Angela Kerins resigns as head of rehab

Lumpy Talbot

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There is a case history in economics available in Cypriot and Irish liquidity crises in the respective banking systems. Firstly, both countries' banking systems were laundering money for criminals who live off drug dealing, protection rackets and the proceeds of prostitution.

Secondly, both countries' politicians would be outraged by that. But then they are professional liars for a living, they should be ignored in their outrage, and they would be wrong in denying it.

They also knew well enough about it when the crisis was playing out.

Cyprus, to our shame, got a lot closer to the reasons for this than we did.
 


Lumpy Talbot

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To get back to the thread subject... does anyone remember the good old day when Angela was ready to save Ireland by presenting a blue-print for recovery to the Government written by Denis O'Brien's household staff?

That was before Rehab went off like a grenade and Ireland was reeling financially from the commission men.
 

Lumpy Talbot

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Wonder what that strategic overlay might have been.

'Give Denis shyteloads of opportunities to make money off a cartel corner arranged by his half-concubines in the cabinet and make sure he is never exposed to taxation.'

Just about covers that plan, I'd say.
 

Lumpy Talbot

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There is a certain latitude allowed to the right wing which sort of implies that they own dismissiveness.

Personally, in old money, I'd probably be quite left wing. But that doesn't mean I'm any kind of softy.

While not wishing to give our merchants of the half-pence added to the pence any sort of sexual boost I have to say that I think there are 300 or so people in the Irish establishment who are responsible (a) for much of the corruption in the state and (b) for much of the effort made to prevent any operable counter action appearing in law.

Just for the avoidance of doubt, and to clarify that as a member of the pissed off silent majority I embody what is best about both left and right wings and therefore outrank both wings.

I hate the rubbish about 'the economy' being the first and leading concern of our society. Those who push that subversive crap should be got rid of in the first short sharp purge.

I'd be fairly merciless on chancers, on the other hand, the lads who work hard for a few years at getting doctors to sign them off as disabled in the welfare system so they can sit back and let everyone else take the strain.

That would be the second short-sharp purge.

The third would be anyone who dissented with the will of the people as the people carry me shoulder high out of any gaol with the establishment as neutered as East German border guards the night the wall came down. By popular acclaim as the newest saviour of the Republic.

After that I'd probably consider doing a Putin and taking my ease presidentially for a bit.

I still don't know, like most of my compatriots, whether I have right wing views by way of erupting so far on the left or left wing views because I have encircled myself through socialism into a moderate fascism.
 

stanley

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The above comment reminds me of something. Cyprus had a 'systemic liquidity crisis' around the same time we did. They had an investigation too.

They reported in a third of the time, at a fraction of costs we saw, and came to a surprisingly accurate answer which never appeared in Irish affairs;

'Between politics and banking there was an unhealthy nexus of corruption'.

Ireland's version. The Taoiseach and the bankers met on the golf course in the middle of the biggest economic crisis in the history of the modern state and, you know, none of them thought to mention any aspect of it all, at all.

Bertie had already passed the poisoned chalice to Biffo, he was well nicknamed, to date, neither he or Lenny soiled with normal FF habits.
 

stanley

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There is a certain latitude allowed to the right wing which sort of implies that they own dismissiveness.

Personally, in old money, I'd probably be quite left wing. But that doesn't mean I'm any kind of softy.

While not wishing to give our merchants of the half-pence added to the pence any sort of sexual boost I have to say that I think there are 300 or so people in the Irish establishment who are responsible (a) for much of the corruption in the state and (b) for much of the effort made to prevent any operable counter action appearing in law.

Just for the avoidance of doubt, and to clarify that as a member of the pissed off silent majority I embody what is best about both left and right wings and therefore outrank both wings.

I hate the rubbish about 'the economy' being the first and leading concern of our society. Those who push that subversive crap should be got rid of in the first short sharp purge.

I'd be fairly merciless on chancers, on the other hand, the lads who work hard for a few years at getting doctors to sign them off as disabled in the welfare system so they can sit back and let everyone else take the strain.

That would be the second short-sharp purge.

The third would be anyone who dissented with the will of the people as the people carry me shoulder high out of any gaol with the establishment as neutered as East German border guards the night the wall came down. By popular acclaim as the newest saviour of the Republic.

After that I'd probably consider doing a Putin and taking my ease presidentially for a bit.

I still don't know, like most of my compatriots, whether I have right wing views by way of erupting so far on the left or left wing views because I have encircled myself through socialism into a moderate fascism.
Love the strategy, Julius Caesar like, roll with the Republic status as Counsel to dictator for 10 years, Emperor thereon, I am with you, a Brutus will not get near, until next March at least.
 

stanley

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The above comment reminds me of something. Cyprus had a 'systemic liquidity crisis' around the same time we did. They had an investigation too.

They reported in a third of the time, at a fraction of costs we saw, and came to a surprisingly accurate answer which never appeared in Irish affairs;

'Between politics and banking there was an unhealthy nexus of corruption'.

Ireland's version. The Taoiseach and the bankers met on the golf course in the middle of the biggest economic crisis in the history of the modern state and, you know, none of them thought to mention any aspect of it all, at all.

On the other hand, Russian money was flooding through Cyprus, there was no visa requirements for individuals and a carefree banking system, Yukos was based there, still operating but Russians have to own operating businesses, not difficult for them
 

Lumpy Talbot

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There was a fair amount of money floating around in the Irish banking system as well from that geographic quarter. Some of it was hurriedly sold off in the early days when a thorough investigation looked more likely.
 

stanley

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There was a fair amount of money floating around in the Irish banking system as well from that geographic quarter. Some of it was hurriedly sold off in the early days when a thorough investigation looked more likely.
Yep and Anglo dumped their Austrian deposit arm like a hot potato when the fan hit the ceiling, have a funny feeling that joint held a lot of hot money deposits which were used as security for loans in Ireland.

An Anglo banker would have been richly rewarded for losing a bit of paperwork.
 

Lumpy Talbot

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Yep and Anglo dumped their Austrian deposit arm like a hot potato when the fan hit the ceiling, have a funny feeling that joint held a lot of hot money deposits which were used as security for loans in Ireland.

An Anglo banker would have been richly rewarded for losing a bit of paperwork.
Oh yes. I did clock that deal. There were some disclosures and interesting aspects of that hurried sale that Garda Joe seemed to miss entirely.

I think there was about 300 million in cash in Anglo Irish Austria and oddly enough Anglo, which was scrabbling madly for any scrap of liquidity at all actually offered any buyer a bonus for a quick sale, something like 10 million if memory serves.

I had taken an interest in that one because Vienna and Austria itself has been a major pipeline for Russian and former CiS states to wash money out into the western banking system and have it nicely laundered for them.

Valartis, the bank that bought Anglo Irish Austria were delighted with the deal as (a) they were able to take convoluted advantage of the Irish Bank guarantee without ever having any kind of presence in the state (b) they got a bonus for buying 300 million euros in deposits and (c) as they stated in the press release on the purchase it 'increased Valartis' exposure to 'eastern European markets'.

Which rather points an arrow at who exactly owned the 300 million in the Anglo Austria subsidiary the bank destroyed for liquidity couldn't wait to get rid of. Eastern European clients.
 

stanley

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Oh yes. I did clock that deal. There were some disclosures and interesting aspects of that hurried sale that Garda Joe seemed to miss entirely.

I think there was about 300 million in cash in Anglo Irish Austria and oddly enough Anglo, which was scrabbling madly for any scrap of liquidity at all actually offered any buyer a bonus for a quick sale, something like 10 million if memory serves.

I had taken an interest in that one because Vienna and Austria itself has been a major pipeline for Russian and former CiS states to wash money out into the western banking system and have it nicely laundered for them.

Valartis, the bank that bought Anglo Irish Austria were delighted with the deal as (a) they were able to take convoluted advantage of the Irish Bank guarantee without ever having any kind of presence in the state (b) they got a bonus for buying 300 million euros in deposits and (c) as they stated in the press release on the purchase it 'increased Valartis' exposure to 'eastern European markets'.

Which rather points an arrow at who exactly owned the 300 million in the Anglo Austria subsidiary the bank destroyed for liquidity couldn't wait to get rid of. Eastern European clients.
Maybe Sean Quinn, an expert in EE area.
 

stanley

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Links?
I forgot, you can't Google yet!
What are you trying to say, SV, that well known FF supporter, Sean Quinn, had no knowledge of Eastern Europe even though he tried to hide 500m + of Anglo borrowings over there.
 


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