250,000 unoccupied dwellings tells a hell of a story. The Government opened up the development casino with the ever-willing banks running the tables. We, the Irish punters, were only too ready to step up and try to win our millions.

Repeat after me: in general, Irish banks are not the same type of banks as those that created the type of securities that brought down the Western financial system. They are a completely different animal.

Blaming the banks for lending you the money to buy a house you couldn’t afford is like blaming McDonald’s when you spill hot coffee on yourself (what, you mean my cup of steaming hot coffee might burn me if I’m not careful with it?). It’s a risk you take in life. Some risks pay off, and some don’t. Deal with it.

Of course that lawsuit re. the hot coffee actually happened.

Which means that we’re now assuming a similar worldview to our nutsy American cousins.

Wow. We really are f**ked.

It would seem that Ireland’s cosy coterie of financiers were well practiced at both sleight of hand and self-denial, whilst they busily pulled the wool over the public’s eyes ( I was also going to say the regulator’s eyes…but even his objectivity is now open to question).

In any other country this revelation would be enough to bring the government to its knees; but, not Ireland, the country that gave us Charlie Haughey and the kickback.

Nonetheless, in taking on Anglo (for which it had no choice), the present administraion has sown the seeds of its own downfall.