Save the best until last.

Bank recapitalisation is looking more likely for several Irish players, however, an important precedent must be observed – we saved the weakest first and therefore we will almost invariably need to save the best.

The ongoing Anglo debacle is evidence that we opted to get behind a bank that had falsely represented its balance sheet, over exposed itself to high risk clients and run short of money. So we saved the weakest, and that sets the foundation for saving the strongest. The idea that we should only save strong banks never gained traction and that is unfortunate. The State is being left to foot the bill now, is this fair?

Capitalism is being blamed for the current crisis, banks are also being blamed, but what about Governments? What was their role?

Monetary excess is often the cause of the boom and thus the bust, both the Fed and the ECB kept rates artificially low for far too long, Ireland entered the Euro and availed of low rates and high liquidity that was in …

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