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IL&P put Billions on deposit in Anglo


Outlander

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Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.

It is understood the issue of how the deposit affected accounts at Anglo Irish is also being investigated by the financial regulator.

Sources have told RTÉ News that volatility in deposits in Anglo Irish Bank was one of the reasons the Government moved to nationalise it.
From RTE News
 
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Outlander

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Financial regulator investigating "deposit volatility" at Anglo immediately prior to nationalisaion.

Do we need more proof that the whole irish banking system is a festering rat's nest?

And our great leaders want to bail this septic mess out!

It's rentokill and dynorod that's needed not more billions.
 

yehbut_nobut

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up on rte now:
http://www.rte.ie/news/2009/0210/angloirish.html
Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.
It is understood the issue of how the deposit affected accounts at Anglo Irish is also being investigated by the financial regulator.
Sources have told RTÉ News that volatility in deposits in Anglo Irish Bank was one of the reasons the Government moved to nationalise it.
anyone cast any light on what might be going on?
 

orbit

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I've just been listening to it, open-jawed. The reporter just reported it as if it wasn't that big a deal. WTF is going on ? There are so many questions.
 
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Auditing 101- Pay particular attention to large and unusual transactions that occur close to year end. Alway check post-yr end accouts to see if there have been any large cash movements.
 

NewsBot

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Irish Life deposit in Anglo probed

Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.

More from RTE News.
 

yehbut_nobut

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RTE explaining now:

Sep 30 was Anglo's year end, (and also the date of the State Guarantee.)

EOY accounts showed that deposits grew between 2007 and 2008, thanks to this deposit made at the year end. Had it not been made, accounts would have shown overall deposits falling...
 

Outlander

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Looks like Anglo proping up the accounts for year-end... Share price manipulation comes to mind again?

Were IL&P complicit?
 
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jaysus, IL&P have a deposit to loan ratio of 100 to 260 or something like that - which is high, bordering on recklessly high

imagine if they'd lost the deposits as well ...

they would have sunk with Anglo
 
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Looks like Anglo proping up the accounts for year-end... Share price manipulation comes to mind again?

Were IL&P complicit?
Maybe they were and maybe they were not.....but what I want to know is who decided to put Jessica Simpson in charge of the auditing.....
 

Digout

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RTE explaining now:

Sep 30 was Anglo's year end, (and also the date of the State Guarantee.)

EOY accounts showed that deposits grew between 2007 and 2008, thanks to this deposit made at the year end. Had it not been made, accounts would have shown overall deposits falling...
So, now we have proof of 3 publicly quoted companies acting the maggot?
 

Simbo67

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Good timing for Enda demanding a meeting...

This is huge, what a f*cking mess.
 

stanley

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So, now we have proof of 3 publicly quoted companies acting the maggot?

Ring a ring a rosy and we all fall down.

Biffo has now got to pick who will stay and who will go and pick up the bill via the taxpayers.

As we speak he is heading to St Lukes/Beresford area, murder is in the air every night and every day, Bertie tailing it down to Fagins or maybe the Blue Door.
 

Digout

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Good timing me arse - Enda's got a mole.

About time!
Big time, there is now way Cowen would meet him normally, there is another thread on government minister dealings with anglo, I wonder is there more going on here? Does this explain why the government has not been doing so much recently because they knew what was coming?
 

Chrisco

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Big time, there is now way Cowen would meet him normally, there is another thread on government minister dealings with anglo, I wonder is there more going on here? Does this explain why the government has not been doing so much recently because they knew what was coming?
And why Lenihan has done a U-turn tonight to announce he's considering setting up a 'bad bank'?
 

Outlander

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Big time, there is now way Cowen would meet him normally, there is another thread on government minister dealings with anglo, I wonder is there more going on here? Does this explain why the government has not been doing so much recently because they knew what was coming?
It all depends on how much dirt FG been given - with a bit of luck FF will look like they've been caught in the dirty protest.
 

yehbut_nobut

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Remember gormley's words, the night before the Dail vote on nationalising Anglo:

"we must have the highest standards of tranparency and accountability. those who have brought our banking system into disrepute must be persued and punished and there can be no hiding place for those people."
 

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