Sunday, April 26, 2009

The ones who caused the problem

The Irish economy is in a terrible state and I think that the time has come to apportion blame. It is very clear that there is one group who caused the ridiculous property bubble and they now deserve our contempt. They are responsible for the mess we are in and if there were any justice in the country they would be the ones who should be brought to account.

We can't possibly blame the people who sold their homes at the top of the market. They weren't being greedy, they were simply accepting the market price for what they sold. The bubble was not caused by foolish buyers who risked money they did not have to purchase property they could not afford at absurdly inflated prices. No.

There is one group to blame. They made a huge contribution to the property price inflation. This group of people was not driven by any altruistic motivations they simply want to make a buck. And indeed they did very well out of the economic growth. Without them there simply couldn't have been a boom. They fascilitated just about every property purchase. It is time to name and shame them. Though no doubt many of you have already guessed who they are. They are of course the furniture removal firms and their greedy employees.

Now let's spare a thought for the victims, such as the bank executives who have lost out. For example poor Jake DeSantis .

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