Is this the start of a new round of banker bail outs?

[TheBigotBasher]

Irish face bill of €50bn for bank rescue
By David Oakley in London and John Murray Brown in Dublin
Published: September 30 2010 09:31 | Last updated: September 30 2010 22:49
Ireland has pledged to inject extra capital into its stricken financial sector as fears rose that the total cost to save its banks could rise as high as €50bn, more than a third of 2009 national income.

In the latest attempt to rescue its financial system, Irish ministers promised a renewed crackdown on public spending on top of the austerity packages that have been introduced. Despite what Brian Lenihan, finance minister, acknowledged were “horrendous” costs to clear up the bust left by the country’s property-fuelled boom, bond markets rallied and European policymakers praised Dublin for its efforts to draw a line under its banking problems

http://www.ft.com/cms/s/0/d8578e16-cc69-11df-a6c7-00144feab49a.html?ftcamp=rss

No one should forget it was the failure of relatively small banks that created a domino effect that led to large banks being "saved" because they were "too big to fail".

While Ireland gives one third of its economy over to a bank, the poorest face massive cuts in social programmes.

The whole basis of Neo-Con philosophy is once gain coming to a crashing halt and still people want to clap these idiots back in to power.

[Initech]

1. Why cant other countries learn from our mistakes?