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Thread: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

  1. #196
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    Quote Originally Posted by PaddyJoe View Post
    I don't recall this particular piece of info before. Certainly Anglo were looking for money from the CB at the time but I don't remember any mention of this cash on the night of the guarantee.
    Was this by any chance something that had also happened on at least one other Sept ? The previous year ?
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  2. #197
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    The Oireachtas Banks Inquiry report is out and confirms what we have said here for years - that the Bank Guarantee had been planned many weeks in advance .....not an overnight decision at all.
    334 pages in the report.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  3. #198
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    http://www.irishtimes.com/business/f...raud-1.2738637

    Three bankers were jailed yesterday for the end of year 7 billion 'back to back' loans that were misrepresented by Anglo Irish as customer deposits.

    The judge remarked it seems on the involvement of the Regulator and Central Bank. Also, Ernst and Young, the auditors.

    No arrests as yet in those quarters.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  4. #199
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    Quote Originally Posted by C. Flower View Post
    I've just produced this new timeline of the Bank Guarantee. The biggest surprise to me in putting it together is the extent to which the ECB, the NTMA, and the Regulator had been stuffing money into two very sick banks from 2007 on, with no public knowledge about it.
    Just noting here the conviction of David Drumm, CEO of Anglo Irish in the relevant time period, for fraud, in the Dublin Courts last week. The matter concerned the dressing up of 'back to back loans' as customer loans, thus misrepresenting the strength of the bank. Any attempts at defending Drumm's actions by pointing out that he was encouraged to "don the green jersey" by the Regulatory Authorities was quickly stamped on the head by the Judge.

    https://www.independent.ie/irish-new...-36965049.html

    Timely to re-read the timeline in the first pages of this thread, if anyone wants to refresh their knowledge of the whole ghastly debacle , which has cost many lives, from suicide, and cuts to services.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  5. #200
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    +1 but what strikes me following the Drumm affair is did he not realise way back that he would be made carry the can? Fitzer got off, a couple of morons in the bank got some time (under appeal?), a compliant judge shreds the green jersey.

    He ducks off to the US, but, unusually, he loses an extradition case.

  6. #201
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    Default Re: The Bank Guarantee and Anglo Irish Timeline - the Full Monty

    Just a reminder, on the tenth anniversary of the Irish Bank Guarantee, that we have a full subforum of interesting threads on the Guarantee. Ten years ago I was posting on Machine Nation on the Guarantee - that thread had some grasp of the implications. On Politics.ie, there was a general view that day that the Guarantee would fix everything.
    I lot of people have died, emigrated, been made homeless, impoverished and otherwise impacted by the bubble and guarantee.
    Not much has changed in banking governance, or in the economic system that regularly produces massive bubbles and crashes.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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