Namawinelake on a major silence in the Irish mass media; much as the media acts to mystify the class power structures of ‘the markets’ it is of little suprise that journalism remains blind to the outcomes of such structures.

NAMA Wine Lake

In fairness to the Irish Independent, there was a reference to the payment of €1.5bn to AIB bondholders today, appended to a news report which focussed on the NTMA selling bonds to pension funds; the Irish Independent wrote “Meanwhile, nationalised AIB will pay back €1.5bn in senior, unsecured bonds later today, in the latest controversial payment to bondholders in a bailed-out bank. The debt was not covered by a specific government guarantee, though it benefited from the Government’s decision not to “burn” senior bondholders in the State-controlled banks. Last night, the bonds were trading at face value; they have seen a sustained rise in prices as the repayment date approached. (Additional reporting Bloomberg)”

And that was it in Ireland’s old media.

RTE even managed to display its ignorance when it reported in the late afternoon, the occupation of the AIB building in Dublin’s IFSC district by protesters and said “They…

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  1. The point about the media, the ‘Sindo’ excepted, completely ignoring this immensely important event is well made, and brings to mind a quote (I think I read it on the back of a John Lennon album) saying ‘A conspiracy of silence speaks louder than words.’ As for RTE’s slanted presentation of protests linked to the issue, surely that alone nails the myth of that organisation’s ‘left wing bias!’ I note also that Newstalk presenter Mark Coleman, perhaps the most strident proponant of that myth, never advertises on his ‘hard hitting’ radio show, that he himself is a prime mover in the Irish National Forum, an organisation with a radical, right wing bias!

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