A Money Furnace

The government seems to have a furnace somewhere to dispose of old banknotes, such is their fondness, to the point of habit, for burning public funds.

Why else does the taxpayer have to pay for a contaminated pork recall?

After all, we know with reasonable, if not perfect, certainty where the contaminated pork originated.

We appear to know that the output of that factory accounted for 10% of Irish pork in the retail market. That, in the judgment of the Government, justified the recall.

Why is the taxpayer the unwitting insurer of the farmers, the factory, the processors and the retailers?

Was the recall not, again, an incident of a market loss? Is there some large Irish Insurer whose policies cover this loss and whose business cannot be allowed to fail for unknown reasons?

Is there a peculiar and particular meaning to the phrase “a perfect market”, in Ireland?

Bankruptcy

Fianna Fail ministers have discovered the seat of Ireland’s problems; the Labour party is the problem, apparently.

There is justice in this. Eamon Gilmore, leader of the Labour Party has directed some sharp questions towards Brian Cowen, leader of Fianna Fail, in the Dail.

Now these questions should not be allowed. They resemble the process condemned in Hollingshead v M’Loughlin [1917] 2 IR 28.

…that examination … ought to be conducted in such a way as to avoid any kind of concussion upon the bankrupt to make him give evidence in one direction rather than another. A bankruptcy examination ought not to be converted into a torture chamber. The sanctions of the law behind the evasions or concealments or untruths or bankrupts are strong enough without concussions in the course of the examination being practised.”

Mr. Gilmore, request an urgent inventory of Dail ice-picks; Mr. Cowen is not a man to be crossed.

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