Our Mortgages are not Expensive Enough!

Permanent TSB have decided that the extortionate mortgages that we pay are not extortionate enough and have decided to lob 0.5% onto their variable rates.

I know what you're thinking. You're thinking that it seems a tad unfair seeing as how we are guaranteeing this bank in the 1st place with our tax euros. You're thinking that maybe seeing as how we're allowing the bank to operate with this guarantee that maybe the bank should not bite the hand that feeds it? But, you're looking at it all wrong! The poor bank has lost an absolute fortune through sheer incompetence over the last couple of years and how exactly are the executives going to get their ludicrously high bonuses this year if they don't fleece the tax payer? I mean, it's not as if it's the execs fault, now is it? Hmmmm?

It would seem to be a bit of a complete disgrace.

But, never fear! Lenihan will sort this out. He will wade in and say "Hey there! You! Yes, you, Bank over there! Stop fleecing the tax payers." And everything will be alright. He can do this because he can remove the guarantee from this bank and leave them exposed. Go Brian!

Unfortunately, Lenihan has decided to do nothing. Again. What's really amusing about this is that he claimed 100% confidently as he was removing mortgage interest relief for tax payers a small number of months ago that "interest rates are only going down" and that we can all afford this. How can a finance minister be so out of touch with what's going on? Now he's going to leave the bank to fleece the taxpayer. It's laughable. I can almost hear AIB/BoI initial disbelief at this followed quickly by manic joy. Expect similar increases from them now.

It's clear that our current government have no interest in protecting the population from the banks while throwing vast quantities of cash at them at the same time. We have to help ourselves now. All Permanent TSB account holders should withdraw their money immediately from the bank and close their accounts. This should inspire them to reverse this ridiculous decision.