Category: Central Bank

Michael Noonan: As ruthless and callous as ever

When he was Minister for Health in the 1990s Michael Noonan and his bureaucratic minions hounded Bridget McCole, even on her deathbed, to stop her fight for justice against a state which had poisoned and eventually killed her.

Because she was dying Bridget McCole caved into threats and bullying and accepted a measly £175,000 compensation from the state. She only accepted the money so that her family would have something after she died.

Michael Noonan’s behaviour throughout was ruthless and callous. Later, and probably when he realised that his disgusting behaviour might cost him votes, he apologised.

Ok, it might be argued by some that Noonan made a mistake, that he realised how ruthless he had been and had learned his lesson. They might argue that having learned the lesson he would never again treat those who came under his power in such a callous manner.

Wrong. Noonan is still as ruthless, still as callous as ever.

He and his bureaucratic minions are are in the process to throwing thousands of desperate mortgage holders to a pack of foreign vulture capitalists.

This callous individual say he ‘expects’ any buyer of mortgages to comply with Central Bank codes of conduct. This is dishonest bullshit as it is expected that most, if not all of the vulture capitalists will not come within the remit of the Central Bank.

The Central Bank, mealy mouthed and spineless as ever, said they were ‘concerned’ and expressed a ‘preference’ for compliance with the code.

So here’s what’s likely to happen. Most of the 13,000 mortgages will be snapped up by the vultures. Feeding frenzy will commence and the mortgage holders will be stripped to the bone.

The victims will be left with little or nothing, with no hope for the future. They are strictly forbidden to bid for their own homes unless they can come up with the full amount due.

Remember 13,000 mortgages translates into multiple thousands of humans who are likely to be seriously damaged by Noonan’s ruthless strategy.

The vast majority of Noonan’s victims are likely to suffer trauma that will remain with them for the rest of their lives. Given the shock that’s about to be delivered to many of them it is quite likely that at least some will be pushed over the final edge.

But does a ruthless individual like Noonan, who first showed his true colours when he hounded Bridget McCole on her deathbed, care?

Like fuck he does.

Copy to:

Noonan
Central Bank

The Anglo Tapes: The Germans now know what we are as a nation

Few Germans, if any, have any notion of the damage done to Ireland over the decades by the disease of corruption.

Indeed, few Germans know anything of Ireland, period. Any why would they? Ireland barely registers on the global scale of importance.

Despite this, German politicians and media were able to make an immediate and 100% accurate assessment of what we are as a nation after just a few day of listening to the Anglo tapes.

Here’s just a few examples:

German Chancellor Angela Merkel:

The kind of banker talk like that on the Anglo tapes does real damage to democracy and makes it harder for politicians to convince people to get up, go to work, pay their taxes and show solidarity with people who are weaker. All of this is destroyed by that.

German Finance Minister:

These people came across as if they were supermen, above it all and had nothing but contempt for their fellow man.

A German publication interviewed some Irish commentators like Fintan O’Toole and Eddie Hobbs to get some idea of what was going on in Ireland.

The article concluded, using just the knowledge from these few people, that there was something seriously wrong with the Irish psyche, that there was something fundamentally wrong with the way the country was governed.

The above reactions were from citizens who live in a functional democracy where the rule of law applies to all citizens and not just to the peasants.

Now witness Marian Finucane’s response to the arrogance of David Drumm, keeping in mind that this is one of our most senior broadcasters who has witnessed and reported on an endless avalanche of corruption over the decades.

Drumm: Get into the fucking simple speak: We need the moolah, you have it, so you’re going to give it to us and when would that be?

And by the way, the game has changed because really the problem is now at their door.

Finucane: They actually do sound relaxed but they couldn’t have been relaxed, they must have been out of their minds.

And here’s Finucane’s reaction to the extremely insulting reference by the Anglo vermin to the German national anthem.

Finucane: (laughing) I think that’s hysteria breaking out somehow or other although I guess it wouldn’t have gone down terribly well in Germany.

The point to note here is that Finucane is making excuses for the vermin just as we’ve witnessed others make endless excuses for corrupt politicians, bankers,regulators and priests over the decades.

Unlike the German media and body politic, who immediately recognised vermn as vermin, Finucane did the typically Irish thing by ignoring the unpalatable truth.

Copy to:
Marian Finucane

Ireland: Still the Wild West when it comes to financial regulation

It has always been the view of Public Inquiry that Ireland is the Wild West when it comes to financial regulation.

And despite the fact that an almost complete lack of financial regulation played a major role in the destruction of our country there is still little or no regulation when it comes to financial activities.

This view is confirmed by a report on One News (8th report) today.

Researchers at Griffith University in Australia found Ireland among the easiest countries in the world in which to set up an untraceable shell company.

Shell companies, which have anonymous and untraceable owners, are often used by criminals and terrorist organisations to launder money.

It is illegal under Irish and international law to set up such a company.

The researchers contacted 3,700 corporate service providers in 62 countries enquiring about setting up shell companies.

Ireland was ranked 56th out of the 62 countries for the apparent ease with which researchers were able to find a provider willing to set up an untraceable shell company.

In a better performing country it took 25 or more different attempts by researchers to find a corporate service provider that would set up an untraceable shell company, in Ireland the figure was less than five.

In other words: Don’t mind about all that regulation/law stuff, we’ll deal with anybody, even terrorists, it seems.

Kevin O’Doherty Managing Director of Compliance Ireland, which specialises in advising firms on their legal responsibilities in this area, was not happy.

It’s a matter of concern.

That has to be the understatement of the year; he goes on:

We’re down there with the Philippines, Ghana and Kenya, which is not the sort of company we want to be with.

People will often throw insults at so-called tax havens but Jersey and the Cayman Islands were right up at the top with 100% compliance.

And that’s where we need to get Ireland Inc. playing. We don’t want people saying that our standards are actually quite shoddy.

Look at developing nations like Saint Kitts and Nevis and Albania scored way higher than Ireland.

And you would like to think we would have stronger controls and procedures in place.

The reference to Jersey and the Cayman Islands suggests that unlike these two islands, Ireland is not just an offshore tax haven but is also quite prepared to risk facilitating criminals and terrorists.

As for shoddy (financial regulation) standards, Ireland fully deserves to be ‘down there’ with the Philippines, Ghana, Kenya and Albania.

Like these countries, corruption in Ireland is not just an occasional event but is a normal and officially accepted part of how business is done.

Oddly enough, it’s the Department of Justice rather than the Central Bank that deals with this matter.

I phoned today to ask some questions but was told that those who deal with such matters don’t talk to the public.

All queries must be submitted in writing.

Copy to:
Department of Justice
Central Bank