What is truth?

Posts tagged ‘Golden Circle’

If you thought FAS was Bad?


Many people might have forgotten that it was our own Mr.Dick Roche, the then Minster for the Environment, Heritage and Local Government who appointed Mr. Donal O’Connor as Chairperson of the Dublin Docklands Development Authority in may 2007

Mr. O’Connor was a Senior Partner of PricewaterhouseCoopers (PwC) in Ireland and was a member of the Global Board of PwC and Chairman of PricewaterhouseCoopers Euro firms Board at the time. He was also a member of the Board of the Irish Auditing and Accounting Supervisory Authority (IAASA) and was Administrator of Icarom Plc – formerly the Insurance Corporation of Ireland.

was appointed Chairman in December 2008 and Executive Chairman in February 2009, having joined the Board of
Anglo Irish Bank in June 2008. He was the Senior Partner of PricewaterhouseCoopers (PwC) in Ireland and was a member of the PwC Global Board and Chairman of the Eurofirms Board. He is a Non-executive Director of Elan Corporation plc and Readymix plc. He is a former Chairman of the Dublin Docklands Development Authority, and a former Director of the Irish Auditing and Accounting Supervisory Authority.

(This is an example of how incestuous Irish business is, and proof that this golden circle is alive and well in Ireland )

One should have known then that this individual was certainly used to the high life at the time and with all the rest of his commitments how was he going to give his full attention to his new posting.

Dick also appointed four other directors to the Executive Board of the Authority. at the same time and they were

* Mr. Donal Curtin, Partner, Byrne, Curtin, Kelly Ltd, Chartered Accountants;
* Mr. Brendan Malone, Partner, Malone Power & Company, Chartered Accountants;
* Ms. Mary Moylan, Assistant Secretary, Department of the Environment Heritage and Local Government – and
* Ms. Niamh O’Sullivan, Partner, Arup Consulting Engineers.
these people are all part of a golden circle that seem to get the plum jobs

For more information on these ladies and gents activities follow link here

Oh Dick, what were you thinking? Was there no control on what there lads were spending?

According to the head of the Oireachtas Public Accounts Committee has described a travel bill of over €600,000 run up by the Dublin Docklands Development Authority (DDDA) as an “orgy of spending”.

Reports in today’s newspapers claim the DDDA splashed the cash on luxury travel, expensive meals and fine wines.

The authority has accumulated losses of over €200m.

Fine Gael TD and PAC chairman Bernard Allen said such a culture of excess has to be curbed.

“I think these people were in a parallel universe,” Deputy Allen said. “At the time they thought that the world was their oyster.”

He said the bill raises major issues regarding the governance of the DDDA, which did not seem to be subject to any accountability.

What are the chances that any of these leaches will ever come before a courthouse?

None what about political accountability, sorry none there neither

We the people of Ireland are left with paying the bill for these high flyers

Who is surprised by this?

Wake up to the coming Scam of NAMA

Dear Ruairi,

Thank you for your response to my open letter to all the TD’s

Having now read almost everything that there is to read about NAMA, It has occurred to me that there are no safeguards in place to protect the Government or the Taxpayers from the same Fraud and insider dealing that took place at Anglo Irish Bank

What I am referring to is a simple scam that has taken place many times in the past

The public became aware of a more recent scam (Anglo Irish Bank Golden Circle scam)i.e. the 10 members of the Golden Circle

Can we get a categorical assurance? That the 10 golden circle Members will not benefit (Financial or NOT) in any way hidden or not from the proposed NAMA instustions and that they will be barred from buying any assets without public scrutiny of such sales??


Can we get a categoric assurance that developers assets that are taken into NAMA cannot be bought back be the same Developers at knockdown prices from NAMA in Back door deals hidden from the Taxpayers and with the help of their bailed out Banker buddies ???

There is nothing in the proposed legislation that will stop these golden 10 from benefiting in the latest scam setup that is NAMA

There has to be a case for new and tougher penalties for insider trading

A system like the new American rules of companie directors dealings and insider trading must be part of any finial Financial regulation for Ireland

Note it was not illegal then and chances are the same scam can take place once the NAMA legislation is enacted .This is obviously a loophole that needs to be plugged immediately


A select few well heeled Bank customers are called together and are invited to “invest in a so called new property company” they then borrow money from their personal friend (Bank Director, well placed) thanks to the taxpayers of this country will be in a position to borrow as much as they like and snap up the choice assets from NAMA at knockdown prices and leave the Toxic Trash rot in the vaults of NAMA and the Taxpayers footing the bill forever more

Mean while the chosen few having sold these toxic assets in the first place are a win win win situation

Scam scam all over again!

This and other scams are just waiting to be activated again, and by the same well placed individuals

Within the selfsame banking instustions that stand to gain from the big daddy scam of them all NAMA

Take a look at the shares of the 3 major banks in the last month just one question that you should put to Mr Brian, Lenihan, now that the shares of the 3 major banks have gone up since the government bailed them out how much profit can the Government now clam for the Taxpayers and why haven’t they taken this profit off the table????

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