The present governor of the Central Bank,that august institution that stood idly by when the banks for which it had responsibility loaned out money hand over fist to those foolish enough to take it,and which failed utterly to behave in a responsible manner ,is now sowing utter despair in the hearts of those who who acted in good faith ,worked extremely hard and put money aside for the rainy day.I would say that the very mention of his name causes a chill to run down the spine of a substantial number of decent people who did the right thing and now find themselves demonised by him.
Our Paudi is one of them.Since the age of 16 he has worked 18 hours per day.Always been self employed he was told that were he to get sick or fail to provide for himself and his family ,he would get no State support.He has given employment to many hundreds of people over the years He has paid hundreds of thousands to employees and collected and remitted huge sums to the Government in taxes.He long since decided that house property was the best security he could get to ensure a reasonable income for his old age.Over the years he invested in house property for income.Not only did his bank encourage him ,but assorted managers actually fought with each other to give him credit,when they saw that his net rental income from letting the two houses he had let was tasty.They effectively arm wrestled for his favour when they discovered that he had accumulated E100,000.00 after 25 years hard work and guaranteed him a million loan for property investment.These salesmen were on a bonus of E,25,000.00 if they could reel him in.He wasn't educated to the level of these heads,never mind the economists and financial wizards headed the lending houses who were throwing the money at him.He smelt a rat and only borrowed half the amount and got two modest repairable houses for letting .The bank took as security a charge over his family home as well as the houses he was letting.
Then the shit hit the fan .The economists ,the financial wizards,the banks and the regulators made a hames of it and his tenants couldn't pay the rent.Now the rents didn't meet the repayments because the depression caused by regulatory failure and financial institutional greed caused over 600,000 to either emigrate or suffer the indignity of unemployment .His work also dried up and yes,the State gives him no support.The Vincent de Paul do.The banks are harassing him unmercifully and he is put to the pin of his collar to pay interest only.Half his family have emigrated,the further away the better as far as they are concerned ,because they have seen what false prophets have done to their father who worked himself to the bone .He is a broken man.His is net worth is surely minus E500.000.00.The salesman who sold him the money won't be giving his bonus back.
He is one of that unique band who must pay reparation to those who destroyed him (i.e.Taxpayers) unto the third generation,if they stay in this country.
And Patrick Honohan wants the Banks to repossess his properties and totally destroy him.
This is indeed a quare country .Those who caused the misery have money thrown at them.Those they destroyed are driven over the abyss.
Paidi is losing it.He swears that he dreams each night that he has died and is in the spirit world.He dreams that there is a weighing scales there that weighs common decency and compassion in the spirits present..He says that there is a big queue of spirits there who fail to register on the scales.Trevallion is one.Honohan refuses to stand on it so far.But his day will come.
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