Genius Insight

Orderly coercive sovereign debt restructuring can be achieved without an SDRM or CACs via traditional out-of-court exchange offers.

This is a nugget of a ‘Tweet’ from the smartest man around, Nouriel Roubini. The ‘thing’ now is to find some people with the guts and the gumption to pick up this ball and run with it.

We live under a  Constitution that endows all citizens with property rights. The key word here is ‘ALL’. It is not just the property developers and it is not just the banks. In fact, the banks and the corporations that the property developers hide behind have fewer rights than the human beings who are the citizens of what is, for the time being, the sovereign state of the Republic of Ireland.

We have the right to extinguish the existence of corporations and we do so regularly. We have recently been taking extraordinary measures to keep alive a few bankrupt corporations at the probable cost of bankrupting the State, so as to save the ‘face’ of our political elite.  If the elite are perverting the norms of corporate laws and commercial practice there is absolutely no reason that the citizens should tolerate it or allow it to happen at their expense.

Damn it! The people can either stand up and exercise their constitutional rights or lie down and get crushed by the vanity of the ‘gombeens’. But will they follow if anyone shows the way?