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Archive for the ‘Brian Lenihan’ Category

Fine Gael ,talk is cheap!

Fine Gael today renewed its calls for the Government to revisit its plans to restructure Anglo Irish Bank and shut it down if saving it is not economically viable.
Finance spokesman Michael Noonan noted Minister for Finance Brian Lenihan said last year the cost to the taxpayer of saving Anglo would be €4.5 billion.
“The Minister’s estimate has now risen to almost € 25 billion and Standards and Poors, when evaluating Ireland’s creditworthiness last week, put the cost at €35 billion,” he said.
Mr Noonan said the uncertainty about the back is having serious consequences for the Irish economy, with borrowing costs rising and credit lines tighter.
He called on Mr Lenihan to conclude negotiations with the European Commission “as a matter of urgency” and state clearly what the plan for the bank is.
“He must produce an accurate and internationally acceptable estimate of the cost of the Anglo rescue to the taxpayer, and he must clearly show that his rescue plan is less costly than an orderly wind down of the bank would be,” he said. “If he cannot do this, than an orderly wind down should commence immediately.
He claimed the Green Party was in favour of such a course of action. “The Greens are wrong about most issues but they may be right on this one.”
source http://www.irishtimes.com/newspaper/breaking/2010/0829/breaking34.html

Comment:

Here we have a an example of the Fine Gael riding to the rescue suddenly getting the words together to maybe call for the wind up of the Toxic Toilet Anglo Irish Bank ,when the Irish taxpayers have been robbed blind and nothing more can be done by Lenihan and the rest of the cr**** in the Government
Even now Fine Gael still cannot come down on one side or another the facts are, the big con artists
Of Anglo Irish Bank have long gotten their booty to safe shores and Mr. Kenny does seem to be well use to the plush green Fairways of the K club.
The developers have by now gotten all of their choice assets on the a family members name and can declare that there are” Broke” even though they are still apparently well able to fork our 1500 Euros per plate at “special dinners”
“Have no fear Kenny is here” Is not a cry you will be hearing from the trampled down populous anytime soon!
Fine Gael is coming up behind sometime soon when the coast is clear, is more like the type of phrase you will here
Instead of a well organized opposition we have a bunch of on the make it up as you go long’s
The success of Fianna Fail in pushing through the largest fraud in Irish history (NAMA) on to the taxpayers of this state is directly linked to the incompetence of the opposition parties and that is no badge of honour Mr. Noonan, nor should it be rewarded by the citizens of Ireland in the next general election
Fine Gael has failed miserable in their job as the largest opposition party!
How in God’s name do they even think that they will be allowed to lead the next government by the bewildered taxpayers of this country?
Do they think we are fools?
Do they expect to just walk into the Dail and carry on with the same political musical chairs system we have had for the last 80 years
No lads we the people have had enough of this gravy train for incompetent fools and it doesn’t matter what party you call yourself lads!

Conclusion: Fine Gael Talk is cheap

Kenny prancing around the K-Club

 

The significance of Ronald Quinlan’s revelation today that Fine Gael sought and accepted a sum of money from a property developer — and not just any property developer — should not be underestimated.
O’Flynn Construction is one of the country’s most- indebted construction firms. The taxpayer has recently financed the transfer to Nama of those debts, estimated at around €1bn.
Michael O’Flynn, the chairman and managing director of O’Flynn Construction, on Wednesday last swung his Mercedes S350 executive saloon into the K Club to play a round of golf with the man who regards himself to be the Taoiseach-in-waiting.
Mr O’Flynn sanctioned his firm’s payment of €1,500 for the honour of teeing off just behind the leader of Fine Gael, Enda Kenny, and his most loyal lieutenant, Phil Hogan
He also sanctioned the payment of an undisclosed sum, possibly another €1,500 — maybe more, maybe less — to sponsor the famous 18th hole at the K Club, a club which is itself partly owned by Gerry Gannon, also of Nama fame, who is one of the so-called Anglo Golden Circle.

And so on and on it goes, full story at source
http://www.independent.ie/national-news/fg-taps-nama-10-developer-for-money-2263297.html

Comment:

I am disappointed to hear that Fine Gael’s Enda Kenny (self styled Taoiseach in waiting) did not have better judgement and for my money (the little I still have left ) I will bet that he most certainly will not be the next Taoiseach.
Nor does he deserve to be! with such display of total disconnect from the general public!
Displaying this total detachment for the feelings of the ordinary people who are struggling to pay their continuously rising household bills and  green party new taxes
Enda Kenny has made a major miscalculation here; prancing around the K-Club the taxpayers of this country will not forgive this making out with the golden circle boys from Anglo Irish Bank !
The last thing this so called Taoiseach in waiting needed was to be photographed with members of the golden Anglo Irish circle
How can anybody now believe that this man or his party will make the developers pay their debts to Anglo Irish Bank, now owned by the hard pressed taxpayers of this country?
Mr. Kenny I predict you will not be the next Taoiseach of this country and you might not even be in the Dail after the next general election
What a shame too!
The perception now of the ordinary people of Ireland is that Fine Gael has little or no difference in policies with Fianna Fail, with regards to NAMA or the Developers who ripped off all those now and for the foreseeable future will wallow in negative equity.
Enda Kenny’s golf outing at the K-Club has only encouraged the belief he is just as chummy as Lenihan and Cowen with the brazen developers and bankers who have destroyed our country and have made us servants of the international bond pushers
What dimwit is advising this man?

I call upon the Fine Gael and Enda Kenny to send back the donations made by this Developer and to commit no to take any donations from any other Developers involved with NAMA

please singe petition on facebook here

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.

The Irish National Debt



Mildly encouraging signs have emerged that the Minister for Finance and Government has initiated early action amongst spending departments to obtain spending cuts from budgets in 2010.

However, the National debt shows no sign of abating its ruinous growth, based on the latest update of the national debt from the NTMA, which necessitated only a small adjustment in the Finance Dublin debt clock for this month.

It remains the case that there are just two alternative engines of recovery available to the Irish economy – the private sector, or the public sector. The Government, and an alternative Government, has to choose which horse it will back to restore the economy. The private sector horse has the form, because it has the experience, the talent, the production, engineering, marketing, and exporting expertise that will bring the Irish economy back to growth.

This is an excellent article and well worth reading !Full article link http://www.financedublin.com/debtclock.php

namawinelake

Long Term Economic Value – changes to terms?

March 8, 2010 by political accountability

The Independent today reports that Brian Lenihan signed into law last Wednesday a new valuation methodology for NAMA assets. This blog is trying to get hold of what was signed and will have a link here shortly. The Independent says

“Crucially, the net effect could change the amount being paid by the taxpayer for €77bn of loans.

It is quite possible that the allowance on the long-term economic value of the loans which the finance minister estimated at 15pc last September could now be lower.

However, this won’t become clear until the loans are transferred and the final current market value figures are known.”

Meanwhile the Irish Times today reports on a recent legal conference where the suggestion was advanced that the Minister of Finance’s role in overseeing the LTEV valuation may not be constitutional.

full posting at following linkhttp://namawinelake.wordpress.com/2010/03/08/long-term-economic-value-changes-to-terms/

Liz McManus active in the Dail

 

Liz McManus , Dail activities during the week  24.01.2010- 29.01.2010

 

 
Liz McManus
(Wicklow, Labour)

Last year broadcasting legislation was passed by the two Houses and the Joint Committee on Communications, Energy and Natural Resources was charged with carrying out a selection process for appointments to the boards of the Broadcasting Authority of Ireland and RTE. That process was completed before Christmas. We all know the Minister, Deputy Ryan, has an eccentric view regarding appointments to the public services. He seems to think a telephone call and a chat is enough.
We now have a situation where, I understand, four Cabinet meetings have been held and yet these appointments have not been made. I have no idea what is going on, but the committee on which I sit carried out its duty in an exemplary fashion. We made our recommendations to the Minister, Deputy Ryan. He does not have to accept them, but we have no word—–
 

Question 48: To ask the Minister for Finance if the public sector pay cuts apply when contract employees in a university here have their funding 100% sourced from philanthropic or private sources; and if he will make a statement on the matter.

Brian Lenihan Jnr
(Minister, Department of Finance; Dublin West, Fianna Fail)

The Financial Emergency Measures in the Public Interest (No 2) Act, 2009 makes provision for the reduction in the pay rates of all persons employed by public service bodies with effect from 1 January 2010. Universities come under the definitions within the Act as public service bodies, contract researchers where they are employed by such a public service body are subject to the pay reductions provided for under the legislation.

Question 89: To ask the Minister for Justice, Equality and Law Reform when digital closed circuit television will be provided to a Garda station (details supplied) in County Wicklow to replace the out of date analogue system; and if he will make a statement on the matter.

John Curran
(Minister of State, Department of Community, Rural and Gaeltacht Affairs; Dublin Mid West, Fianna Fail)

I am informed by the Garda authorities that the recording equipment currently employed for the existing Garda CCTV system in the station referred to by the Deputy will be replaced with digital recording equipment during the first quarter of 2010.

 Question 115: To ask the Minister for Community, Rural and Gaeltacht Affairs if he will give assurances for continued funding in 2011, 2012 and onwards for a community development project (details supplied) in County Wicklow in order for it to continue its work with the County Wicklow partnership; if the current level of funding will continue into the future; his views on the important work being carried out by the community development projects; and if he will make a statement on the matter

John Curran
(Minister of State, Department of Community, Rural and Gaeltacht Affairs; Dublin Mid West, Fianna Fail)

As I outlined previously to the House, my Department has seen the need to redesign its community development/social inclusion programmes, particularly the Local Development Social Inclusion (LDSIP) and Community Development Programmes (CDP), drawing on good international practice and to support the ongoing evaluation of the programmes. Both programmes have a community development element and were delivered through separate local delivery structures. These programmes came to an end on 31 December 2009 and have been superseded by a new programme, the Local and Community Development Programme (LCDP).

The aim of the new programme is to tackle poverty and social exclusion through partnership and constructive engagement between Government and its agencies and people in disadvantaged communities.

The new programme will preserve elements of good practice from the CDP/LDSIP Programmes and will enable groups to objectively demonstrate the positive impacts they are securing for local communities. An implementation strategy, involving the stakeholders, is underway in preparation for LCDP roll-out over the course of 2010.

In advance of proceeding to establish a single programme across CDPs and Partnerships, my Department undertook an evaluation of individual community development projects. Many of these projects span across two decades, with quite diverse activities. The objective of the review was to identify those projects that produce tangible, appropriate benefits for the communities they serve. The vast majority of projects, including the project referred to by the Deputy, fall into this category and have been offered funding under the new programme in 2010. Where projects were not recommended for continued funding, an appropriate appeals mechanism has been provided.

I am pleased to have been able to ring-fence funding for community development projects for 2010 and to maintain it at 2009 levels. In few other areas of public spending has it been possible to do this. The Deputy will appreciate that ongoing funding for 2011 and beyond will be subject to budgetary considerations at the appropriate time.



 

Irish Life Mortgage’s


Opposition parties have sought an assurance from the Government that other banks will not follow the lead of Permanent TSB if it puts up its variable mortgage interest rates.

Finance Minister Brian Lenihan said that no Minister for Finance since the foundation of the State had come into the Dáil and announced what mortgage interest rates would be.

He also pointed out that Permanent TSB had not applied to come under NAMA, nor had it sought any recapitalisation from the State.

Mr Lenihan added that Permanent TSB had paid for the benefit of the State 

Guarantees

and said the bank was in a difficult situation with historically low interest rates.

source http://www.rte.ie/business/2010/0128/mortgage.html

Lenihan again, cops out!

 Has he forgotten that is the Governments guarantees ,that keeps this corrupt financial Toxic Bank Afloat?

All he has to do is make a phone call, but for 70 thousand family’s,

 The sad news is,                                           

You’re not worth it!

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