Interested in maladministration. Estd. 2005
Madoff gets 150 years and his accountant has been charged with aiding and abetting fraud and four counts of false audit reports. In Ireland, to my knowledge, not a single accountant has even been investigated never mind actually charged despite the theft of countless millions in a whole variety of criminal scams over the years. … Continue reading “Accountants not accountable”
On a recent Late Late Show (1hr.5mins), Pat Kenny introduced author and journalist, Colm Tóibín, as follows: “A man who looks at life a little differently than most, it’s probably why he rushed up to shake the hand of the disgraced building society boss, Michael Fingleton…” Alas, Mr. Tóibín is very much like the majority … Continue reading “Favours feeding the disease of corruption”
On 11th December last Bernard Madoff was arrested by police on allegations of major fraud. Yesterday, (three months later) he was taken away to jail in handcuffs from a court of law and will receive a jail sentence in June of up to 150 years. He is likely to spend the rest of his life … Continue reading “No accountability, no justice, no hope.”
When I awoke on Saturday morning I had no idea that I was about to be transported to another planet. But that’s exactly what happened when I tuned into the Marian Finucane Show and was whisked off to planet Duffy by the soon to retire chief executive of Bank of Scotland Ireland, Mark Duffy. First … Continue reading “Moving on – to planet Duffy”
Niamh Brennan, Professor of Management at UCD is a very confused woman. Here’s what she had to say on RTE recently (1st report, 2nd item) regarding the Anglo Irish fraud. “I’m terribly disappointed that the company did not have the high standards that I thought it had.” “The accounting standards are very explicit, transactions should … Continue reading “Confusions and bafflement at the school for Corporate Governance”
Even if Fitzpatrick deigned to appear before the Economic and Regulatory Affairs Committee it would make no difference whatsoever, the committee has no power. It was set up after the 1997 general election for the same reason that all Dail committees are set up – jobs for the boys. None of the 30 or so … Continue reading “The exposure of a corrupt state”
Texan billionaire Sir Allen Stanford has been charged over an $8bn investment fraud. The Securities and Exchange Commission (The American equivalent to our Financial Regulator) said the financier had orchestrated “a fraudulent, multi-billion dollar investment scheme”. The charges against Sir Allen followed a raid by US marshalls on the Houston, Texas, offices of Stanford Financial … Continue reading “No comment required”
Sean Fitzpatrick, the man who headed up the bank responsible for the biggest fraud in the history of the State has just given two fingers to the Dail’s Economic and Regulatory Affairs Committee and by extension the people of Ireland. The auditors of the bank also gave the two fingers to the people of Ireland. … Continue reading “Time to throw them out”
Enda Kenny has called on (invited?) the board of the Financial Regulator to resign. John Gormley has promised that the bankers will go to jail and that Ireland will have the most comprehensive regulatory system in the world. IBEC Director General Turlough O’Sullivan said he believed bankers were guilty of greed and criminality and should … Continue reading “The slide into oblivion continues”
The eagle has landed, the Messiah has returned, the cavalry has arrived – Brian Cowen made a speech that has, apparently, changed the universe. Well, not really but he did get the media all excited. I suspect this is because many in the media predicted that Cowen was indeed the long awaited Messiah and now, … Continue reading “The Messiah has landed”