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Posts tagged ‘Eugene Sheehy’

I find myself in total agreement with you analyses .I only hope the mortgage holders come together and refuse to pay anymore of these to these Banks ,as all of the problems were caused by the fraudulent activities of these Banks in the first place. Kenny and his band of puppets are traitors to the people of Ireland, as they are stripping away our very means to support our families, with ever increasing penal taxes heaped upon our collective shoulders. We the people are been robbed of basic community services to pay the interest of these private banking debts .At the same time the Criminal Directors of these toxic financial intuitions are enjoying lottery pensions ( Like Eugene Sheehy X CEO of Allied Irish Bank on 453,000 Euros a year for the rest of his life having plunged the country into this financial black hole we the ordinary citizens are now forced to pay off .

All this without even been given a chance to vote on it .Let’s face it we are been used to continue to keep the élite politicians in millionaire lifestyles whilst we the people are been taxed to pay off debts they caused, because of their lax regulation and insider elite conflict of interests .Kenny and his band of collaborators are not there to protect the people we see by his government’s actions that they are there to implement the dictates of Berlin ! Our independence has been stolen from us and not one shot has been fired. We are living in a financial backed dictatorship that envisages s a federal European Union with Berlin dictating to the rest of us and Kenny and his band of incompetent stooges are bending over backwards to please their real masters in the hopes of collecting super perks and pensions when the Irish people eventually kick him and his shower of traitors out of office.

The political system here in Ireland rewards incompetent politicians just look at what the last shower got when they destroyed the country

Wake up and take action now stop these leaches from sucking our country dry and thus robbing us of our right to be able to live and work in our own country ! Get up off your knees and start fighting back to-day .
God Save Ireland from Irish political Gangsters swarming around the Dail right now!
MY dark Rosaleen where are your fighting men???

see more related : http://awakenlongford.wordpress.com/2012/10/10/that-when-it-comes-to-harming-homeowners-no-one-is-above-the-law/

Arrogant-incompetent-bankers

photo machholz

By Laura Noonan (Irish Independent)

THEY came to yesterday’s meetings already defeated, but it quickly became
clear that AIB‘s ordinary shareholders weren’t going to let a small matter like
virtual nationalisation stop them from telling bank bosses exactly what they
thought of them.

Former AIB staffer Niall Murphy was first up and quickly set the tone for the
day: “You’re smiling now,” he told AIB’s executive chairman David Hodgkinson,
“but I don’t think you’ll be smiling when I’ve finished.”

Mr Murphy swiftly launched into a 10-minute tirade against the bank’s demise
and the “unforgivable” plans to “squander” billions from the National Pension
Reserve Fund on the latest bailout.

The theme was quickly picked up by People Before Profit TD Richard Boyd
Barrett, who called on shareholders to reject the bailout they were gathered
together to vote on.

How exactly private shareholders, who own less than 7pc of the bank, were
supposed to vote down a proposal supported by the Government, which owns the
other 93pc, was anybody’s guess, but Mr Boyd Barrett drew applause all the
same.

This was a room were reason played second-fiddle to emotion, as one
shareholder summed up the mood by dubbing AIB “Arrogant Incompetent
Bankers”.

And so it continued, as shareholder after
shareholder took up arms to air grievances old and new, all of them savouring
their moment in the sun, all of them apparently unmoved by Mr Hodgkinson’s claim
that the bank was changing and would be a force for good in Ireland.

It took Independent TD Shane Ross to
point out the obvious: “This motion (on accepting the bailout) is a stitch-up
… this is a theatre.”

Motion

The board went into the EGM with enough votes from the Government to win the
bailout motion, the deal was done long before shareholders were asked for their
tuppence worth.

With zero prospect of changing the outcome of the bailout vote, the
shareholders sought their victories elsewhere.

Mr Hodgkinson came under fire for his “absurd” €500,000-a-year pay packet,
and for his efforts to be allowed to breach the banking pay cap to win AIB a new
chief executive of international pedigree.

The bonfire of the bosses expanded to include former AIB chiefs Eugene Sheehy
and Colm Doherty, with shareholders demanding that Mr Hodgkinson write to the
duo and ask them to “share the pain” by returning some of their multi-million
euro pay-offs.

Mr Hodgkinson and a handful of his fellow directors were also lashed for
failing to buy any shares in the bank, a charge he deftly side-stepped by
claiming he had been in possession of market sensitive information since he
joined AIB and was therefore prohibited from buying shares.

It certainly sounded better than admitting the obvious — no one in their
right mind would have forked out money for AIB shares after the nationalisation
bell tolled in December.

AIB’s “fire sale” of stockbroker Goodbody’s for just €24m also came in for
some shareholder attention, with Breda O’Byrne reacting with fury to the
“unbelievable” admission that the bank has indemnified purchasers Fexco for
future lawsuits.

“What country would put up with that?” she demanded. “It’s time for us to
revolt.”

And revolt they did, with the overwhelming majority of ordinary shareholders
voting down the bailout. It was still passed by a measure of well over 90pc.

source :http://www.independent.ie/business/irish/arrogant-incompetent-bankers-given-a-grilling-2831857.html

Comment:


This is what democracy looks like in Ireland  to day  .The big boys have everything stitched up with
the help of the vested interests in the state media and the unions ,we the
ordinary citizens only have the illusion that we are free .Having robbed us of
our shares in the Banks, plundered our pensions ,they are now forcing us to pay
a tax (levy)  on the  overprices houses we were sold and in a few
weeks we will get another call to pay for the very water we are drinking .This
is the work of politicians who promised change .Most people who went to the AIB
AGM voted the government into office. All we got was more of the same ,jobs for
the well connected  like Sticky Dick
Spring who is been well looked after with his state pensions and his well paid
gig on the AIB board “looking after the taxpayers interests “ has never been so
profitable.  I suppose name calling will change
nothing! How many of the disgruntled shareholders came out to demonstrate
against the closures of local A&E services, how many will vote the same
codgers back into office again in the next election? Until we have a total change
of the cronyism, and of the self promoting political system, where the likes of
Spring and his band of champagne lefties in the labour party are exposed for
the sell-outs there are, where the double talk of the “vote for change” Fine
Gael is finally exposed maybe then the people of Ireland will rise up from
their collective knees and challenge these political leaches .Maybe then we
might as a people come together in the spirit of our Celtic heritage and build
a nation that we can truly be proud of. But until the people who go to AGM’s
and the people who go to demonstrations in support of local health services and
local schools, the people who demonstrate against social welfare cuts come together,
we are going to be easy pickings for the conmen who have made a living on the
backs of the ordinary people of Ireland .We must unite and stop this mad march
into the Austerity asylum that is been created for us by the IMF and our own political
gangsters in the Dail.

Ireland wake up and unite against the austerity asylum cheerleaders
in the Dail

 

Incompetence rewarded at AIB

Figures in AIB’s annual report show the bailed-out bank paid its top management €3.6m last year, down from just over €5m the previous year.

The figure is the combined bill for executive and non-executive directors.

The bank’s finances were badly hit in 2009 following the implosion of the property market.


AIB’s former Chief Executive Eugene Sheehy earned €892,000 in 2009, down from €1.15m in 2008, according to the report. He retired from the position on 30 November.


Colm Doherty, who was appointed as the bank’s Managing Director towards the end of last year, saw his salary grow from €822,000 to €833,000 between 2008 and 2009.

Mr Doherty took over in early November. December and part of November reflect his salary at the capped rate of €500,000.


AIB’s former Chairman Dermot Gleeson, who retired at the end of June, took home €203,000 for his services – a decrease from €475,000 the previous year.

 


Sean O’Driscoll, a non-executive director of the bank who is due to retire this year, waived his fee for 2009.

Mr O’Driscoll, who is the Chief Executive of Glen Dimplex, is continuing to do the work free this year.

 

 

.

Do these gents look like they care?
No, they couldn’t care less!

The Taxpayers of this country are going to be footing the bill to keep this lot in clover for the foreseeable future

When will the people rise up and kick these incompetent directors out?

We are literally rewarding criminal negligence

That’s like paying the Nazis for killing the Jews

Looking at this picture I am reminded of another (Below)

Notice the same expressionless faces

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