Daily Mail article on Anglo Irish Bank… November 6, 2010
Posted by WorldbyStorm in Economy, The Left, Uncategorized.trackback
…interesting piece in the Daily Mail by Senan Moloney and Jason O’Toole which implies (on foot of an anonymous interview with an Anglo-Irish director, that ‘Cowen “Did Know About Anglo Debts”‘.
You’ll find much of the meat on this thread on politics.ie, but given the week that’s in it this is yet further bad news for the Government and adds to the general mood music, whatever the accuracy of the reports.
A typical quote from the piece:
Brian Cowen was ‘acutely aware’ of a threat to Anglo Irish Bank months earlier than he has admitted, a former director has sensationally claimed.
He also alleges that Sean Fitzpatrick was brought into the Taoiseach’s inner circle as early as 2007, a full year before the infamous bank bailout. And the disgraced chairman even sat in on ‘kitchen cabinet’ meetings as Mr Cowen plotted for power. And Mr Cowen ‘intervened with the National Treasury Management Agency to get them to deposit with Anglo Irish – but they didn’t.
The former Anglo director insisted that, at the time Mr Fitzpatrick joined Mr Cowen’s kitchen cabinet in late 2007, the ‘writing was on the wall’ for the bank. Mr Cowen has always denied knowing that Anglo’s position was seriously jeopardised until September 2008.
What I find interesting about that assertion is that we know only shortly before Fitzpatrick departed in disgrace he was making speeches such as this, something that would indicate a degree of confidence that he could say what he liked and a belief (albeit this is implied) that he would be listened to.
Or perhaps it was simply the expression of his class interest, reflective of and reflecting the tropes that are bandied about so easily by those in those circles.
You’d wonder if Biffo can survive this…
It’s trouble heaped on trouble… For sure.
Astonishing report … and very believable.
If the p.ie thread you linked to is to be believed, lots of the posters there who fancy themselves to be ‘in the know’ reckon this was ‘common knowledge’ in some circles for two years now. If that’s true, journos must have known, which makes you wonder at the timing: along with the story in yesterday’s Echo, maybe the formerly tame media is turning decisively? Which really just proves the papers haven’t been doing their notional job for a long time.
lots of the posters there who fancy themselves to be ‘in the know’ reckon this was ‘common knowledge’ in some circles for two years now.
Has anybody asked them “well, why didn’t you say so at the time?”
Some quite interesting links to posts on the property pin from ’08 on that p.ie thread (first page)
Their job is to write with a view to increasing company profits.
Was just noticing how naive sounding that last line was…:)
I’d heard that when Ahern was Taoiseach, Anglo Irish Bank complained that the NTMA was not putting money into the bank because they ajudged it to be a bad risk, but that they were ordered to do so.
I think Prime Time mentioned that the other week when focusing on the 2nd anniversary of the Bank Guarantee.
Supposedly The Sunday Independent are running with the story that “Drumm ‘told’ Cowen Anglo was haemorrhaging deposits 5 months before deposit guarantee – no comment from Cowen”…
So is Drumm the ones spilling the beans and if he is this has the potential to get even messier for FF
The Sindo aren’t running the story because they’re the 1973 Washington Post in disguise though: so why are they running it, and to what end? Cowen gone before a snap election, hoping they can get a bit of a bounce with a new leader – other Brian presumably?
I don’t believe he wants it. Which suggests that it’s abandon ship time.
Course, none of them will admit they’ve done anything wrong because none believe it. Call it Fitzpatrick’s “class interest” as you like but we have a bunch of people who see themselves as different from everyone else and uniquely deserving of having their hands in the public purse. Sorry if this is a banal comment, but I’m unable to string together anything more expressive of rage at the way the golden circle behaves…
I think you’re absolutely correct Tim.
IELB. Interesting if it focuses closer and closer on the personalities now talking.
Tomboktu. That would be a remarkable, although far from unexpected, outcome.
[...] Daily Mail article on Anglo Irish Bank… « The Cedar Lounge Revolution [...]
“The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.”-Gramsci.
[...] to be madly reductive, but in view of IELB’s post here from yesterday…You may recall this thread here from November…which looked at a piece by Senan Moloney and Jason O’Toole. [According to the [...]
AS I see it,
In typical post colonial behavior 26 county politicans in Ireland have portrayed typical post colonial behavior. They betrayed the electorate as did the Church and Banks.The ‘three pillars/ steeples’ of Society.
Sadly, politicans in their collective disease of denial fingered each other in the blame game.
As in most post colonial countries 20% of the citizens accumulate the power& wealth of the ‘nation’ as the 80% berate each other politically for the position of Government and privledge. The real power however is still firmly and covertly held in the coffers of the elite 20%,whatever political party reigns.
accordingly,Anglo Irish bankers, BOI,AIB,and LENDING society’s amid the ensuing ‘murphys law’ revelations told the fiscal world in europe and beyond that ‘paddies and money’ were bad news. in It followed in true ‘irish political’ character the government blinkered the plight of the nation, cosmetically carried out a few ‘acts of justice’ which did not include gaol for their groupies and continued to empty the countrys coffers in awardinging bloated incomes, unreal expenses, and pensions for themselves and their groupies.
The real, (without pain) ‘power party’ of the 20% are now rearranging their loyalties for the next government of the 80%.
Truthfully, we must ask ourselves:
Can we afford the expense of a National Government in the Dail with more than 100 TD’s?
Can we afford their salaries, expenses,crony commitee’s & quangos?
Can we afford an uncaring overpaid judical system?
Can we afford a Senaid?
Do we not urgently need ‘fresh bread ‘ TD’s elected from 26 county communities that are not alligned to stale sef serving political party’s?
Can we afford a Seanad?
Is it too late for parishes throughout the 26 counties to organise discussion groups especially our mothers and daughters to select ‘free’ candidates for Government ?
I rest my case!
PACEBENE
Shankill