"The Taoiseach has said he does not see a great problem with the levels of borrowing to buy property. Mr Ahern said there had been predictions of a huge downturn in 2005. He added the bad advice given by so many resulted in some people making mistakes when they should have bought property last year. "
Bertie Ahern, 28 April 2007:
"On the other side of the election we'll get back to normality. And I think that normality will be the soft landing. The construction projections were that we will move from something like 93,000 houses to 80-something. Now that's not going to create any kind of a difficulty."
There are currently upwards of 300,000 empty properties in Ireland
Bertie Ahern, 19 Sep 2008:
"Bank of Ireland shares are € 3.80 today. Now if I meet you here next year, or the year after, do you seriously think Bank of Ireland shares will be € 3.80? I'd go out and buy Bank of Ireland shares . . . that's what I'd do."
Bank Of Ireland shares are currently trading at €0.397
Bertie Ahern, 27 Sep 2009:
"[Sean Dunne]’s lost a lot of money on it. Sean’s just one of the guys. I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them."
Sean Dunne is the man who bought the 4.84 acre Jurys Hotel site in Ballsbridge for €260m which worked out at €54m an acre (an Irish record at the time). Because of access concerns to the site, Dunne then purchased the Berkley Court Hotel for €119m, €57m and acre (breaking the record he himself had set with the Jurys Hotel site). The purchase of the sites was financed by a 5.25% interest bond compliments of Ulster Bank.
Not content with sitting on some of most expensive land in Dublin, he then set out to purchase AIB's head office on four acres of land only to lease back to the AIB at €11m p/a. The cost of this? A cool €200m. the plan is that in five years time, AIB HQ will be torn down and replaced with another similar development to the aforementioned Jurys Hotel site.
Sean Dunne recently left Ireland to live in a gated community in Greenwich, Connecticut to join residents who include the former heads of Xerox, Goldman Sachs and IBM. He recently brought his children trick-or-treating to the Belle Haven Yacht Club where annual membership fees are $250,000.
And most galling of all…
Bertie Ahern, July 2007:
"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something."
Yesterday an unemployed construction worker from Cork killed his two little girls, aged 2 and 6, before dousing his car in petrol and crashing at high speed into a tree. This was while Merkel and the IMF bailiffs were at the national door and still those self-serving bastards in power are trying to protect the banks and their speculator and developer chums WITH OUR MONEY. Merkel is right – cut the rope and let the gamblers take the hit. What happened in Cork is devastating and beyond comprehension. I just hope that red-nosed fucker Ahern drinks himself to death sooner rather than later, then we can start on the rest. Sorry for the tone but I am very fucking angry.
I understand your anger, Gerry. And it's not just Ireland.....
yesterday was just an awful day in ireland with the murders in cork and also in newcastlewest, limerick
And they still persist in lying to the country, apparently its 'in the interest of the tax payers'..........give us a break, we are well aware that the country is fucked and we will be paying for our governments decisions over the last few years for many many years to come. There are alot of people under severe pressure there will likely be alot of social tension after the budget and some party from the left will probably emerge from the shadows. Our current stock of left will be small potatoes, compared to what will arrive. Still you have to wonder why all the protest all over europe while in Ireland we just roll over and take it. A few minor adjustments like three more years to retirement, how bad?? now we get to work to 68 while our friends in France tear the place apart because they now have to work to the grand old age of 62. We have a few 'protests' which really do nothing but cause commuters inconvience.
My heart sinks when I read such stories, Gerry. I get angry too. I just wonder what world my son is going to grow up in.
[the song in question is highly critical of IMF lending poilicies]
Mrs John Murphy
What really pisses me off at the moment is listening to various baby-boomers who got their University education for free, complaining about the students protesting about fees being whacked up to £9000 etc
So let me get this straight - you got your education for free and had a grant to live on, you now want low taxation so you aren't prepared to pay for the education of the next generation and you claim that students are self-indulgent, cry-babies who want something for nothing.
+1 MJM, but those students shouldn't be protesting because their 30 grand debt will be written off after 30 years (of course no mention made of how expensive servicing that debt will be in terms of interest & taxation)