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Thread: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

  1. #16
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    Quote Originally Posted by SeanD6 View Post
    My quote of the day is Joan Burton's statement at the debate:

    "This Bill could probably teach the North Koreans a lesson in ministerial powers."
    I suggest a mutual education programme with North Korea. Last year, they put their finance minister in front of a firing squad for "failing the people".
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  2. #17
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    One line that caught my eye:

    Nothing in this Act affects the operation of the Asset Covered Securities Act 2001.
    Depfa ACS Bank issued tons of these 'securities, worth hundreds of billions. I wonder if the enactment of of this law played a role in the decision to move Depfa Bank from Wiesbaden to Dublin in 2002 and create this new subsidiary Depfa ACS Bank.

    They're still in business, here's a PDF from June 2010 regarding the issuance of ACS 'instruments', worth 20 billion.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  3. #18
    Kev Bar Guest

    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    Total - pls tell me that there is at least some sort of anti-insider trading fig leaf over the new whistleblower clause.

    100,000 and/or 3yrs for leaking the ministers thoughts or deeds.

  4. #19
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    I recall the US Treasury Secretary tried to put through legislation in congress which would have given him carte blanche to overrride other laws and was also written in such a way as he could not be held liable for anything afterwards.

    Essentially he could have pocketed a hundred million dollars and walked away. Ministers love emergency or rushed legislation which can be quietly tampered with in order to release them to do whatever they want with no comeback.

    Needless to say that legislation in the states never made it to the floor of congress.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  5. #20
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    Quote Originally Posted by Captain Con O'Sullivan View Post
    Needless to say that legislation in the states never made it to the floor of congress.
    Yes, the following provision (aka Section 8) was not included in the final version.

    "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
    Paulson should have asked Lenny the Barrister how it is done:

    (4) The following provisions of the Companies Acts:
    (a) sections 60(1), 72, 81 to 85 and 200(1) and Parts VI and VII of the
    Companies Act 1963;

    do not apply in relation to Anglo Irish Bank or its
    subsidiaries or subsidiary undertakings while the
    Minister or the Minister’s nominee is a member of
    Anglo Irish Bank.
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  6. #21
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    Quote Originally Posted by TotalMayhem View Post
    WF, here's a profile for Professor Hankel
    thanks TM
    "There are two ways to conquer and enslave a nation. One is by sword. The other is by debt." -- John Adams

  7. #22
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    Default Re: Credit Institutions (Stabilisation) Bill 2010 - IMF Sell-off of the Irish Banks ?

    The Constitutionality of this Bill is now being challenged by various groups of non-Irish shareholders.

    http://www.politicalworld.org/showthread.php?t=6090

    Our thread on the Oireachtas debate on the Bill

    http://www.politicalworld.org/showthread.php?t=6058
    Last edited by C. Flower; 02-08-2011 at 05:32 PM.

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