What is truth?

Posts tagged ‘Irish Independent’

‘I had nothing to do with it,’ says former minister Martin Cullen

Martin Cullen one and only

Martin Cullen one and only (Photo credit: Wikipedia)

THE former minister responsible for buying the €54m e-voting machines — which have now been sold for scrap — claimed yesterday that the debacle had nothing to do with him.

Martin Cullen, who now lives in the US, refused to comment and said he didn’t want to “get into” a discussion.

Speaking to the Irish Independent at an art gallery that he co-owns in Naples, Florida, Mr Cullen said: “I had nothing to do with that. I don’t want to get into that.”

His refusal means that none of the three main players involved in buying the machines — which have now been sold for scrap for just €70,000 — will explain why they were purchased but never used.

full article at source: http://www.independent.ie/national-news/i-had-nothing-to-do-with-it-says-former-minister-martin-cullen-3154088.html

Gene Kerrigan: For both sides, the kicks keep coming.

AIB

AIB (Photo credit: Wikipedia)

By Gene Kerrigan

A QUESTION. Have the citizens of this befuddled little nation become so used to bowing the knee that there’s nothing they won’t let these people get away with? So far, an impartial observer might answer, yeah, probably.

Right now, Michael Noonan‘s Department of Buggering Up the Economy seems determined to see just how much humiliation they can heap on to us. It might be that one evening, having drunk a few bottles of Chateau Arrogant with their lobster dinner, the minister’s bright-spark advisers came up with an idea.

 

“Suppose,” one Knight of Austerity murmurs, “suppose we brought back bonuses for bankers?”

A shiver runs through everyone in the room.

“I’m talking big, big bonuses,” the Knight says.

“Too soon,” says one deputy assistant under-secretary. “Far too soon.”

Now, I’m just speculating here. For all I know, it was Chateau Shameless they’d been drinking. But I’ve no doubt a conversation of this sort took place. How else do we explain this Irish Independent headline from last week? ‘Michael Noonan clears way for bank bosses to get bonuses’.

The headline was over the byline of Laura Noonan, who doesn’t make things up. She quotes from, and therefore has access to, new guidelines okayed by the minister. These will “pave the way” for “incentive arrangements” at AIB, Permanent TSB and at The Dead Bank Formerly Known as Anglo.

 

full article at source: http://www.independent.ie/opinion/columnists/gene-kerrigan/gene-kerrigan-for-both-sides-the-kicks-keep-coming-3074220.html

A handy stick to beat us with (thepressnet.com)

 

A handy stick to beat us with

Just over four weeks ago, on 2 February, the Government signed a modification to an EU treaty that, according to Government ministers, contains a provision potentially very menacing to Irish interests.

No announcement was made of the signing of this modified treaty, no press release was issued (certainly none posted on the Department of Finance website) and no formal Dáil statement was made about this development, even though it had very considerable potential consequences for this country.

In answer to a Dáil question on 1 February and again on 14 February, Michael Noonan did acknowledge that the treaty in question was to be signed within a matter of days.

On the first occasion, he made reference to the provision that now threatens Ireland. But he did not then point out the menace.

The careful reticence of the Government on this is illustrated by the silence of the media on the matter. There is no reference to this modified treaty on the Irish Times website, nor on the Irish Independent website, nor the RTÉ website. The only reference I have come across to this in any of the newspapers is a brief piece by Pat Leahy, the political editor of the Sunday Business Post, on 5 February.

full article at source: http://politico.ie/irish-politics/8322-government-esm-treaty-amendment-stick-to-beat-us-with.html

Comment:

This pitcure says it all  Arrogance and Incompetence

read my lips F*** O***

Just another example of total arrogance and incompetence from a career politician who hasn’t got a clue of the total devastation he is causing as he bends over and get rightly scre*** by the real financial sharks in Europe.(“Our Friends”)

Post-Christmas spinning classes start early for NAMA

By Namawinelake

You would have thought this would be a quiet week for news reporting at NAMA, but it seems the Irish Independent has discovered a few nuggets which seem to cast NAMA in an uncharacteristically benign light. But stick the nuggets under a microscope and they start to look just a leeettle suspicious.

Yesterday the Independent reported that NAMA had “tipped-off” the Revenue Commissioners (Irish tax authorities) about “possible tax evasion” by “dozens” of the 850-odd developers whose loans NAMA is managing. Dig a little deeper and you will see that NAMA was doing no more than its duty in notifying suspicious transactions or assets to the Revenue; some or indeed many, of these suspicions might previously have been notified to the Revenue by the original banks – NAMA is not saying and the Independent doesn’t include such detail.

full article at source:http://namawinelake.wordpress.com/2011/12/28/post-christmas-spinning-classes-start-early-for-nama/

Comment:

This state agency is nothing more than a gravy train for the insiders and political fixers who are milking this cow for all its worth and the taxpayers of the country are been sucked dry!We the citizens are been screwed and the government are fanning the flames  of revolt!

Shebeen Chic continues to fight for its survival.

 

Last Saturday I got a tip from a friend to go and visit a venue called
the Shebeen Chic.

What was different about this place was it was been shut down by the landlords
who are looking for a massive increase in the rent.21 people are about to loose their
jobs and I understand some of them are sleeping in the premises every night .The
Irish Independent carried the story last week
 and I am informed it’s only a
matter of time before the sheriff arrives and the place is closed with the loss
of all those jobs.

The Tenant is the victim of the current government’s lack of urgent
action on upward only leases and commercial rents. Having heard firsthand the
story from the Tenant and his Manager  I
am astounded that this type behavior is allowed to go on in Ireland .It would
appear a man’s business is been taken away from him  in spite of the fact he is paying the agreed
rent and is fully paid up. As this matter is still in the process of negotiation
I probably should refrain from saying anymore .

Needleless to say if you are in the area please do go in and support the
staff by buying a drink.

Facebook link to the Shebeen chic here:  https://www.facebook.com/pages/ShindigShebeen-Chic/158138891327

Quango queen Davis defends State boards payments

Independent Presidential candidate Mary Davis (Quango Queen) has defended the payments she received for appointments to State boards during the last decade.A report in today’s Irish Independent newspaper says she earned almost €190,000 as a result of being appointed to three State bodies since 2000, on top of the salary she was receiving as Managing Director of the Special Olympics.

 

Comment:

 

 

Say what you like this is just another snout in a good few troughs Mary .You are one of the insiders that have benefited well from the cronyism that infests our political patronised system .The Special Olympics has been used by you to real effect and has been a real money spinner for you and continues to be so. The salary of 156,000 Euros you are receiving from the special Olympics is outrageous and immoral especially when you think that most of the families involved could only dream of such income .I’m not voting for you so you can now spend another 250,000 to 340,000 per year of taxpayers’
money on top of all the rest you managed to get from us.We the people want to an end to insider snouts sucking the system dry and you are a perfect example! No Thanks Next!

You won’t be getting my vote!

NAMA and the Social Divdidend

By Namawinelake

One of the first initiatives launched by this new government on taking office in March was to undertake a comprehensive spending review – checking out the nitty-gritty of where the country was spending its money, and then making efficiency savings and a necessary initiative.So step forward Minister for the Environment, Community and Local Government, Phil Hogan who seems to have spotted an opportunity to cut his own department’s costs without affecting the internal costs of the department. According to the
Irish Independent today “the minister said he was unhappy with the toxic assets
agency for not selling properties under its control at a discount to his department.” The famous NAMAsocial dividend” is mentioned again in the Minister’s speech yesterday – remember the last of the eight objectives set out in 2 (b) (viii) of the NAMA Act calls for NAMA “to contribute to the social and economic development of the State”

read full article at source: http://namawinelake.wordpress.com/2011/09/13/minister-attempts-to-reduce-his-department%e2%80%99s-costs-by-attacking-nama/

ANGLO Irish Bank could be wound up in three or four years

By Laura Noonan

Monday August 29 2011

ANGLO Irish Bank‘s management believe the nationalised lender could be wound
up in as little as three or four years, the Irish Independent has learnt.

The news comes days after its chief executive, Mike Aynsley, revealed that up
to €4bn in capital could be handed back to the State when Anglo pulls the
shutters down for the final time.

The collapsed lender is due to be wound down over a 10-year period, but
management now believe that the final phase of Anglo’s life could be
significantly shorter.

Successful bidders have been identified for
Anglo’s $9.5bn (€6.5bn) US loan book and newswire Bloomberg reports that Wells Fargo, JP Morgan and Lone Star Funds will buy the loans for
80pc of their face value by the end
of October.

That will leave Anglo with just €16bn of its own loans, plus about €2bn of
loans from Irish Nationwide, meaning the bank is no longer “systemically
important”.

source:http://www.independent.ie/business/irish/anglo-could-be-wound-up-within-three-or-four-years-2860185.html

Comment :

What the people of Ireland want to know is how soon we can
expect to see the gangsters who destroyed our country be brought to trial. Why
are we still employing over 1000 people at the ridiculous salaries they were
getting in the so called boom years. Why are we still paying pensions to the
same directors and top managers who are refusing to help the Gardai with their
enquires??

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

 

Surprise Surprise, “Tuck”, you’re in luck, good marks for all in this band of do nothings.

Listening to the
east-coast radio breakfast show this morning we were informed about the latest
poll numbers for the new government and Edna Kenny’s personal ratings. Surprise
Surprise, tuck, you’re in luck, good marks for all in this band of do nothings.

“TAOISEACH Enda Kenny and Fine Gael are continuing to enjoy a honeymoon period in government with both leader and party enjoying record levels of support, a new Irish Independent/Millward Brown Lansdowne opinion poll reveals After 100 days in power, Fine Gael‘s popularity has soared to 42pc, a rise of six points since the general election.
Support for the Labour Party is also holding steady on 19pc.
Fine Gael’s rating has risen sharply despite a majority of voters believing no progress has been made on keyeconomic promises made by the Coalition in the election campaign.

Just a year ago, Mr. Kenny barely survived a leadership
heave brought about by poor poll ratings. But now his performance gets the
thumbs up from 65pc of voters, a stunning 26-point rise since he came to power.”

Let’s just look again at what is
happening here.

We have a new government, who got into government by claiming to be champions of “change” and they were going to re-negotiate the bailout terms and burn the bondholders. ( Fine Gael believes that the IMF/EU
bail-out deal has not and will not restore investor confidence in our country,
and must therefore be renegotiated to reduce the interest rate and to ensure a
fairer sharing of the cost of fixing Ireland’s broken banks. The current deal
is bad for Ireland – and bad for Europe.

• Bad for Ireland. The financial
markets are closed to Ireland principally because investors are concerned that
any more capital injections into the banks – the cost so far is €100 billion –
will sink the Irish economy.

• Bad for Europe. Our EU partners want
Ireland to return to the financial markets as soon as possible. However, it is
difficult to see how this can happen unless the market’s concerns about the
banking bailout are addressed directly).

Fianna Fail
were kicked out of office and rightly so by the citizens of Ireland but since
the new government got into office they have continuously to ditch their promises
of change and they have adopted in its entirety the policies of the previous government
and it would seem that the public are ok with this???

I do not believe
the numbers in this poll .How can the public kick out one lot and give massive approval
to another lot implement the previous lot’s policies??? It doesn’t make any sense!

If that wasn’t
enough we then get to hear Prof Brian Lucy comment on the latest bailout for Greece

Basically
he confirms that the EU is just kicking the can down the road again, they are
ignoring the fundamental problem of debt, by taking on more debt you are only
making things worse and eventually the facts will have to be faced up to. There
will be a need to forgive a large portion of the debts all the small countries
in Europe (A debt forgiveness program will have to be created and over a long
period these debts will have to be written off) This is what I am advocating
for the last 3 years now .I have never heard of anybody getting out of debt by
taking on new debts. It’s just not feasible. Go down to your bank manager and ask
him to allow you to continue to build up your debts as a way to solve your
debts and see what he or she will tell you!.

Hard decisions are going to have to be made and Kenny should now make these ASAP.

We need real leadership and brave people with the national interest at heart.First
thing is to now face reality and tell the EU/IMF we are not going to be the patsies
of Europe. We no longer are going to bailout gamblers and con artists hiding
behind the ECB or Deutsche Bank .They must now take losses and they can have a
debt for equity swap in the Irish Pillar Banks and good luck to them. To do
otherwise is nothing short of treason!Their loyalty should first and foremost to the people of Ireland whom they are supposed to be working for!

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