The Anglo elite and the secret recordings - guilty executives must be held to account - POLL
Contempt for the Irish government and the Irish people displayed in horrifying Anglo Irish tapes
On Monday night, Bowe stated that he regretted his language and tone on the phone conversation, but denied he had misled the Central Bank inquiry, however we now hear him recite a satirical rendition of Uber Alles, whilst giving two fingers to the concerns of the British administration.
However contrite, Bowe may believe he is, as it could be argued he was only following orders, ‘Drummer’ however is another thing altogether.
The reckless abandon and utter disregard of the Boss for the stability of the state and impact of Anglos behaviour on the Irish economy is beyond belief. Drumm said in the tape, “we’re (Anglo) going to be around for a long time”, and never a truer word came out of the mouth of a Anglo executive, the pernicious and corrosive legacy of Anglo will haunt this country for generations.
It was disclosed that following meetings between Anglo Irish Bank and the Financial Regulator and The Central Bank, Anglo proposed an emergency loan to the bank of €7 billion euro, which if the information in the public domain now is to believed, was known in advance to not be enough to sustain Anglo. It appears that Anglo knew they could not repay this money and the buck must stop here with the CEO David Drumm, Sean Fitzpatrick, Chairman of Anglo Irish, and to a lesser degree their senior executives and officials, who must have been aware of the ‘strategy’. All indications point to an awareness that the bank did not have ‘liquidity’ problems alone, but that it was in fact for all intents and purposes actually bust and in serious trouble.
Bowe said “that number is seven, but the reality is that we actually need more than that…the strategy here is you pull them in, you get them to write a big cheque and they have to keep, they have to support the money. If they saw the enormity of it up front..they might decide they have a choice…they may say the cost to the taxpayer is too high…if it doesn’t look too high at the outset…then I think we have a chance, so I think it can creep up.” So in essence, the mantra was get the money in, don’t let them know how serious the financial situation is, once we have the bailout, they will be tied into sustaining the bank in perpetuity, and so it has transpired.
The shocking and surreal attitude of the Anglo executives and officials is mind-boggling and reveals a culture of smug Machiavellian manoeuvring by Anglo, unsurpassed in even the darkest of days in our political legacy. But who was monitoring the banks actions, how much did the Government of the day, the Financial Regulator, the auditors and the Central Bank actually know. The Sun newspaper on Tuesday asked, “How come nobody's in jail?” and that is the question on everyone’s mind today. How can such a monumental incident and miscalculation occur without anyone being held to account, nobody being imprisoned, no assets being seized, no lavish pensions being frozen and nobody held to account, five years after the fact. The events that led up to the bank guarantee and the fallout thereafter destroyed the nations economy and sovereignty, imposed unemployment, hardship, negative equity, unwarranted and unnecessary penance and penury on the people.
- An open letter in strong defence of capitalism.
- Sarah Palin is saving Christmas
- Racist incidents in Ireland up by 85 percent...
- Gay teacher fired from Catholic school after...
- Virginia governor slammed by doctor over...
- Irish drugs mule to escape full trial and...
- Nelson Mandela was against IRA decommissioning.
- Top Christmas Irish ads that will be bring...
- Irish radio presenter suspended after anti-Isra
- Families as well as Catholic Church and governm
Quoting Churchill to an Irish audience to make a point is not the silliest part of this sad missive. Like so many "Conservatives" Conboy mBill O’Reilly slams Nelson Mandela as an unrepentant “communist”
Obama is not a socialist, that is why you got ACA run by private insurance companies instead of Single Payer. I know he's not a socialist because I amUnionists regret US envoy Haass’ call for new flag for Northern Ireland (VIDEO)
More 'fried brain' nonsense...A sibling of an Irish person...is Irish...stay out of the Sun, 'n keep trying, cobber!!!Gay teacher fired from Catholic school after applying for same-sex marriage license
Hi alisaann, in truth, the ones who lose the most are the children. Marriage affords most people a means to bequeath possessions to the family without