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Archive for the ‘Minister of finance’ Category

Billions for NAMA and sod the rest of us!

Protesters at Anglo Irish Bank

 


It appears the four people on ledger were arrested as well as two or three people who had been outside. All this took place in the space of ten minutes. Inspector Gannon who led the assault on Shell to Sea campaigners at Polthomas pier in Rossport was spotted among the Gardai and witnesses reported they had the clear impression that the Gardai were acting under orders that no further protests against the bank bailouts were to be tolerated.

Up to 100 Gardai are now around Anglo Irish bank with a second protest having being called by eirigi for 14.00 today. It has been confirmed that this protest will still be going ahead as will Tuesdays protest at the Dail.

We would call on people to join the anti-capitalist block at 19.00 at the Wolfe Tone statue on Tuesday (opposite Shelbourne Hotel) where we will discuss how to best respond to the attacks on bank bailout protests before proceeding to the Dail. 

Full report at source
http://www.wsm.ie/c/gardai-attack-eirigi-anglo-irish

Labour Youth against NAMA

Labour Youth demonstrate outside Angelo Irish Bank

Irish Banking:Is this as good as it gets?

Irish banks are getting deeper and deeper into a hole that they cannot clime out
I supose its a case of who will die first the ecomomy or the banks ?

Ba –NAMA- Man a human sub species! Found only in Ireland

 

Ba –NAMA- Man a human sub species !found only in Ireland .

Thanks to  www.thestory.ie   who continues to do such  fantastic work for the cause of Free information movement ,and  went to the trouble to set these quotes from Brian Lenihan in a chronological order,all ready one gets the feeling that this guy (Lenihan) is making it up as he goes along,

I will try in the next few days to scour the various radio stations and see if I can dig up any interviews he made inbetween the quotes below.

If any of my readers has access to any other interviews please share them with us or send them to our colleagues at www.thestory.ie who have done such a good job exposing this chancer!

 

Quotes from Minister for Finance, Brian Lenihan
Posted: 02 Apr 2010 11:06 AM PDT

Below are a number of quotes from Minister Brian Lenihan which were reported in the media or said by him in the Dáil since the bank guarantee in September 2008.

Several of them are clearly contradicted by subsequent events*, of which some would be very recent. Others will probably be contradicted by events* to come.

Feel free to add your own in the comment box below or email them to mark[@]thestory[.]ie (remove the brackets). Please provide a link to cite your source. It’s worth keeping a log of these as events* continue.

Irish Times…

“We are not rushing into the banks without knowing precisely what the position is in those banks” – Nov 20 2008

During the Stabilisation of Public Finances debate, Dáil Eireann

In the context of any capitalisation the due diligence exercise will yield further information to enable us to do a far more precise identification of risk before we formulate policy on it. I would be reluctant to commit the taxpayer on any issue connected with risk without a full and definitive assessment of the risk in the institutions themselves and we must await this assessment. – Feb 5 2009

Following the publication of Anglo Irish Bank’s 2009 results. Minister Lenihan said he welcomed the increased scrutiny of Anglo as an opportunity to bring openness to the bank…

“which will ultimately allow us to draw a line under past activities”. “It is an opportunity for Anglo to employ a fully transparent approach to addressing the inappropriate activities that took place at the bank and provide comprehensive details to all stakeholders who deal with Anglo and who deal with Irish financial institutions generally.” – Irish Independent, Feb 21 2009

When challenged as to why he was not nationalising banks (at this time the State had already nationalised Anglo Irish Bank and taken a 25 per cent stake in Bank of Ireland and AIB).

“I do really want to scotch the idea that there are huge risks to the taxpayer in the valuation process because we are not nationalising these institutions.” – Irish Times, May 18 2009

follow link for article at http://thestory.ie/2010/04/02/quotes-from-minister-for-finance-brian-lenihan/

Anglo Irish reports €12.7bn loss for 2009

 

Anglo Irish Bank has reported a loss of €12.7bn for the 15 months to the end of December last year, as it set aside just over €15bn to cover loan losses.

Full Annual Report & Accounts

€10bn of the loan loss figure was linked to assets expected to be transferred to the National Asset Management Agency.

Excluding money set aside for bad loans, the bank made an operating profit of €2.4bn, though this included a gain of €1.8bn from a restructuring of its debt.

The bank confirmed the Minister for Finance,  had put a further €8.3bn into the bank, as he announced in the Dáil yesterday.

Anglo Irish also said restructuring of its activities and the NAMA process cost it €42m in the 15-month period.

God save Ireland from these Gangsters!

Ombusdman Emily O’Reilly claimed today the work of her office was being undermined by what she described as “deficits in our parliamentary and government arrangements”.

In an address to the Institute of Public Administration in Dublin today, Ms O’Reilly criticised the Government’s decision last month to vote against a proposal to have her report on a grant aid scheme for commercial fishermen referred to an Oireachtas committee.

She said the handling of the controversial Lost to Sea report illustrated how the Oireachtas was being side-lined. Ms O’Reilly published the report last December after its findings were rejected by the Department of Agriculture, only the second time this has happened since the office of ombudsman was founded in the 1980s.

“Unfortunately, the model of government set out in the Irish Constitution has become more of a fiction than a reality,” Ms O’Reilly said. “In practice the Dáil, and to a slightly lesser extent the Seanad, is controlled very firmly by the Government parties through the operation of the whip system.

“For all practical purposes, and I very much regret having to say this so bluntly, parliament in Ireland has been sidelined and is no longer in a position to hold the executive to account,” she said. “With the exception of the election of a Taoiseach, almost all decisions of importance are taken by the executive and are rubber-stamped by parliament.”

The Lost at Sea scheme was established in 2001 by then minister for the marine Frank Fahey. Under the scheme, owners of fishing boats lost at sea could apply for grant aid for replacement capacity.

The Byrne family from Donegal later complained to the ombudsman after its application was rejected, on the grounds it was made after the deadline.

Ms O’Reilly’s report criticised several aspects of the scheme, including the advertising process, which she found was not comprehensive enough. She recommended compensation of €245,000 for the Byrnes.

Ms O’Reilly said last month the Dáil and Seanad had the task of deciding who is right and wrong in her dispute with the Department of Agriculture and Fisheries.

But following a heat Dáil debate on the matter last month, the Government voted against referring the report to the Joint Oireachtas Committee on Agriculture, Fisheries and Food.

In her speech today, Ms O’Reilly claimed the Government had stopped the Oireachtas adjudicating on her dispute with the Department of Agriculture by voting “along party political lines”.

She said this illustrated “how deficits in our parliamentary and government arrangements can adversely affect” the work of her office.

Ms O’Reilly said she would have expected a parliamentary committee, following appropriate scrutiny, to reach the conclusion that her recommendation in the report that financial compensation be paid to the complainant.

She said her office “had done, in its area of responsibility, precisely what the Financial Regulator was accused of not doing, in terms of failing to serve the public interest and rooting out maladministration in the banking system”.

Ms O’Reilly said she hoped the Oireachtas may yet find a mechanism to allow the report to be dealt with “calmly and reasonably”.

In a wide-ranging speech, the Ombudsman said poor governance in a number of our key private and public institutions lies at the heart of our economic downturn.

source http://www.google.com/hostednews/ukpress/article/ALeqM5i_wcQYTrQYYRoOefflmoB6QCHtgg

see also http://breakingnews.iol.ie/news/ireland/ombudsman-blames-tds-for-economic-downturn-449298.html

and  http://www.irishtimes.com/newspaper/breaking/2010/0309/breaking38.html
 

comment

This is just the latest example of how our constitution does not meet the challenges from our own government with the self-interests now blatantly using the executive power to promote the interests of the chosen few

The political system in now was used and abused by a totally corrupt political elite and their lackeys.

The Dail is no longer listening to the voice of the Irish people.

Wrangling over the plum jobs and positions of power are the order of the day, sqandering billions down toxic Bank holes under the guise of the Con NAMA , and robbing ordinary people of their dignity in sickness

By putting them on trolleys in hallways, along hospitals corridors

Forcing the unemployed to work for nothing is programs (WPP) from discredited FAS

Allowing Bank Directors to be rewarded, who have supervised the systematic destruction of our national banking system to continue in place while the public loses their pensions and the shareholder loses 95% of their holdings!

Our political masters are so interconnected with these gangsters they have put the interests of International bond holders (NAMA)over the interests of the Irish people. We are no longer a free and independent nation our freedom has being given away and we and our children and the next generation are now financial slaves to foreign vested interests

This is treachery and it seems the constitutional rights of the of the people of Ireland are been ignored .This Dail no longer represents the people and any amount of shuffling the chairs around a corrupt cabinet will change nothing!

Traitors are still traitors it doesn’t matter where they sit

We the people want those responsible removed from their plum jobs and brought before the people’s justice. We also demand the a new government renegotiate the huge debts that were incurred by their corrupt bankers and the said Bank directors made pay from their own funds

Those responsible must not benefit in any way from their crimes.

These people at the top are the problem and until they all go Ireland hasn’t got any hope of retrieving its once cherished independence.

God save Ireland from NAMA and these Gangsters!

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