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Frank Fahey: bank Inquiry would delay NAMA


DCon

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Joined
May 5, 2009
Messages
5,901
He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.

He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.

He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.

FF seem very keen to have NAMA established before an inquiry. I wonder why..

According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.

He also pulled the classic FF line of "other countries failed to regulate their banks too"
 


Cassandra Syndrome

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Joined
Aug 23, 2009
Messages
16,908
He is sh*tting himself. I wonder what the real reason is for the delay in NAMA. I hope the EU has got the best team of clinical and mathematical Germans reviewing the proposal documents. The longer the delay the more the market is exposing them. Tee f*cking hee....
 

BrendanGalway

Member
Joined
Oct 3, 2008
Messages
47
i turned the station as soon as it started. Ive heard way too much for Fahey on that show to know it would give me a pain across my chest.

It will be nothing except a stream of lies and nonsense.
 

Foghorn

Well-known member
Joined
Sep 18, 2009
Messages
384
It would be incovenient to hold an enquiry before a General Election into how your party messed up the entire economy.

Voters have a nasty tendency to focus on such trivialities.
 

loaded32

Active member
Joined
Feb 23, 2009
Messages
280
He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.

He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.

He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.

FF seem very keen to have NAMA established before an inquiry. I wonder why..

According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.

He also pulled the classic FF line of "other countries failed to regulate their banks too"
Lets just hope that the likes of this type of patronising garbage from Frank Fahey (of that that we are becoming so used to at this stage from him) will only serve to further highlight the unease that a Banking enquiry is creating for Frank and the rest of FF and that the majority of the people in this country are intelligent enough to see this and not to once more buy the hoodwinking lines from Frank and the boys!!!

He says " the credit into the economy that NAMA will ensure"...sure we all know now that there is absolutley ZERO in NAMA to ENSURE that!!! More FF lies and hoodwinking
 

FakeViking

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Jul 26, 2006
Messages
9,005
Of course Frank wants NAMA.

Register of Members Interests - Dáil Eireann 1 January 2008 to 31 December 2008 - Tithe an Oireachtais

4. Land ……………………… (l) 2 apts Castlerea, Co. Roscommon: letting; (2) Apartments 8A, 16 Eglington Court, Galway: letting; (3) House at Kilbeacanty, Gort, letting; (4) Apartment at Dun Aengus, New Docks, Galway: letting; (5) House at Dun na Coirbe, Galway: letting; (6) House at Rinawade Close, Leixlip: letting; (7) Shareholding in apartment at Gort na Coirbe, Galway; (8) Shareholding in extended family owned properties at Moydrum, Athlone: letting; (9) Shareholding in 4 Apts and Shop, Lower Gerald Street, Limerick: letting; (10) Shareholding in retail unit, two offices and warehouse at Crowe Street, Gort; (11) House at Jumeirah Estates, Dubai; (12) Dwelling house, The Grove, Crowe St, Gort, Co. Galway; (13) Shareholding in apartment at Tappen St, Boston, Massachusetts: shareholding in Fahey Higgins L.L.C Boston; (14) Five apartments owned in partnership at Rue Paul-Emile, Janson 1000, ten apartments owned in partnership at Rue du Sceptre 1015, Brussels; (15) Apartment at Cathedral Place, Limerick: letting; (16) House at Villefranche, France; (17) Deposit paid and contract signed on property at Porto De Mos, deposit paid on property at Alcantarillha, Portugal; (18) Apartment at Irishtown, Dublin.
 

MPB

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Joined
Nov 27, 2009
Messages
4,465
When NAMA is up and running the golden circle is protected. All the FF appointed advisors such as tax consultants,Accountants,Legal Advisors and Estate Agents( valuers) will be in position. These are the same people that were giving advice and services to both the Banks and the Govt. during the paper tiger years.

When their positions are protected and their new watwertight contracts have been signed and the old heads have retired to the Bahamas with millions in pensions and golden handshakes then it will be time for an inquiry.

And better still some minor player will have been unfortunate enough to pop his clogs in the meantime and will be landed withall the blame.

Standard mode of operations for the paddy gestapo party that have ruled over this country for the last 80 years.
 

oceanclub

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May 17, 2006
Messages
1,304
Website
oceanclub.blogspot.com
He makes delaying NAMA sound like a bad thing.

Yeah, I wonder what possible reason Frank Fahey would want to halt a banking enquiry.

P.
 

DCon

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Joined
May 5, 2009
Messages
5,901
Of course Frank wants NAMA.

Register of Members Interests - Dáil Eireann 1 January 2008 to 31 December 2008 - Tithe an Oireachtais

4. Land ……………………… (l) 2 apts Castlerea, Co. Roscommon: letting; (2) Apartments 8A, 16 Eglington Court, Galway: letting; (3) House at Kilbeacanty, Gort, letting; (4) Apartment at Dun Aengus, New Docks, Galway: letting; (5) House at Dun na Coirbe, Galway: letting; (6) House at Rinawade Close, Leixlip: letting; (7) Shareholding in apartment at Gort na Coirbe, Galway; (8) Shareholding in extended family owned properties at Moydrum, Athlone: letting; (9) Shareholding in 4 Apts and Shop, Lower Gerald Street, Limerick: letting; (10) Shareholding in retail unit, two offices and warehouse at Crowe Street, Gort; (11) House at Jumeirah Estates, Dubai; (12) Dwelling house, The Grove, Crowe St, Gort, Co. Galway; (13) Shareholding in apartment at Tappen St, Boston, Massachusetts: shareholding in Fahey Higgins L.L.C Boston; (14) Five apartments owned in partnership (with a former Irish nationwide bank manager currently suspended and under investigation) and a Limerick developer who was lent vast sums by the bank manager under investigation at Rue Paul-Emile, Janson 1000, ten apartments owned in partnership at Rue du Sceptre 1015, Brussels; (15) Apartment at Cathedral Place, Limerick: letting; (16) House at Villefranche, France; (17) Deposit paid and contract signed on property at Porto De Mos, deposit paid on property at Alcantarillha, Portugal; (18) Apartment at Irishtown, Dublin.
 
Joined
Oct 23, 2009
Messages
71
i turned the station as soon as it started. Ive heard way too much for Fahey on that show to know it would give me a pain across my chest.

It will be nothing except a stream of lies and nonsense.
brilliant stuff

keane the pinko hack loves fahy

(get those pains investigated)
 

LDF

Well-known member
Joined
May 28, 2007
Messages
4,171
He is being interviewed on Newstalk at the moment and is saying that an inquiry will delay NAMA and this will delay lending into the economy.

He reckons this is because NAMA is taking up all the time of staff involved. An inquiry would decrease the staff available to NAMA (from the banks and DoF), and this would further delay the alleged "lending to the economy" which NAMA will ensure.

He believes the inquiry should be done by Oireachtas committee after NAMA is up and running.

FF seem very keen to have NAMA established before an inquiry. I wonder why..

According to Frank, the problem in the Irish economy is simple. The Regulator and DoF screwed up, and the banking system itself screwed up. Frank, of course, is not responsible for anything, despite the fact that he was a member of government and a small time developer/speculator with close ties to bankers.

He also pulled the classic FF line of "other countries failed to regulate their banks too"
God, where do you start with that tripe.

1. NAMA will not lead to an increase in lending by the banks. The new AIB CEO has said so.
2. NAMA is a bailout for the banks. Pure and simple.
3. If Frank has identified the DoF as culpable in the banking crisis why is he so comfortable with the DoF designed and managed NAMA process?
4. If Frank has identified the DoF as a culpable party in the collapse of the economy why does he support the current Taoiseach and former Minister for Finance. Perhaps he believes, like Noel Dempsey, that Ministers have no real responsibilites.
 

oceanclub

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Joined
May 17, 2006
Messages
1,304
Website
oceanclub.blogspot.com
More details here:

Fahey partners focus of probe by Nationwide - National News, Frontpage - Independent.ie

THE Dail's biggest property owner is involved in a partnership with the two men at the centre of a multi-million Irish Nationwide Building Society (INBS) loan inquiry.

Fianna Fail TD Frank Fahey owns apartments in the centre of Brussels in partnership with suspended INBS manager Noel Harrington, and Limerick developer Ger Clohessy.

According to documents, obtained by the Sunday Independent from the Belgian Land Registry, the three men are partners in a number of properties in Brussels.

Mr Clohessy is a large Limerick property developer whose name is linked to an internal INBS investigation into the handling of accounts at its Limerick branch. Mr Harrington is the manager of the INBS on Cruises Street in Limerick city.
Did the Newstalk presenter bring any of this up?

P.
 

Cassandra Syndrome

Well-known member
Joined
Aug 23, 2009
Messages
16,908
When NAMA is up and running the golden circle is protected. All the FF appointed advisors such as tax consultants,Accountants,Legal Advisors and Estate Agents( valuers) will be in position. These are the same people that were giving advice and services to both the Banks and the Govt. during the paper tiger years.

When their positions are protected and their new watwertight contracts have been signed and the old heads have retired to the Bahamas with millions in pensions and golden handshakes then it will be time for an inquiry.

And better still some minor player will have been unfortunate enough to pop his clogs in the meantime and will be landed withall the blame.

Standard mode of operations for the paddy gestapo party that have ruled over this country for the last 80 years.
+1000. Great post. The only hope lies in the market. The longer NAMA gets delayed the more exposed the sham becomes from market forces. Property will continue to plummet and the banks will become exposed. The ECB is tightening credit and imposing regulations on the likes of AIB and Bank of Ireland. Sooner or later the foreigners will begin to suspect that there is a hell of a lot of dodgy property loans in Ireland. I think they already have.
 

HarshBuzz

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Joined
Feb 28, 2008
Messages
11,914
+1000. Great post. The only hope lies in the market. The longer NAMA gets delayed the more exposed the sham becomes from market forces. Property will continue to plummet and the banks will become exposed. The ECB is tightening credit and imposing regulations on the likes of AIB and Bank of Ireland. Sooner or later the foreigners will begin to suspect that there is a hell of a lot of dodgy property loans in Ireland. I think they already have.
dem EU lads just don't understand de concept of long turrum economical valoo, sure tings will only be better de more prices fall!

and don't forget dat de ECB have promised to lend to us at 1% for ever!!

you're not seeing the big picture Cassandra ;)
 

DCon

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Joined
May 5, 2009
Messages
5,901
More details here:

Fahey partners focus of probe by Nationwide - National News, Frontpage - Independent.ie



Did the Newstalk presenter bring any of this up?

P.
What happens if Mr. Clohessy has to be NAMA'd?

As FF has said NAMA will take both good and bad assets, does that mean all of Mr. Clohessy's properties will be included in NAMA? This would include the properties he bought in partnership with Mr. Fahey TD (FF) and his former bank manager (currently suspended on full pay while under investigation).
 

yehbut_nobut

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Joined
Aug 16, 2007
Messages
523
More details here:

Fahey partners focus of probe by Nationwide - National News, Frontpage - Independent.ie



Did the Newstalk presenter bring any of this up?

P.
What happens if Mr. Clohessy has to be NAMA'd?

As FF has said NAMA will take both good and bad assets, does that mean all of Mr. Clohessy's properties will be included in NAMA? This would include the properties he bought in partnership with Mr. Fahey TD (FF) and his former bank manager (currently suspended on full pay while under investigation).
That's the nub of all this, and the reason why Frank is squitting himself. His two property colleagues named above are currently under CAB investigation, Mr Bank Manager was visted over the Christmas Period, and Mr Specu-veloper had the CAB gardai call on him last week.

Frank better be well stocked up with Andrex 3 ply.

CAB raids home of top Limerick bank boss - Limerick Leader
 

SideysGhost

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Nov 30, 2009
Messages
17,631
I said shortly before Christmas that I thought NAMA was in trouble. FF left it too long, they couldn't resist tinkering to squeeze some more scammery in there, and now the adults in Frankfurt and Brussels have woken up and are asking awkward questions. And I don't think they'll be impressed with FF's standard torrent of waffle.

This could all be starting to unravel now, and the bould Frank could be a very nervous man indeed.
 

Digout

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Joined
Oct 2, 2008
Messages
1,396
I said shortly before Christmas that I thought NAMA was in trouble. FF left it too long, they couldn't resist tinkering to squeeze some more scammery in there, and now the adults in Frankfurt and Brussels have woken up and are asking awkward questions. And I don't think they'll be impressed with FF's standard torrent of waffle.

This could all be starting to unravel now, and the bould Frank could be a very nervous man indeed.
Rumour has it that the lads in Europe aint one bit happy with whats happened here. I cant see them writing a blank cheque for these gombeens.

FF can pull the wool over the eyes of the sheep paddys, but the lads in Europe wont be accepting their rubbish so easily.
 

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