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Irish Life & Permanent Board responds to Lenihan

Utopian Hermit Monk

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Yesterday, Brian Lenihan summoned Board Chairperson, Gillian Bowler and Group Chief Executive, Denis Casey to his office. Later, on Primetime, Mr. Lenihan declined to say whether he had asked for their resignations, but said that he had told them that he expected the Board to carry out its responsibilities.

Richard Bruton stated bluntly that the Board should resign. Primetime panelists (including David McWilliams and Dan O'Brien) interpreted Lenihan's comments as a clear signal to the Board that he expected the top people to resign.


The IL&P Board have now responded.

It seems that the possibility of Ms. Bowler's resignation was not even discussed.
Mr. Casey's resignation was offered, and refused by the Board.

Instead, two 'lower downs', including the Group Finance Director, are taking the rap.

(source: RTE Radio 1 News - no audio or text link available yet)


Surely this is not what Lenihan intended?!
 


LeftOfCentre

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UHM . . Whats the source of this?

& what is '' taking the wrap''? . . . . . Is it sacking for gross misconduct? . . Fraud investigation? . . . Or just a pay off and a nudge and a wink?
 

Utopian Hermit Monk

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The source (RTE) is included in the first post

No details yet on whether the two who resigned did so voluntarily or otherwise (and no details on whether they will depart with yet more 'golden handshakes').
 

LeftOfCentre

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Thanks! sorry thought the bit in brackets was a sig and didn't read.

Hate to be part of the ''off with their head'' brigade but I'm sick of these people

1. getting away with reckless malevolent behavior

2. expecting the state to clean up their mess.

I know ILP are not part of the recapitalisation, , , , but there wouldn't be a single banking exec earning over 11k a year (the dole!) if it wasn't for the state propping them up or guaranteeing their deposits & liabilities!
 

Victor Meldrew

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Hate to be part of the ''off with their head'' brigade but I'm sick of these people
1. getting away with reckless malevolent behavior
2. expecting the state to clean up their mess.

I was gob smacked by this. but on reflection I realise that was niaive of me. The govt. lost it's authority once it;
- Rolled back on the badly thought out budget,
- Failed to reduce its excesses in salaries,
- Failed to enact legislation on paying ministerial pensions to sitting TDs
- Failed to curb Junior ministries despite Junior Ministers saying their roles were a joke.

I picked those 4 as they are low hanging fruit the govt could have done with no effort.
No leadership, no backbone, no respect. so ILP take no notice of them.

In fact, there is a very strong case for the govt having as much contempt for the public as the 82% who are dissatisfied in the latest poll.
 

Digout

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Why should they resign? They were doing what they were told to do by the regulator.
 

Outlander

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True, I wonder who else knew? Was the guarantee only brought in to facilitate this transaction?
Remember the 11th hour extension of the guarantee to Anglo - against dept. finance and central bank advice
 

Outlander

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This was all back when Seanie was in charge.

Connections with the DDDA?

Various ministers' refusals to comment about personal dealings with Anglo
 

LeftOfCentre

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Another Consideration !

Was Neary's Pay off and pension hush money ? ? What was it defended so strongly by FF? . . What was he asked to do?
 

carlovian

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Talk about 2 fingers to Lenihan.

Love the way that ILP blame the regulator and Central bank who told all the banks to support each other.

Ball back in your court minister !!!
 

Digout

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No doubt that Lenihan will do a Harney, i.e. "thats the HSE's fault, not mine, nothing to do with me, move along now"
 

LeftOfCentre

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By offering his resignation he was accepting some wrong doing.

By not accepting it the board a complicit.

Who are they ? . . . are their positions Tenable?
 

Digout

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By offering his resignation he was accepting some wrong doing.

By not accepting it the board a complicit.

Who are they ? . . . are their positions Tenable?
Maybe he is an hounourable man and offered it on a point of principle, i.e. "I'm the head guy and I carry the can".
 

Louth Planner

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Jan 14, 2008
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Yesterday, Brian Lenihan summoned Board Chairperson, Gillian Bowler and Group Chief Executive, Denis Casey to his office. Later, on Primetime, Mr. Lenihan declined to say whether he had asked for their resignations, but said that he had told them that he expected the Board to carry out its responsibilities.

Richard Bruton stated bluntly that the Board should resign. Primetime panelists (including David McWilliams and Dan O'Brien) interpreted Lenihan's comments as a clear signal to the Board that he expected the top people to resign.


The IL&P Board have now responded.

It seems that the possibility of Ms. Bowler's resignation was not even discussed.
Mr. Casey's resignation was offered, and refused by the Board.

Instead, two 'lower downs', including the Group Finance Director, are taking the rap.

(source: RTE Radio 1 News - no audio or text link available yet)


Surely this is not what Lenihan intended?!

Those that5 should take the wrap are the ones who were involved in the Anglo issue. If it were those 2, then fair enough, but if others were involved, or knew about it and stayed silent, they should go too. And there should be no golden handshake, golden handcuffs more like...make that steel, not gold.
 


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