There may be trouble ahead (or maybe Im reading too many newspapers)

Things arent looking good for Cowen & Co with some of his own cabinet and backbenchers appearing willing to jump ship. The Independent reports

a deep unease within the Cabinet over Thursday's nationalisation of Anglo Irish bank, with several ministers claiming this weekend they were railroaded into agreeing the move without discussion'

we also hear that

'Minister of State John Maloney, said of Brian Cowen 10 days ago: “No-one knows what’s gone wrong with him. This is not the man we know.”

If John, who, reports tell us is a close friend of Cowens, is worried then Im worried!
The taoiseach lost credibility when he stated yesterday

that for Anglo, it's a case of "business as usual

Was he unaware of Brian Lenihans earlier statement

that there had been 'a run of deposits out of the bank last week, leaving it in a very “fragile” position,

did he know that today the government are taking the step of freezing the anglo deposits of those who owe the bank in excess of 20million ( A typical example of finding the stables empty but having to be seen to 'do' something). Yeah, contradictions are worrying in these times.
Reading Gene Kerrigans article in the Indo does nothing but add to the rising tension. He warns

'"If this goes wrong -- and it's going that way now -- the country will go bankrupt, the State won't be able to borrow or pay dole or pensions or wages for nurses or teachers. The potential consequences are enormous

Scary stuff indeed. He then goes on to query the Nationalisation of Anglo and quotes Morgan Kelly, professor of economics at UCD,who said in December

"the bailout of Anglo Irish follows a compelling political logic. Anglo Irish funds developers, and developers fund Fianna Fail. By any other criterion, a bailout of Anglo Irish is senseless".

Nothing new there, this is just the Bertieboom version of the brown paper bag and this culture of cronyism was noted by Labour's finance spokesperson Joan Burton who said

that the government plans in relation to Anglo "reek of connections between Fianna Fail and developers and of banks with developers

So with hints and allegations abounding, the most interesting article today was from Daniel O Connell at the Independent who revealed

'that leading legal firms in Dublin have confirmed they have begun discussions with Anglo shareholders about taking a class action against the bank's auditors, Ernst and Young, the Financial Regulator and possibly Sean FitzPatrick, the disgraced former chairman, and other Anglo board members....they confirmed that this potenentially multi-million euro class action is being prepared as a result of the collapse in the bank's share price.'

More power to the shareholders we say, they're baying for blood and there's no predicting what may be uncovered in an investigation unfettered by government intervention. There'll be tossing and turning aplenty in the ministerial beds.

Interesting times indeed.