What is truth?

Posts tagged ‘Michael Fingleton’

Clinging on to power??

The cynical attempt  from John Gormely to clinch to power along with his other economic terrorists in this Government is to be avoided like the plague.

These merchants of financial devastation are so addicted to power that they now know that the game is up and with the help on the only true independent news media (The internet) we the people now know the extent of the lies these economic terrorists have been telling us all along!

They have dogmatically stuck to their policy of slash and burn and stuff billions into bankrupt banks and bailed out their Galway tent developer pals.

With the establishment of NAMA they have created a new windfall for the financial gangsters that were involved in the financial destruction of our country in the first place .Over the last 18 months these vested interests have taken a majority stake in the Special Purpose Vehicle (SPV) (for approx 34 million each) all this was set up by Brian Lenihan.

By pulling this stroke (typical Fianna Fail) Lenihan handed back control of the Assets of NAMA to the very people these assets were taken from in the first place, at a huge cost to the taxpayers.

In other words we the taxpayers have now been saddled with all of this private Toxic debt and the banks stand to gain the majority of any profit.

Here is what Vincent Browne had to say about this SPV

This SPV, not NAMA, is now going to take over all the bad loans and their accompanying asset from the banks and the SPV will dispose of the assets in time and recover as much of the loans as it can. Precisely what we were told NAMA was going to do. And the big difference is that while NAMA was entirely a State agency, this SPV will have a majority of private owners. Private investors will have 51 per cent of the equity of this SPV and the State, via the hapless NAMA, will have just 49 per cent. The 51 per cent owners will call the shots, decide what is to be done with the assets for which we, Irish citizens, are paying €54 billion for

.Full article here http://www.politico.ie/index.php?option=com_content&view=article&id=5998:brian-lenihan-sidelines-nama-with-special-purpose-vehicle&catid=40:politics&Itemid=877

Make no mistake we the people are best served by an immediate general election and let all the political parties put before the people exactly what it is they are proposing, to solve our problems

But my personal humble opinion is that I do not want any of the current Dail members brought back to the Dail

They as a group have failed miserably both in Government and in opposition and none of them deserve to be rewarded by been  brought back into the longest winning lottery ticket in history for each one of them!

We the people are been subjected to a new campaign of spin ,by the current toxic financial terrorists in government whose sole objective is to cling to power, their Merk’s , perks and pensions are at stake .

They are engaged in economic terrorism by selling us out to vulture investors,and they have betrayed their sworn duty to protect and uphold the Irish constitution by doing so.

The current political system is at cause and needs to be totally overhauled and modernised.

 The current crop of TD’s have everything to lose and so have a vested interest in keeping all of their

“Accumulated entitlements “by not making any changes to the system .

Make no mistake I agree with Davis Mc Williams latest assumption the country’s elite are selling us all out.

Here is what David Mc Williams hast to say about this topic in his latest article.

 

Elite is preparing to sell country down the river

The last time I checked there was a harp on the front of my passport, not a picture of Michael Fingleton

The other day I met a German radio presenter from ARD, the German public radio station. I’ve known her for quite a while — since a brief spell working on the German economy in the 1990s for an investment bank. She, like many other foreign correspondents, has been sent to Ireland to see what is going on here.

After a while, I wondered why she hadn’t asked me anything about the Government, or the prospect of an election or what new political constellation might emerge here. She joked and in an exaggerated German accent laughed: “David, it doesn’t matter who your next prime minister is, he will have no power — we own you now, and he will do what we tell him.”full article here http://www.davidmcwilliams.ie/2010/10/06/elite-is-preparing-to-sell-country-down-the-river

We the ordinary citizens must now take it upon ourselves to bring about this necessary change.

We do not have the luxury of allowing the political elite to continue to dictate to us how and when we get to have a say in the running of our country (withholding local elections).We need ordinary people in the Dail and not smart ass career politicians who don’t know which side of the car their petrol cap in on! Politicians who tell us our bills are going down when in fact they are going up, politicians who expect us to put up with a third world health service, see our children die of infections easily fought off with the necessary investment in plant and people, while they themselves enjoy the full benefits of private health and masive pensions,  politicians who send their own kids to private schools while they expect us to pay through the nose for a second class rated educational system that is constantly been robbed of essential investment .It is time for that change and the time is now!

To Mr.Gormely and the rest of your cohorts in government we want a general election and not some new con job to keep you in power!

Machholz

No accountabilityfrom Walsh!

Walsh defends Irish Nationwide board
 By SIMON CARSWELL, Finance Correspondent Irishtimes .com
 
THE FORMER chairman of Irish Nationwide, Michael Walsh, has said anyone who was involved in banking during the crisis was unhappy with what had happened.
Speaking as he arrived at Dublin airport on Friday night off a flight from London, Dr Walsh was replying to a question about whether he felt any remorse about the cost of the lender’s bailout or with what had happened at the now State-controlled lender.
He declined to comment on the Government’s move to double the State’s bailout of Irish Nationwide from €2.7 billion to €5.4 billion last week due to higher than expected losses on property loans.
 He also had no comment on his stewardship as chairman of the building society or the management of the institution by former chief executive Michael Fingleton.
 Full story here link http://www.irishtimes.com/newspaper/finance/2010/1004/1224280310716.html

 

Comment:
 Here we have a man who should know better, he was part of a group who presided over the reckless lending to a small group of developers and now he hasn’t the decency to admit or take his share of responsibility, and in all probability he is in receipt of a bonus, pension and probably got a nice sum on his way out the door of Irish Nationwide,the building society he helped to destroy leaving the taxpayers with a 5,000,000,000 : Euro headache.He should be brought before the courts on charges of grosses dereliction of duties and if found guilty he should not be allowed to benefit from his questionable actions whilst working in the Irish Nationwide building society.
Why were the CAB not called in to investigate the obvious fraud that went on there ?
Why are these people able to fly around the world unhindered?One can’t help but get the feeling that they are been protected by the powers that be!
I wonder how many TD’s have loans with Anglo Irish Bank, Irish Nationwide Building society and now Allied Irish Bank ,Could it be that if the truth were known some of our TD’s would be declared Bankrupt and would then have to vacate their Dail seats and the Government would fall.
There should be at least a full independent financial audit done (By an foreign company) on these banks with a full list of the debtors and creditors published for all to see, so we can establish if there was a conflict of interest by any of the ruling élite of this country and if there was then criminal charges must be brought against such persons      

 

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