Interested in maladministration. Estd. 2005
On 21st Jan last (2nd report), the chairman of the Financial Regulator, Jim Farrell, appeared before the Oireachtas Finance Committee to answer questions on the banking crisis. Here’s what he had to say about the Anglo Irish Bank debacle. “The action that was taken was in the context of the environment of the time…The Financial … Continue reading “Financial Regulator – The leopard doesn't change its spots”
Lies and secrecy are the principal weapons being used by the Government to protect the developers and bankers of Anglo Irish Bank whose greed has brought the State to the brink of bankruptcy. There’s nothing new in this, the State and its agencies have always acted to protect the interests of the corrupt with no … Continue reading “Lies and secrecy do not fool investors”
The board of the Financial Regulator gathered today to lie through their collective teeth about how they dealt with Sean Fitzpatrick’s dirty little secrets. Outgoing boss Patrick Neary was asked just one question by the useless gaggle of politicians pretending that they have power to actually bring these people to account. Chairman of the board, … Continue reading “Serving their masters”
We here at Public Inquiry have always treated the so called Financial Regulator with well deserved contempt. It’s an organisation that claims to work in the best interests of the consumer but in reality does no such thing. The ‘Wild West’ financial sector of Ireland is, by far, the most corrupt in the Western world … Continue reading “Neary: A pathetic and cowardly civil servant”
The Financial Times has rightly described Ireland as a banana republic in response to the Anglo Irish Bank scandal. This is part of an ever increasing realisation by the international community that the administration of Ireland is, at every level, rotten to the core. It is only within Ireland that the reality is denied. It … Continue reading “A corrupt nation in denial”
Yet another banker has been caught out and forced to resign. Sean Fitzpatrick, chairman of Anglo Irish Bank, has resigned in a controversy over ‘inappropriate’ loans to directors involving sums of up to €87 million. We don’t know yet if Fitzpatrick has done anything illegal, we can only be sure that if he has he … Continue reading “Yet another banker caught out”
My first reaction to the news that Sean Quinn is standing down as director and chairman of Quinn Insurance following breaches of regulatory requirements is – Suspicion. The punishment meted out to Quinn Insurance is what we would expect to see imposed by a real regulator in a functional democracy. And this is what bothers … Continue reading “Quinn Insurance fines – Suspicious”
I received the following by email yesterday. I’ts an open letter to the Minister for Finance from Justine McCarthy. It’s worth reading. Dear minister, You told us not to be frightened. You said you would make the budget “as fair as possible”. You promised us you were going to challenge the vested interests and protect … Continue reading “An open letter to Minister for Finance”
I simply refuse to believe the claim by the State that 24 million documents have to be examined before the Anglo Irish Bank trial can proceed. If the figure was 24,000 documents I would be surprised but 24 million is just not believeable. The principal allegation against Mr. Fitzpatrick seems to be that he was … Continue reading “The 24 million documents lie”
Article from Saturday’s Irish Independent The world of politics is far from dull. But, this week, it turned into a full-blown roller coaster when the Government decided to ram through new legislation to nationalise Anglo Irish Bank. Predictably, the Opposition was making the most of its chance to shine. And, in the case of Labour … Continue reading “Lashing out at the 'Anglo man' culture”