Chairman of Anglo Irish Bank Resigns

johnfás

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Seán Fitzpatrick has resigned due to a controversy over loans to directors. He had an 87 million loan from the bank.

More to follow.
 


cyberianpan

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Drumm is very exposed now, that news 2 weeks back about loan re-classifications from commercial to development has caused a total collapse of market confidence

If Fitzpatrick can't repay those loans he is in very deep doo doo

Indo
By far the biggest loser amongst Ireland's bank bosses has been Anglo Irish chairman and former chief executive Sean FitzPatrick. At the top of the market in early 2007 his 4.5 million Anglo shares were worth almost €80m. By yesterday these shares were worth just €1.6m.
cYp
 
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Bobert

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He borrowed 87 million?

How did he explain it?

"Well, we're putting up new curtains..."
 

Ramon21

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ballot stuffer

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This bank is a shining example of the worst corporate excesses of the celtic tiger.

This bank needs to be wound up.
 

Bobert

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Cookie won't like that when he sees it.
 

youngdan

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It can't be wound up because everyone is wound up in the windup to the woundup.
 

JohnNash

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Aer Lingus

Has the Clown resigned from the Aer Lingus Board aswell or is it just his own personal piggy bank that he has quit?

A Zanu-FF'r actually bites the dust!

Sweet baby Jesus, the walls are beginning to crack.
 

Pauli

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This bank is a shining example of the worst corporate excesses of the celtic tiger.

This bank needs to be wound up.
Agreed. Put it and those who used it for corporate racketeering to the sword.
 

JohnNash

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Agreed. Put it and those who used it for corporate racketeering to the sword.
I have been screaming about that zombie bastard of a bank and for the need to wind it up for the last year.

The taxpayer will ultimately be left holding a bill of close on €40 Billion when it happens.

€76 Billion loan book - based on its wreckless lending, fall in property values, etc etc €40 Billion is probably bad.

That bank should have been allowed fail. Certain shareholders (close to govt) pressured for the guarantee

Ryanair had closed their cash account and Anglo were finished - they should have been allowed to sink and then the other banks could have been dealt with.

Make no mistake about it. Anglo was saved by FF for FF. You and your children and their children will be paying for this treason.
 

cyberianpan

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IT
Anglo Irish bank chairman Fitzpatrick steps down

Chairman of Anglo Irish Bank Sean Fitzpatrick has stepped down tonight.
A statement Minister for Finance Brian Lenihan welcomed the appointment of Donal O’Connor to replace Mr FitzPatrick. The statement said this appointment was made following consultation with Mr Lenihan.
Mr Lenihan expressed disappointment at the “at the circumstances surrounding the resignation of Mr Sean FitzPatrick as Chairman but believes that strong corporate governance must be upheld by all financial institutions in the Irish financial system”.
Disappointment ? Bet he still gets to keep the money, full pension and no sanctions against him.

cYp
 

History Student

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This is the same Fitzpatrick that was advising the Government to cut child benefit, sack Civil Servants and slash spending, what a plank.

People like him should be in prison.
 

JohnNash

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This is the same Fitzpatrick that was advising the Government to cut child benefit, sack Civil Servants and slash spending, what a plank.

People like him should be in prison.
I want him and his ilk executed for treason.
Revolt is close.
Be prepared - Stand for what is right.
Fair deal for fair people.
 

Old Irish

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Animal Farm always comes to mind when it comes to these types. (and just in case I get slagged, I'm not talking about the porn version)

Pigs with no social conscience
 

droghedasouth

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Oh Phuck.
Just when you thought it couldn't get any worse, it just did.
Vincent Browne will have to change his planned programme tonight to go into overdrive.
 

JohnNash

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Animal Farm always comes to mind when it comes to these types. (and just in case I get slagged, I'm not talking about the porn version)

Pigs with no social conscience
while I agree you must be careful, I have seen good people being banned for calling Harney a pig
 


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