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Thread: Dublin Docklands Development Authority to be wound up-Update: DDDA's questionable deal with U2

  1. #16
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Richardbouvet View Post
    There might have been some half-decent investigations if the Oireachtas enquiries referendum had been passed. We could have had the likes of Joe Higgins and Shane Ross roasting these chancers over a spit.

    However, the people in their wisdom voted no to that.

    (Is it ever to be my lot to be on the losing (but right) side in every decisive referendum?)
    I know the feeling! Referenda are useless in many respects. A power of decision is given to ill-informed people and when that decision is wrong there is a double whammy:

    1. It is enshrined in the Constitution
    2. The politicians can say "The people have spoken"

  2. #17
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    Default Re: Dublin Docklands Development Authority to be wound up

    Good thing we have Civil Servants on boards and pay them so much

    A SENIOR civil servant in the Department of the Environment was a board member of the Dublin Docklands Development Authority (DDDA) when it decided to pay more than €400m for the Irish Glass Bottle site in 2006.

    Mary Moylan, currently serving as assistant secretary in the department with responsibility for finance, sat on the DDDA executive board in 2006 when it decided to spend millions of euro of taxpayers' money on a speculative land deal.
    It also found that the Department of the Environment was told the value of the site was about €220m, despite a price of €400m being discussed at board level. The department was never told when a decision was made to double the bid amount previously indicated.

    Serious questions now surround the role that Ms Moylan played in the decision to go ahead with the purchase.
    The department also refused to say if Environment Minister Phil Hogan would ask Ms Moylan to explain her role.
    http://www.independent.ie/national-n...t-3125988.html
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  3. #18
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    Default Re: Dublin Docklands Development Authority to be wound up

    Lets hope there is a full enquiry into this, and Cowen's role be exposed for what he did.

  4. #19
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Digger Out View Post
    Lets hope there is a full enquiry into this, and Cowen's role be exposed for what he did.
    I can't see FG wanting a full investigation

    Had they been in charge, the only difference would have been the people involved. The practices would have been the same
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  5. #20
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by DCon View Post
    I can't see FG wanting a full investigation

    Had they been in charge, the only difference would have been the people involved. The practices would have been the same
    Not really, FF had every builder and developer in their pocket like a handkerchief.

  6. #21
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Digger Out View Post
    Not really, FF had every builder and developer in their pocket like a handkerchief.
    FG have also (as we know from Mahon and Moriarty) been breaking bread at the same developers and others tables.
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  7. #22
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Digger Out View Post
    Not really, FF had every builder and developer in their pocket like a handkerchief.
    Not all of them but most big names developers. Know one builder in my area as he was a staunch FF supporter. Back in 2008, he invited B Ahern to cut the tape to announce brand new apartments as if he has no shame.

    However he was caught by the taxman and paid heavily with penalties plus interests re off shore accounts. One thing they found out was they had used false first names as it was a scam. Even their daughter was caught but she used false 1st name. Now that builder went into semi retirement and left his business to his sons with huge debts. It was his sons who created more debts by going reckless with their spending on luxury goods and their high lifestyle. So much for the boom and FF.

    When i saw their accounts as it was a tangle of legal web of companies designed to minimise tax.. Holding company....along specific company for sales.. others investment vehicle so on. That's the way some builders operated it through with the help of their lawyer and also tax advisor as well.
    Last edited by disability student; 02-06-2012 at 04:23 PM. Reason: typo

  8. #23
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    Default Re: Dublin Docklands Development Authority to be wound up

    Just a reminder of the "tangled web"

    Figure 15 -

    http://www.tascnet.ie/upload/file/MtGC%20ISSU.pdf

    5.6 The current controversy over the performance of the Dublin Docklands Development
    Authority (DDDA), a State Development Agency, and its ties to Anglo Irish Bank is a
    salient example of the degree to which the boundaries between the public and the private
    sectors have become blurred, with consequences which are inimical to the public interest.
    DDDA chair, Niamh Brennan, who was appointed to the post in March 2009, noting
    the involvement of Sean FitzPatrick and Lar Bradshaw on the boards of the DDDA and
    Anglo Irish Bank, said that because of Anglo’s influence, the DDDA “became very focused
    on development and used planning to facilitate and encourage development” and that
    “The association between Anglo and the DDDA has not served the authority well.”(The
    Sunday Tribune, 14 March 2010). The links between the DDDA and private companies are
    highlighted in Figure 15.

  9. #24
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Digger Out View Post
    Not really, FF had every builder and developer in their pocket like a handkerchief.
    But if FG were in power, they would have attracted the Developers and their pieces of silver

    The results would be the exact same
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  10. #25
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    Default Re: Dublin Docklands Development Authority to be wound up

    Phil Hogan attacking Cowen's role in February 2010:
    Fine Gael has claimed it took Brian Cowen, then in the position of Minister for Finance, just three weeks to approve a multimillion euro loan extension to the Dublin Docklands Development Authority (DDDA) for the purchase of the controversial Irish Glass Bottle Site.

    The party’s environment spokesman Phil Hogan said that minutes of DDDA board meetings seen by him had showed that in October 2006, Cowen took just 21 days to grant a loan extension to the DDDA.
    http://www.businessandleadership.com...en-approved-dd

  11. #26
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    Default Re: Dublin Docklands Development Authority to be wound up

    And now we have NAMA getting into the "divilipmint" game.
    Has any thing changed?

  12. #27
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    Default Re: Dublin Docklands Development Authority to be wound up

    The PAC are discussing the DDDA report tomorrow at 10am. John McGuinness:
    We will be keen to find out the exact financial position of the DDDA today and a key issue for the Committee is that we have to have accountability. Among the issues we will want to examine are: what is the total Exchequer funding provided to the Authority since its establishment? Has the Exchequer given any letters of comfort in relation to the borrowings of the DDDA? How did we end up in a situation where the purchase of assets is being financed by short term debt? What are the terms of the current banking arrangements of the Authority? Has the Authority attempted to seek Exchequer funding again as an alternative to the expensive overdraft facility?”
    http://www.oireachtas.ie/parliament/...e-8333-en.html

  13. #28
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    Default Re: Dublin Docklands Development Authority to be wound up

    Hogan has written to the PAC asking them hold off on hearings until legal actions are concluded:
    THE PUBLIC Accounts Committee has been asked by Minister for the Environment Phil Hogan to stand down its investigation the involvement of the Dublin Docklands Development Authority (DDDA) in the purchase of the Irish Glass Bottle site in Ringsend because of its possible impact on a separate legal battle on the acquisition.
    Donatex and developer Bernard McNamara, who were part of the consortium, are suing the DDDA in the High Court, for a sum reported to be €100 million. Mr Hogan, in his letter, said he wished to postpone the inquiry until legal proceedings conclude.
    http://www.irishtimes.com/newspaper/...319342440.html

  14. #29
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by PaddyJoe View Post
    Phil Hogan attacking Cowen's role in February 2010:

    http://www.businessandleadership.com...en-approved-dd
    21 days to ask Bertie what to do?

    Cowen must have been drunk for 20.5 of those days
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  15. #30
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    Default Re: Dublin Docklands Development Authority to be wound up

    Quote Originally Posted by Digger Out View Post
    Not really, FF had every builder and developer in their pocket like a handkerchief.
    Judging by the purpose of the Galway Tent, you might find that that was the other way around.

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