Why have Banks not been charged over the Tracker Fiaso?

clearmurk

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Why have Banks not been charged over the Tracker Fiasco?

It is reported today that Central Bank staff “met the gardaí to discuss the tracker issue”.

And? Is there an investigation underway? Are there charges pending?

Or is this just another case of political policing?

Why do I say that? Because it seems to me that a situation where the head of the Gardai reports to the Minister for Justice leads to a situation where that Minister for Justice sets the priorities. And where you have a government so closely aligned with the bankers, is the prosecution of bankers going to be a priority?

Is this the real reason almost no white collar crime is pursued here?

Central Bank spoke to gardaí about tracker issue
 
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Sister Mercedes

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How many people can name the CB director of enforcement ?

If she was doing her job properly wouldn't she be better known?
 

*EPIC SUCCESS*

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How many people can name the CB director of enforcement ?

If she was doing her job properly wouldn't she be better known?
She is doing exactly what she was hired to do.

See my post above.

That's all it is.

From the link in the OP:

She (Derville Rowland) added that the bank would always consider taking action against senior bankers who were responsible in relation to the tracker mortgage issue.
Indeed. Always consider, never act.

A masterclass in BS right there.
 

clearmurk

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Per a segment on RTE Radio 1 this lunchtime, while the CB has talked with gardai on this matter, it has not made a report to the gardai due to lack of evidence.

I find this incredible. Either the banks have acted fraudulently in this matter or they have not. If they have not, why did they pay out more than 120 million in redress? Over 9000 customers to date have been impacted. How much more evidence is needed?

Are we in the same territory here as the fictional annual bank reports of 2007/2008?

More than

Gardaí consulted on tracker-mortgage scandal - no reports made yet
 

Sister Mercedes

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Presumably they have to talk down the clock until the statute of limitations expires. That's the way the CB usually carries on. I don't recall anybody being prosecuted for all the shenanigans at the credit unions either.
 

Lumpy Talbot

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No
The central bank is pretty much a lobbying organisation for the banks. Put it this way- Lenihan didn't fold the Financial Regulator's office into the Central Bank because it was a model of transparency.

It was just the best way to hide it and its records.
 

Lumpy Talbot

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No
The psychology just doesn't exist in Ireland to see bankers as white collar criminals. Nor are there sufficient or appropriate charges available on the statute book. They will never be charged with fraud. There never will be the correct white collar crime charges on the Irish statute books because half the Dail would be in danger at any given time.

It is always some lame ass charge at best under 'Company law'. There was wholesale fraud going on at a number of Irish banks in the mid-to-late noughties, backstairs loan applications where the shareholders were effectively defrauded of collateral protection, you name it.
 

Franzoni

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The psychology just doesn't exist in Ireland to see bankers as white collar criminals. Nor are there sufficient or appropriate charges available on the statute book. They will never be charged with fraud. There never will be the correct white collar crime charges on the Irish statute books because half the Dail would be in danger at any given time.

It is always some lame ass charge at best under 'Company law'. There was wholesale fraud going on at a number of Irish banks in the mid-to-late noughties, backstairs loan applications where the shareholders were effectively defrauded of collateral protection, you name it.

Even if they did end up sending a few down for some porridge no doubt we would see a raft of medical conditions that would allow for early release and a miraculous cure soon afterwards....
 

im axeled

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It is reported today that Central Bank staff “met the gardaí to discuss the tracker issue”.

And? Is there an investigation underway? Are there charges pending?

Or is this just another case of political policing?

Why do I say that? Because it seems to me that a situation where the head of the Gardai reports to the Minister for Justice leads to a situation where that Minister for Justice sets the priorities. And where you have a government so closely aligned with the bankers, is the prosecution of bankers going to be a priority?

Is this the real reason almost no white collar crime is pursed here?

Central Bank spoke to gardaí about tracker issue
we all saaw what happened during a high profile caase involving a banker, the cop in charge of the investigation shredded the most importand evidence he had, he is still in charge of the case, anywhere else he would be without a job and a pension
 

clearmurk

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The argument from some quarters seems to be that it was all just an honest mistake, which just happened to nicely advantage the banks, and substantially disadvantage their customers. Not fraudulent at all. Incredible.

Maybe the next shop-lifter should try that when they are prosecuted and see how far they get.
 

cozzy121

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It is reported today that Central Bank staff “met the gardaí to discuss the tracker issue”.

And? Is there an investigation underway? Are there charges pending?

Or is this just another case of political policing?

Why do I say that? Because it seems to me that a situation where the head of the Gardai reports to the Minister for Justice leads to a situation where that Minister for Justice sets the priorities. And where you have a government so closely aligned with the bankers, is the prosecution of bankers going to be a priority?

Is this the real reason almost no white collar crime is pursued here?

Central Bank spoke to gardaí about tracker issue
This is Ireland, where firstly ff and since fg have sold out to the banks and screwed over the irish people.

No 1 hair on 1 bank executives head will be harmed.
 

TheWolf

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It is reported today that Central Bank staff “met the gardaí to discuss the tracker issue”.

And? Is there an investigation underway? Are there charges pending?

Or is this just another case of political policing?

Why do I say that? Because it seems to me that a situation where the head of the Gardai reports to the Minister for Justice leads to a situation where that Minister for Justice sets the priorities. And where you have a government so closely aligned with the bankers, is the prosecution of bankers going to be a priority?

Is this the real reason almost no white collar crime is pursued here?

Central Bank spoke to gardaí about tracker issue
We don't prosecute 'white collar' crime in Ireland.
There is no sanction for those in the know.
 

clearmurk

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The psychology just doesn't exist in Ireland to see bankers as white collar criminals. Nor are there sufficient or appropriate charges available on the statute book. They will never be charged with fraud. There never will be the correct white collar crime charges on the Irish statute books because half the Dail would be in danger at any given time.

It is always some lame ass charge at best under 'Company law'. There was wholesale fraud going on at a number of Irish banks in the mid-to-late noughties, backstairs loan applications where the shareholders were effectively defrauded of collateral protection, you name it.
While it is evident that the will is currently absent, indeed bordering on collusion, I would think that any lawyer half worth their salt should have no difficulty identifying the nature of the fraud that has been pursued here.

Remember, these institutions have the protections of a person. There should be no reason that the responsibilities of a person should not apply. The criminal justice acts have no shortage of clarity, regarding effect or intent.
 

gerhard dengler

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It will be very interesting to see if anything comes from the disclosures in this programme. Paul Tucker at the BOE, and the former head honchos at Barclays have questions to answer.
 


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