Busting through the Gates of Leinster House.
Posted by Dr. Pitchfork
During a massive demonstration against the bank bailouts in Dublin yesterday, a group of protesters attempted to break through the gates of Leinster House, home of the Irishgovernment. Although the attempt to storm the Dáil was mostly symbolic, punches were thrown, heads were cracked and there was, indeed, blood in the streets.
The demonstrators are angry about the bailout of the major Irish banks and their bondholders. Under a “bad bank” scheme called NAMA (National Asset Management Agency), the Irish people are expected to be on the hook for €77 billion to purchase the bad loans. That comes to €22,000 per tax payer just to bail out Anglo-Irish Bank. By some estimates, the scheme stands to lose over €15 billion under even the most optimistic conditions.
Meanwhile, pensioners, public-sector workers, university employees are facing layoffs and wage reductions. All to protect the feckin’ bank bondholders.