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Posts tagged ‘Allied Irish Banks’

The Anglo Tapes

By The Story

Myself and Tom Lyons wrote yesterday in the Sunday Independent about new revelations from The Anglo Tapes, new audio of which is available over on Independent.ie.

This follows on from the trojan work of Paul Williams, Fionnan Sheahan, Dearbhail McDonald and Donal O’Donovan in the Irish Independent last week.

full article at source:http://thestory.ie/2013/07/01/the-anglo-tapes/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+thestory%2FQSEJ+%28The+Story%29

Comment :

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It is indeed to the thanks of the likes of Paul Williams and others that we the people even get to hear the likes of these tapes .Thank you to all who made this possible!

With regards to the X Directors and some serving directors (including the so called “public” placed leaches by the government) of the various toxic Banks, I believe all of these should be banned immediately from holding any public office and criminal charges should be brought against all of them. The charges would be of gross misconduct, negligence, and conspiracy to defraud the citizens of Ireland. All expenses should be investigated by an outside source such as Scotland Yard and some other police force but definitely not the Irish police as I believe they are too close to the various suspects!

Where are the tapes of Allied Irish Bank? This bank is worse than Anglo Irish and they got just as much money from the taxpayers so why are the X Directors not been brought before the courts?

The Bank of Ireland and the other credit institutions have criminal charges to answer for too, five years on not one of the responsible have been brought before the courts, indeed they have been rewarded with fat pensions and in some cases  some have received new employment on the boards of public companies, why??   Why was nothing done about these tapes 5 years ago why are they now suddenly brought out to the media, what are the loans outstanding of Mr. Kenny, Noonan, and Gilmore? For that matter what about all of the TD,s and the private pal advisors of the minsters ?? let’s have all the top civil servants in the department of Finance have their  bank loans investigated as well! There is dirt and muck everywhere and we are been fed these tapes ( a few crums)  because they are hiding a much bigger scandal.Heads must roll now!

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Thomás O Cléirigh

Banks-Sovereign Contagion: It’s Getting Worse in Europe

by

  • European authorities and nation states have pushed for banks to ‘play a greater role’ in ‘supporting recovery’ – euphemism for forcing or incentivising (or both) banks to buy more Government debt to fund fiscal deficits (gross effect: increase holdings of Government by the banks, making banks even more too-big/important-to-fail);
  • European authorities and nation states have pushed for separating the banks-sovereign contagion links, primarily by loading more contingent liabilities in the case of insolvency on investors, lenders and depositors (gross effect: attempting to decrease potential call on sovereigns from the defaulting banks);
  • European authorities and nation states have continued to treat Government bonds as zero risk-weighted ‘safe’ assets, while pushing for banks to hold more capital (the twin effect is the direct incentive for banks to increase, not decrease, their direct links to the states via bond holdings).
The net result: the contagion risk conduit is now bigger than ever, while the customer/investor security in the banking system is now weaker than ever. If someone wanted to purposefully design a system to destroy the European banking, they couldn’t have dreamt up a better one than that…

AIB And ‘Fraud Of The Highest Order’

scam

This bank [AIB], which is still trading in the US/Ireland and is still accepting deposits and making loans, appears to have some pretty fishy underpinnings.

So begins a an alarming if somewhat baffling blog post by Trading analyst Reggie Middleton posted on Monday night.

In which he claims AIB is falsifying it’s true value through the misuse of one word.

And may be the next bank to be “Cyprus’d”.

Vincent Lebraun explains:

The trouble with this high-level fraud is that it’s so “out-there” that people won’t be able to understand how serious this is.

In the charge document registered with the Irish Company Registration Office, it says that it is in respect of “all present and future liabilities whatsoever” of AIB.

And the charge itself is over “eligible securities”.

However, in AIB’s 2008 annual accounts and the files to the U.S. Securities & Exchange Commission, document 20F (page 223 – 2), it states that the charge was placed in favour of the Central Bank and Financial Services Authority of Ireland over all of AIB’s ‘right, title, interest and benefit present and future in and to certain segregated securities.’

Using the description ‘certain segregated securities’ is completely different to the description all ‘eligible securities.’ This is fraud of the highest order, and it’s so simple (yet so complicated) that they were hoping no-one would notice.

And we don’t have to take this guy’s word for it: he has both documents posted on his site (although he initially posted an Anglo document but has since rectified it and posted the AIB one)…

Anyone?

article source: http://www.broadsheet.ie/2013/04/03/aib-and-fraud-of-the-highest-order/

Comment:

You have been warned get you money out to-day!

Irish State paying E300,000 to 66 Bank executives of bankrupt banks! Why????

Today we the Irish taxpayers   learn just how our morally corrupt government are still paying 66 bank executives at banks covered by the State guarantee are been paid more then €300,000 each per year and on top of that we also learn that  1,700 bankers at failed Irish banks are still paid over €100,000 per year. At the same time the corrupt government are preparing a massive hit on the unemployed, elderly and essential  services in the next budget!

We have become used to the Gombeens running our country supporting their insider pals and vested interests and this corrupt political system of rewarding incompetent white collar crooks and stooges is not about to be phased out ! No its business as usual and if you are with the in crowd you get “looked after” with lottery pensions and salaries,  but if you are an ordinary Joe then batten down the hatches as you are about to get screwed all over again by the puppets and collaborators in Lenster Houses as they pass the next budget!

The social divide is getting out of hand as the corrupt politicians are becoming more daring in their austerity drive forcing the ordinary people to pay for the criminal acts of corrupt bankers, and the  criminal negligence of past and present so called public servants ( including politicians ) they continue to support with these lottery pensions. I say, we the people cannot stand by and allow this blatant robbery of our nation’s financial wealth as the politicians continue to support criminals. We must stand up and take action by whatever means! The political system is clearly not working for the ordinary Joe as the political élite and their insider pals continue rape our country of all its wealth.

People of Ireland get up off your knees and fight back.

Thomás O Cléirigh

AIB must explain what it did with the billions it was given to help distressed mortgage holders – Harris

Posted October 4th, 2012 in Dáil Work, Economy, Finance, News, Public Accounts Committee

Fine Gael TD for Wicklow, Simon Harris, today (Thursday) raised  the question as to what AIB has done with the billions it was given to  specifically help distressed mortgage holders. Speaking during today’s  meeting of the Public Accounts Committee (PAC), Deputy Harris requested  that the Committee write to the General Secretary of the Department of  Finance to get details of exactly how this money has been spent.

“AIB increased its variable mortgage rate this week, saying it had no choice if it was to return its mortgage business to a profitable  position. This move has left thousands of homeowners facing even larger  monthly mortgage repayments, and will push those struggling with debt  into further distress. What I can’t understand is, where have the  billions that AIB was given for the purpose of mortgage write down and  assisting struggling mortgage holders gone?

“PAC has agreed to write to the Department of Finance requesting a  full breakdown on how this money was spent on assisting mortgage holders in difficulty and whether or not the full amount has been spent for  this purpose. I have requested this in light of the real and genuine  worry that mortgage holders are struggling. We cannot have another  situation a few months down the line where further hikes will be  introduced pushing more and more people into arrears, as they simply  can’t make the increased repayments.

“I look forward to a comprehensive response to these issues being given to the Public Accounts Committee.”

AIB “bleeds the ordinary householder dry”

AIB

AIB (Photo credit: Wikipedia)

THE Government has been accused of standing back as AIB “bleeds the ordinary householder dry” following the bank’s decision to hike up its variable-interest rate for the second time in two months.

The State-owned bank shocked its customers earlier this week when it announced that it would be raising its interest rate by 0.5 per cent to 4 per cent — two days after the bank had paid €1bn to senior unsecured bondholders.

The bank, which has received a €21bn bailout from the taxpayer and is now 99.8 per cent owned by the State, increased its interest rate, despite the ECB halving its rate in the last 12 months…………………………………..

full article at source:http://www.independent.ie/business/personal-finance/property-mortgages/government-is-letting-aib-bleed-homeowners-3251571.html

Comment:

The unfortunate customers of Permanent TSB have been sucked dry now for the last 3.5 years with interest rates of 6% .I have been warning about this bank’s policy to fleece their own customers in an effort to  build up their balance sheets as a result of their criminal behaviour during the so called boom years.  See link: http://www.irishtimes.com/newspaper/finance/2012/0523/1224316551107.html

The bottom line here is the equally corrupt government that is now sitting in Lenster House is allowing the State Banks to run amok again and this time the customers are paying the tab in an unending cycle of hidden bank charges ,no credit and penal interest charges on overdrafts (If you’re lucky enough to have one!) This shower  of Gombeens in the Dail are speaking with forked tongs and are crying crocodile tears. Close all your bank accounts and go to the post office or your local Credit Union.

 

Zombies within our midst

Here are the Zombies that are within our midst’s :

The Bank of Ireland and Allied Irish Banks are continuing to fleece their own customers as they try to prop up their balance sheets .We have here gangsters who are “legally” stealing from us every day with hidden charge and extortionate interest charges on customers who are trapped into worthless mortgages and business loans. I highlighted the blatant ageism practiced by Bank of Ireland with their like insurance products in a previous posting.

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