"Freefall" Tonight RTE1 9.35 -will it tell us anything we didnt know?

loaded32

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What should expect from the latest recession based documentary on RTE 1 tonight?
I see our great old pal Bertie even shows his face and gives some commentary, going by the previews!?
 


dalywise

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This morning in the Financial Times, Wolfgang Munchau said that "Ireland is effectively insolvent". He points out that the government will take on debt equal to 1/3rd of GDP and to recover we need "spectacular rates of future growth". Most unlikely he figures.

Matter of time before the default button is pushed. Bloody Lehmans. Look what they did to us.
 

FakeViking

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I don't think FF are capable of criticising their masters. Kieran O'Donnell (FG finance spokesman) was shunted off the air by Mary Wilson just now, after we had to spend 10 minutes playing clips of the Price of Spin earlier. And what was the pressing item she wanted to get on to? The victorious hurling team's welcoming celeberation.
 

droghedasouth

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pity we can't just press Ctrl:Alt:Delete.
 

Tommythecommy

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Press release from O'Donnell

MONDAY 06 Sep 10 - Kieran O'Donnell
Further evidence of Cowen & Lenihan concealing vital Anglo info before committing to €35 billion bailout
Dáil kept in dark as


Fine Gael Deputy Finance Spokesman Kieran O’Donnell TD today (Monday) called on Taoiseach Brian Cowen and Minister for Finance Brian Lenihan to explain why they concealed further vital information from the Dáil on the nature of Anglo Irish Bank’s insolvency problems. It is clear now that Anglo was insolvent, not just suffering a liquidity problem - a critical piece of information withheld from the Dáil before it forced through the blanket guarantee scheme that included

Leinster House
Dublin 2
Ireland
Contact
Yvonne Hyland
0868508879
Kieran O'Donnell TD
Deputy Spokesperson on Finance with Special Responsibility for FOI, Procurement Reform & OPW




visit site »










Cowen & Lenihan concealing Anglo info


Fine Gael Deputy Finance Spokesman Kieran O’Donnell TD today (Monday) called on Taoiseach Brian Cowen and Minister for Finance Brian Lenihan to explain why they concealed further vital information from the Dáil on the nature of Anglo Irish Bank’s insolvency problems. It is clear now that Anglo was insolvent, not just suffering a liquidity problem - a critical piece of information withheld from the Dáil before it forced through the blanket guarantee scheme that included Anglo. This action was against the advice available to the Government at the time.

Deputy O’Donnell was speaking after RTE’s Freefall programme today revealed that Anglo Irish Bank asked Bank of Ireland to take it over on the same day the Government met to discuss the introduction of the bank guarantee scheme.

“This new piece of information raises more questions about the Government’s knowledge and motivation regarding the Anglo Irish bailout. Brian Cowen and Brian Lenihan need to clarify the following:

If they were aware of this approach by Anglo to Bank of Ireland, why did they conceal this information from the Dáil up to now?
Is there any other vital piece of information regarding Anglo that they are not sharing relating to the build up to, and passing, of their bank guarantee scheme?
Why were they so insistent on including Anglo in the blanket scheme, and effectively keeping Anglo alive despite its obvious insolvency – a decision that has already cost the taxpayer €25 billion, a figure that could rise to €35 billion according to Standard and Poor’s.

“This raises more questions about the blanket bank guarantee that was brought in on 29th September 2008. It is now clear that Anglo was insolvent rather than suffering just from a liquidity crisis as was being asserted by Government at the time of the guarantee. It further beggars belief that this Government has been so insistent on continuing to bail out Anglo in the light of this new information.”
 

CookieMonster

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What should expect from the latest recession based documentary on RTE 1 tonight?
I see our great old pal Bertie even shows his face and gives some commentary, going by the previews!?
Well it already has, we didn't know Seanie wanted to give Anglo to BOI.
 

dalywise

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Cowen's statement yet again, yet yet again shows that these supposed 'brilliant", "intelligent", "astute" etc politicians are in relaity quite thick. Same with Ahern - totally clueless and it always showed when they veered awy from civil servcie scripts. What British politician (Lord Boothby?) is reputed to have said after meeting an Irish minister "Do the Irish ever look beyond the village idiot when choosing their leaders?".
 

stanley

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Cowen's statement yet again, yet yet again shows that these supposed 'brilliant", "intelligent", "astute" etc politicians are in relaity quite thick. Same with Ahern - totally clueless and it always showed when they veered awy from civil servcie scripts. What British politician (Lord Boothby?) is reputed to have said after meeting an Irish minister "Do the Irish ever look beyond the village idiot when choosing their leaders?".


Personally I think the King of the village idiots is still running the most of the show from St. Lukes, he went too far and had to resign, but his absolute first love is FF in power and he has constantly delivered, the grey suits never forget and Ahern will be leading the Brians by the nose, grey siuts know if they lose it could be curtains forever.
 

jmcc

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I wonder is this an engineered downfall of the FF government?

Regards...jmcc
 
D

Deleted member 17573

I don't think FF are capable of criticising their masters. Kieran O'Donnell (FG finance spokesman) was shunted off the air by Mary Wilson just now, after we had to spend 10 minutes playing clips of the Price of Spin earlier. And what was the pressing item she wanted to get on to? The victorious hurling team's welcoming celeberation.
He was not shunted off the air - in fact the problem was that he used up his time waffling. What he said in regard to the solvency issue was that if they knew about it at the time the guarantee was being given they would not have supported its extension to Anglo's subordinated bonds. Otherwise no change, and since this has already been FG's line and since the subordinated bonds are a relatively small portion of the Anglo debts, and are only being repaid at a heavily discounted rate, he was effectively saying it would have made very little difference. If anybody thinks that FG are going to do anything very different from FF, sorry guys, vote for someone else!
 

PUFF DADDY

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budget date just announced - 7th Dec.

I can't help thinking this govt will fall before this, I think it is a matter of wks, it not just wishful thinking, I think they want out and hope to go and change leader, regroup and go for 2016.

On the thread topic, Gilmore was right it was and is economic treason and we will the ordinary decent citzens will NEVER know EXACTLY what happened on that fatal night
 

An Gilladaker

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I wonder is this an engineered downfall of the FF government?

Regards...jmcc
It may well wake up a few more people to the fact FF have ruined this country for the next 20 years but sadly most of them will remain asleep
 

Libero

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Kieran O'Donnell" said:
It is clear now that Anglo was insolvent, not just suffering a liquidity problem
Could someone tell KOD that in Ireland, insolvency - as a term of law - refers to either fundamental balance sheet insolvency or having an inability to pay bills as they fall due.

If FitzPatrick was highlighting the latter danger, it doesn't mean he was flagging the former one.
 

corelli

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Could someone tell KOD that in Ireland, insolvency - as a term of law - refers to either fundamental balance sheet insolvency or having an inability to pay bills as they fall due.

If FitzPatrick was highlighting the latter danger, it doesn't mean he was flagging the former one.
From memory the Minister for Finance, at the time, indicated it had a liquidity problem, as in not having sufficient money on hand for day to day purposes, but that it was NOT insolvent.

It was, from memory, the Government that made the distinction at the time.
 

SideysGhost

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He points out that the government will take on debt equal to 1/3rd of GDP
1/3?

Jaysus the mathematical illiteracy in the modern world is so damn infuriating. 33.3% of GNP on Anglo alone maybe, on a very good day if we're lucky.

The total cumulative debt from the FF budget deficit and FF banking policy will be over 150% of GNP.
 
D

Deleted member 17573

1/3?

Jaysus the mathematical illiteracy in the modern world is so damn infuriating. 33.3% of GNP on Anglo alone maybe, on a very good day if we're lucky.

The total cumulative debt from the FF budget deficit and FF banking policy will be over 150% of GNP.
Could you clarify whether you are talking about GNP or GDP - the previous poster referred to GDP but your response said GNP. Thank you:)
 
B

Boggle

Could someone tell KOD that in Ireland, insolvency - as a term of law - refers to either fundamental balance sheet insolvency or having an inability to pay bills as they fall due.

If FitzPatrick was highlighting the latter danger, it doesn't mean he was flagging the former one.
Why? Anglo was a basket case and we had a years warning but our idiot govt didn't care.

It'll be interesting to see this tonight but, to be honest, I've heard enough at this stage. There is something very rotten about the whole Anglo debacle and its about time people stopped pretending otherwise.
 


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