When he states that "we all share" in the "madness" that has nearly bankrupted the country, Shane Coleman tries to spread the blame for what he euphemistically calls "the malaise" to the ordinary Paddy Joe and Patricia Josephine [News, 27 December].

In doing so he seems to want to lessen the culpability of, to quote himself, "the government, the banks, the financial regulators and the property developers". That hypothesis, so beloved of government spokespersons and their cheerleaders, does not hold water.

The only firm figure he quotes to support his thesis is the fact that approximately 2.5% of the population "acquired second homes". That does not justify his conclusion that "most of us lost the run of ourselves".

A Leavy,

Shielmartin Drive,

Sutton, Dublin 13