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The late late show tommorrow night: a debate debt and resolutions. Dearbhail McDonald, David McWilliams, David Hall, Brendan Burgess


murtaep

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Jun 6, 2011
Messages
329
The late late show tommorrow night: a debate debt and resolutions. Dearbhail McDonald, David McWilliams, David Hall, Brendan Burgess

Brendan Burgess, Founder, Ask About Money (askaboutmoney.com)

Sunday Times Money section, 31 July 2005:
"The lenders who have come up with the 100% [mortgage] have balanced the risk. Of 100 people that take out these mortgages, maybe 95 will be okay and five will get in serious trouble and the banks can take care of that trouble."

AskAboutMoney.com post, 8 Nov 2006:
"You can find extensive, informed, articulate, balanced and entertaining commentary on the impending collapse of the Irish property market [at thepropertypin.com]."

AskAboutMoney.com post, 9 Nov 2006:
"Further speculation about the future direction of house prices is banned on Askaboutmoney."

Irish Independent, 18 August 2007:
"I would invest in AIB or Bank of Ireland rather than putting money on deposit with them."

Oireachtas Joint Committee on Economic Regulatory Affairs, 10 June 2008:
"The Financial Regulator supervises the solvency and liquidity of Irish financial institutions very well. Irish banks are conservative in their lending and none has been exposed directly to the subprime lending problems although all are suffering from the subsequent credit crunch. The Financial Regulator seems to have been well ahead of the game on liquidity reporting. [...] The Financial Regulator has won international recognition for its appropriate regulatory regime for the funds industry. It does not overregulate or underregulate; it gets it about right."

RTE News, 16 September 2008:
"Irish banks are very well regulated, Irish banks are very sound.....(On the late late show 27th of October 2012 in response to David McWilliams Brendan Burgess said that it was obvious in 2008 that the banks were in serious trouble.) we're going to look back in a few years at the state of Irish banks [and ask] how did we not fill our shoes with those shares?"

AskAboutMoney thread, January 2009:
"Pat Neary distinguished himself as the Prudential Director of the Financial Regulator before he was appointed. Had I been on the interview panel, I would certainly have chosen him ahead of a 27 year old recent PhD graduate.
The academic qualifications of someone at a very senior level are of little relevance.
Sorry, I pay no attention whatsoever to Morgan Kelly who suggested burning the €1.5 billion instead of putting it into Anglo."

AskAboutMoney post, 14 January 2009:
"More sensational stuff from Morgan Kelly in yesterday's Irish Times:
Apparently we are going to be demolishing houses now instead of building them.
But I suppose it gets headlines."

Sunday Times Money, 8 Mar 2009:
"If you’ve a real need to buy now – for example, if you are starting a family – don’t allow the fact that your job is a bit uncertain to put you off. If the worst happens, the government has ordered AIB and Bank of Ireland to lay off homeowners in arrears for at least a year, while other lenders must give them a six-month breather."

AskAboutMoney.com post, 3 June 2009:
"I still believe, that as a general rule, it is a good idea to buy your own home. With the benefit of hindsight, this would not have been a good idea over the past 5 years.
I have made it very clear that, with hindsight, it would have made much more sense over the past few years to rent rather than buy."

AskAboutMoney.com post, 11 Oct 2009:
"People ask now why did we not listen to the economists who warned of the housing bubble and the economic crash? Their warnings were dressed up in such stupid, sensationalist language, that it would have been like taking the economic forecasts of the Sunday World seriously."

AskAboutMoney.com post, 21 Dec 2009:
(In response to a Financial Regulator Consumer Panel report which accused the FR of failing to "adequately intervene to deflate a highly visible property bubble"):
"I just don't agree that we had a "highly visible property bubble".

AskAboutMoney.com post, 22 Dec 2009:
"The paperwork for money laundering is hugely inappropriate. Under the law, Charlie McCreevy would have had to provide a passport and two utility bills. Everyone in the Irish Nationwide knew him. I would have no problem with them not complying with this law."

on Wednesday 04th August 2010 "its a nice time to buy property because you are not bidding against a load of people."

TodayPK20100714 Pt. 3/3 - YouTube
Fill Yer Shoes - YouTube
RTE News, 16 Sep 2008
Brendan Burgess, askaboutmoney.com on banks and shares, RTE News, 16 Sep 2008 - YouTube

I think what sickens me most about this guy is the fact that he continuely slandered Morgan Kelly (saying such things like: "he just wants to get in the headlines", which couldn't be futher from the truth)
Morgan Kelly is a real proven economist (who tried to warn us), this guy Burgess is a chancer.

Should this man be continualy be given airtime by RTE and should the government be paying him for advice?
The fact that he is still well connected seems to outweigh his poor advice he gives, shown above.

Why would anyone take debt advice from this cheerleader of the property boom, who had a helping hand in creating life long debt slaves out of a large protion of society?


Morgan Kelly at his best
http://www.youtube.com/watch?v=11CCxv2ueiQ&feature=player_embedded

Constantin Gurdgiev analysis of Burgess's performance and the real truth on the mortgage crisis:
Constantin Gurdgiev ‏@GTCost
Only @RTE would allow such a gross distortion of publicly available data! Here's the actual data True Economics: 23/8/2012: Mortgages Arrears in Ireland - Q2 2012 #latelate

Constantin Gurdgiev ‏@GTCost
Actual mortgages at risk - latest data: http://******/SeHscC | #latelate

Constantin Gurdgiev ‏@GTCost
60,000 people in 90+ days arrears per Burges? Really? http://******/PJOzYl that's CB of Ireland data. #latelate

Constantin Gurdgiev ‏@GTCost
No - the ONLY the could get. RT @carolmhunt: Was yer man burgess the best they could get? #lls

Constantin Gurdgiev ‏@GTCost
'A lot is done for people in arrears'? This is a complete and comprehensive LIE! #latelate

Constantin Gurdgiev
Total number of mortgages in arrears in Ireland is 128,416 (16.86% of all mortgages outstanding) and these amount to €24.01 billion (21.44% of all outstanding balances).
Using old definition of mortgages at risk (>90 days arrears), the trend up is linear, implying a constant rise in mortgages risk. Even abstracting away from the possible effects of the new insolvencies legislation on mortgages defaults, the trend suggests that by Q1 2013 we will be close to 150,000 mortgages at risk (using in arrears more than 90 days metric). This would push overall mortgages at risk to beyond 200,000. More than half a million Irish people will be living in households at risk of falling behind on their mortgages repayments. The question I would like to ask of our 'leaders' is "Then, what?"
 
Last edited:


Northtipp

Well-known member
Joined
Nov 23, 2010
Messages
22,217
Ohhhhhhh Wolfe wont be happy. Arent the LLS threads normally started by him. :)
 

TODevastated

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Joined
Oct 9, 2009
Messages
1,334
Brendan Burgess, Founder, Ask About Money (askaboutmoney.com)

Sunday Times Money section, 31 July 2005:
"The lenders who have come up with the 100% [mortgage] have balanced the risk. Of 100 people that take out these mortgages, maybe 95 will be okay and five will get in serious trouble and the banks can take care of that trouble."

AskAboutMoney.com post, 8 Nov 2006:
"You can find extensive, informed, articulate, balanced and entertaining commentary on the impending collapse of the Irish property market [at thepropertypin.com]."

AskAboutMoney.com post, 9 Nov 2006:
"Further speculation about the future direction of house prices is banned on Askaboutmoney."

Irish Independent, 18 August 2007:
"I would invest in AIB or Bank of Ireland rather than putting money on deposit with them."

Oireachtas Joint Committee on Economic Regulatory Affairs, 10 June 2008:
"The Financial Regulator supervises the solvency and liquidity of Irish financial institutions very well. Irish banks are conservative in their lending and none has been exposed directly to the subprime lending problems although all are suffering from the subsequent credit crunch. The Financial Regulator seems to have been well ahead of the game on liquidity reporting. [...] The Financial Regulator has won international recognition for its appropriate regulatory regime for the funds industry. It does not overregulate or underregulate; it gets it about right."

RTE News, 16 September 2008:
"Irish banks are very well regulated, Irish banks are very sound..... [...] we're going to look back in a few years at the state of Irish banks [and ask] how did we not fill our shoes with those shares?"

AskAboutMoney thread, January 2009:
"Pat Neary distinguished himself as the Prudential Director of the Financial Regulator before he was appointed. Had I been on the interview panel, I would certainly have chosen him ahead of a 27 year old recent PhD graduate.
The academic qualifications of someone at a very senior level are of little relevance.
Sorry, I pay no attention whatsoever to Morgan Kelly who suggested burning the €1.5 billion instead of putting it into Anglo."

AskAboutMoney post, 14 January 2009:
"More sensational stuff from Morgan Kelly in yesterday's Irish Times:
Apparently we are going to be demolishing houses now instead of building them.
But I suppose it gets headlines."

Sunday Times Money, 8 Mar 2009:
"If you’ve a real need to buy now – for example, if you are starting a family – don’t allow the fact that your job is a bit uncertain to put you off. If the worst happens, the government has ordered AIB and Bank of Ireland to lay off homeowners in arrears for at least a year, while other lenders must give them a six-month breather."

AskAboutMoney.com post, 3 June 2009:
"I still believe, that as a general rule, it is a good idea to buy your own home. With the benefit of hindsight, this would not have been a good idea over the past 5 years.
I have made it very clear that, with hindsight, it would have made much more sense over the past few years to rent rather than buy."

AskAboutMoney.com post, 11 Oct 2009:
"People ask now why did we not listen to the economists who warned of the housing bubble and the economic crash? Their warnings were dressed up in such stupid, sensationalist language, that it would have been like taking the economic forecasts of the Sunday World seriously."

AskAboutMoney.com post, 21 Dec 2009:
(In response to a Financial Regulator Consumer Panel report which accused the FR of failing to "adequately intervene to deflate a highly visible property bubble"):
"I just don't agree that we had a "highly visible property bubble".

AskAboutMoney.com post, 22 Dec 2009:
"The paperwork for money laundering is hugely inappropriate. Under the law, Charlie McCreevy would have had to provide a passport and two utility bills. Everyone in the Irish Nationwide knew him. I would have no problem with them not complying with this law."

on Wednesday 04th August 2010 "its a nice time to buy property because you are not bidding against a load of people."

TodayPK20100714 Pt. 3/3 - YouTube
Fill Yer Shoes - YouTube
RTE News, 16 Sep 2008
Brendan Burgess, askaboutmoney.com on banks and shares, RTE News, 16 Sep 2008 - YouTube

I think was sickens me most about this guy is the fact that he continuely slandered Morgan Kelly (saying such things like: "he just wants to get in the headlines", which couldn't be futher from the truth)
Morgan Kelly is a real proven economist (who tried to warn us), this guy Burgess is a chancer.

Should this man be continualy be given airtime by RTE and should the government be paying him for advice?
The fact that he is well connected seems to outweigh his poor advice, shown above.
don't tell me that gob************************ is connected to miriam (the only person in rte capeable of clicking a mouse for the switch over-everytime i turn on rte or the radio she is bloody there)
 

Marvar88

Well-known member
Joined
Dec 13, 2010
Messages
2,926
When I am finished work for the week, I either go out or if I do stay in, I just want to watch something light. Graham Norton suits me down to the ground.

I don't get why so many people still watch this show. What type of show does it want to be? It doesn't seem to know itself. Is it entertainment? Is it current affairs?

It is a mess in my opinion. Friday Night seems to be an odd time time to have such serious debates.
 

Edo

Well-known member
Joined
May 12, 2007
Messages
3,052
ah Brendan and AAM.................those were the days

A Younger Edo from 2006 on the notorious Ask About Money thread about house prices which resulted in Brendan banning the lot of us for variable periods of time and was directly responsible for the birth of the the Property Pin website.........

Current public sentiment towards the housing market? - Page 95 - Askaboutmoney.com

.............I believe there is 18 months at least left in this bull run. A couple of swallows dont make a summer. Among the rational persons in our population yes the sentiment is changing - but they aren't the ones who are driving this bubble.
The vested interests concerned will ensure that they can wring every last cent out of this and to hell with the future.

Regardless of what the ERSI, IMF or anyother financial commentator says I will guarantee you that Bertie our beloved leader, will be going around like an arsonsist on LSD to ensure the flames of this "boom" are burning brightly for the election - its on the only chance hes got - the next budget will be a giveaway regardless of all the downplaying, the next round of benchmarking will be a disgrace to all the rest of us who actually have to earn a living. the banks will be out to earn their christmas bonuses and will come up with even more elaborate ways to loan you money to keep their shareholders happy - and the great financially unwashed will still be saying you can't lose on property and get in there while you can and i really think interest rates will have to increase by another 2% at least to have any meaningful effect - When it comes to the property scenario in this country at the mo - we are not dealing in logic or rational.

the crunch will come as the US economy starts sliding - next year - its not looking good ( look at other thread for this)

Armageddon in late 2008/2009
Ah Yes!!

Always thought that Brendan was scared sh^tless of getting on the wrong side of the property lobby at the time.............he took at the DGBS rule to the nth degree......there is no question that he was put under almighty pressure over that thread.......especially when people started quoting from it on the radio............. if he didn't believe in what was said on the thread - why did he shut it down?
 

jo9jo

Well-known member
Joined
Mar 25, 2011
Messages
4,895
Ohhhhhhh Wolfe wont be happy. Arent the LLS threads normally started by him. :)
Second week running that the LLS thread has not been started by Wolfie.
BTW, he was last seen massaging goats piss into his scalp and taking a lift from a piss head.
 

dent

Well-known member
Joined
Mar 2, 2007
Messages
5,462
When someone is so vehement that Black is indeed the brightest white anyone has ever seen, you have to wonder why they are saying this, when it is clearly a mad thing to say. What have they got to hide ? Massively overextended themselves perhaps ?
 

Radix

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Joined
Aug 31, 2010
Messages
10,030
There's a craze for land everywhere." John B Keane

"It's my field." The Bull Mc Cabe

"I will electrify." E. Kenny

"Now is the time to buy." Daft.ie

"Buy now, pay later." H. Norman

"The boom is getting boomier." B. Ahern

From the size of the boom you can predict the size of the bust... it's going to fall." M. Kelly

"Frankly, I don't know why people like that don't commit suicide." B. Ahern

"We cover all our loans in a belt and braces way". S. Fitzpatrick

"Irish banks are well capitalised." P. (Green Jersey) Neary

"We all decided to have this boom." B. Lenihan

"Middle Ireland can take no more financial pain." J. Burton

"Pacta sunt servanda." O. Rehn

"This is the defining civil rights issue of our time." E. Gilmore

"Ireland is a special case." A. Merkel and E. Kenny

“Ireland is a series of stories it tells itself. None of them are true.” Anne Enright

"The Irish are not a serious people." C. McCarthy

Kinda says it all really...
 

Lonewolfe

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Joined
May 4, 2011
Messages
17,457
A zinger of an OP!

Although the thread title makes no sense.
It is a stonker of an OP and it's unusual that anyone other than me would bother to post an LLS thread - 24 hours before the show;)

Now, the problem is this should be a golden opportunity for some to have new arses ripped for themselves. Unfortunately Tubs just isn't up to it.
 

ShoutingIsLeadership

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Joined
Jan 17, 2011
Messages
50,433
It is a stonker of an OP and it's unusual that anyone other than me would bother to post an LLS thread - 24 hours before the show;)

Now, the problem is this should be a golden opportunity for some to have new arses ripped for themselves. Unfortunately Tubs just isn't up to it.
Will it clash with Conrad Black on HIGNFY?
 

Man or Mouse

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Joined
Nov 17, 2010
Messages
7,069
It is a stonker of an OP and it's unusual that anyone other than me would bother to post an LLS thread - 24 hours before the show;)

Now, the problem is this should be a golden opportunity for some to have new arses ripped for themselves. Unfortunately Tubs just isn't up to it.
If Carlsberg did wimps.....................Tubs.
 

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