages, or have resolutely been paying them down. Are they going to get any bail out? No, they will be paying for it via increased taxes.
• Lots of people are in trouble because they remortgaged for investment purposes. Should the taxpayer be bailing them out? No. Absolutely not.
• The argument is that the banks are being bailed out so the borrowers should be as well. This doesn’t cut it with me. Everyone knew the risks. EVERYONE heard the bits on the ads about how your home was at risk if you didn’t keep up payments. But people still borrowed insane amounts of money.

I didn’t. I won’t be being bailed out. I will be paying higher taxes. I will still have to support my own rent. I was sensible, dammit and no one is supporting me because I don’t need to be supported. But I’ll be doing the supporting.

If debts connected to home mortgages are to be written off in any respect, supported by the taxpayer, I think that those who are not so endebted and not so seeking support should get some sort of recognition. Reduced tax, perhaps. Increased mortgage interest support if they have a mortgage. Increased rental relief if they rent.

The argument is that the banks were bailed out, now the people should be. Well I don’t agree too much with how the banks are being supported and I hope they’ll be paying increased banking taxes into the future to deal with this.

For the prudent; the people on whom this country is increasingly dependent; the ones with savings, the ones without debts, what interest do they have in this country?

You’d have to wonder. Right now, I really wonder what the point is.