Financial Regulator gets 600K payoff.

Liam Byrne

DARKIZE wrote: »

Pay & pensions are not linked to performance in the PS, so his entitlement is in no way compromised by his incompetence.

Unfortunately not, but in a scenario where all normal people who have paid into pensions are watching them evaporate, seeing one of the idiots involved - and one who was specifically paid to help stop that happen - get a guaranteed, fixed-amount pension is sickening. :mad:

aassddff

Seems he knew about the €7bn in deposits by Irish Life & Permanent into Anglo Irish Bank just before the end of that bank's accounting year.

Surely he should be held to account in some way for not informing his handlers on this one

Darragh29

The guy should be marched up to the top floor of the Central Bank building and f*cked off the highest brick on Dame Street with his 600K golden handshake strapped to his ankles...

Tony Broke

He should be doing time, this is sickening.

Darragh29

Tony Broke wrote: »

He should be doing time, this is sickening.

It's an absolute f*ckin disgrace, the man wake up in the morning to a cop car outside his house and be carried out of the house in handcuffs...

nesf

Guys, calm it down.

thebman

This is exactly what needs to change in Irish politics and I think there are enough people focusing on it for it to happen at last so hopefully we can actually this change in Irish politics, we just need to keep applying pressure via the media and any other outlet that kind of behaviour is wrong and unacceptable.

lostexpectation

lenihan said hte regulartor was going to report this... when, this happened a months ago.

jmayo

nesf wrote: »

Guys, calm it down.

nesf, I think the big problem is we are too calm.
As mentioned on another thread recently, no wonder it took 700 odd years to kick the English out if this is what we are like.

The sooner Irish people start chasing a few of these people out of office and down the street the better for our country. And I do literally mean chasing.
Instead they get a pay off from the Exchequer, a fat pension or get to saunder around playing golf with their buddies.

Anyone know how treason is defined in this country of ours ?

If somebody does say we take action like that, all we get is the inevitable reply that we shouldn't be ruled by tabloid headlines and degenerate into mob rule.
Well maybe a bit of mob rule is what is needed at this stage.

Our parliamentary democracy is now a sham.
The government consult interest groups when making decisons rather than democratically elected public representatives.
The government and ruling parties do not divulge to the people when gross misconduct has been carried out and they set up bills to affectively cover tracks of misconduct.

This government was not given mandate to divert huge chunks of our future tax revenue to affectively saving a financial institution run by it's supporters and friends, in order to save more of it's supporters who happen to be developers.

How many more revelations are going to come out about incompetence in the higher ranks of public services?
How many more golden parachutes for the Molloys, the Nearys of this country's public services ?

How many more revelations are going to come out that one bank helped another bank manipulate their end of year figures by moving large sums of money around ?
How many more bankers like Fitzpatrick, Drumm etc are going to saunder off after leaving the Irish taxpayers picking up the pieces for their deceit, insider dealings (as defined by laws in US etc) and manipulation of share markets ?

thebman wrote: »

This is exactly what needs to change in Irish politics and I think there are enough people focusing on it for it to happen at last so hopefully we can actually this change in Irish politics, we just need to keep applying pressure via the media and any other outlet that kind of behaviour is wrong and unacceptable.

We need to start doing more than just phoning up talk shows and posting on forums about our displeasure and annoyance.

I think we are reaching the point where we need to take to the streets and show the world that the Irish people are not a nation as defined by Messers Fitzpatrick, Drumm, Neary, Clowen, Lenihan and Ahern.

Yes I am angry and I think it's about time we all got angry.

As Yeats would have said we are still fumbling in a greasy till, except it is no longer for halfpence or pence but now for billions.

P. Breathnach

jmayo wrote: »

nesf, I think the big problem is we are too calm... Well maybe a bit of mob rule is what is needed at this stage.

I'd sooner have the present lot than the mob, especially if the mob is anything like the people in this forum who seem to think ranting is a substitute for acting. And I really don't like the present lot.

I'm all for constructive criticism, but we are seeing a lot of destructive criticism in this forum.

There is some point in ranting, if it enables people to let off steam. But once the ranting has been done, it is best followed with something along the lines of: "Okay, I've got that off my chest now; now let's have a cool-headed look at what needs to be done."

Darragh29

P. Breathnach wrote: »

I'd sooner have the present lot than the mob, especially if the mob is anything like the people in this forum who seem to think ranting is a substitute for acting. And I really don't like the present lot.

I'm all for constructive criticism, but we are seeing a lot of destructive criticism in this forum.

There is some point in ranting, if it enables people to let off steam. But once the ranting has been done, it is best followed with something along the lines of: "Okay, I've got that off my chest now; now let's have a cool-headed look at what needs to be done."

Grand, how do we stop job losses then??? How to we move to a position where next month, there are ZERO job losses??? This is the mission, how do you suggest that we achieve this objective???

jmayo

P. Breathnach wrote: »

I'd sooner have the present lot than the mob, especially if the mob is anything like the people in this forum who seem to think ranting is a substitute for acting. And I really don't like the present lot.

I'm all for constructive criticism, but we are seeing a lot of destructive criticism in this forum.

There is some point in ranting, if it enables people to let off steam. But once the ranting has been done, it is best followed with something along the lines of: "Okay, I've got that off my chest now; now let's have a cool-headed look at what needs to be done."

Right then what do you, as a former public servant who is on defined benefit pension, think needs to be done ?

Why could the Financial Regulator have not been FIRED ?
FIRED for incompetence, let him go to labour court.
Why is he on an "Exclusivity payment" for the next few months ?
Who the hell else would want his services, Mugabe perhaps ?

Here is a suggestion, why not immediately enact a law that states former public servants MUST appear in front of Dáil Committees and ministers to answer questions ?

Why has the Fraud Squad and/or CAB not been investigating the dealings in Anglo ?
Why does the minister conveniently pass that option off by saying that the government cannot send them in to investigate as it is outside their control. Once again a government minister appears helpless and passes the buck.

To anyone and everyone, bar of course bankers themsleves, the dealings appear to have been misleading the owners (i.e. shareholders) and possible owners (i.e. investors).
The dealings appear to be bordering on fraud, but of course they were not illegal it appears by Irish law.

You appear to be of the mindset we should just calmly move along, let the government make a few suggestions about changes, all the while the public and the world's investors are wiating for the next scandal to come out.

If we do nothing to root this out, and to most of us that is what it appears the government's plan is, then we will not send out a message to our own future bankers/regulators and to the world that we, as a nation, do not condone this sh***.

The problem with the cooled headed approach is we just move along and here comes another drip feed of more shady goings on and then we move onto the next.
Remember the tribunals and one could ask how could FF be voted back in after all the revelations there.
Eventually the public just loose interest, unless of course maybe as in this case they are loosing their jobs and taking pay cuts.

P. Breathnach

Darragh29 wrote: »

Grand, how do we stop job losses then??? How to we move to a position where next month, there are ZERO job losses??? This is the mission, how do you suggest that we achieve this objective???

I'm not going to get sucked into a silly argument, especially when it is a silly argument about something very important. I have taken part in several discussions about how we address our economic problems: my views are easily ascertainable.

There is no reasonable prospect that we can have zero job losses next month.

A good rant can have some therapeutic value; that apart, it achieves nothing.

Darragh29

P. Breathnach wrote: »

I'm not going to get sucked into a silly argument, especially when it is a silly argument about something very important. I have taken part in several discussions about how we address our economic problems: my views are easily ascertainable.

There is no reasonable prospect that we can have zero job losses next month.

A good rant can have some therapeutic value; that apart, it achieves nothing.

That's the type of defeatist attitude that simply doesn't survive in the end of the private sector that I am engaged in. How come I can create 10 new jobs over the next three months but you say that there is basically nothing that can be done about this economic situation???

P. Breathnach

Darragh29 wrote: »

That's the type of defeatist attitude that simply doesn't survive in the end of the private sector that I am engaged in. How come I can create 10 new jobs over the next three months but you say that there is basically nothing that can be done about this economic situation???

I suppose it doesn't matter that I didn't say that. Just keep on ranting.

Dannyboy83

Banking Supervision
Credit Institutions should address queries related to supervision to
E-mail: bsdadmin@financialregulator.ie
Tel: (01) 410 4184
Fax: (01) 671 1370





Do you think those emails actually go anywhere?


Probably going into a blackhole

nesf

jmayo wrote: »

nesf, I think the big problem is we are too calm.
As mentioned on another thread recently, no wonder it took 700 odd years to kick the English out if this is what we are like.

Comments about throwing people off the top of buildings will not be tolerated here. This is a forum for debate, not the kind of rants that encourage violence against people.

thebman

P. Breathnach wrote: »

I'd sooner have the present lot than the mob, especially if the mob is anything like the people in this forum who seem to think ranting is a substitute for acting. And I really don't like the present lot.

I'm all for constructive criticism, but we are seeing a lot of destructive criticism in this forum.

There is some point in ranting, if it enables people to let off steam. But once the ranting has been done, it is best followed with something along the lines of: "Okay, I've got that off my chest now; now let's have a cool-headed look at what needs to be done."

Great step one.

Political donations are poison to our system. Why do we tolerate them?

The government is doing everything in its power to bend over to the will of developers who have given them money and it is now seriously damaging the future of the country.

Why are we letting invested interests tell out government what to do?

There is no reason why political parties can't run on taxpayers money even if that means increasing taxes to cover the costs. There are a few problems you'd need to iron out but nothing that we couldn't overcome.

The current system is legal corruption.

jmayo

nesf wrote: »

Comments about throwing people off the top of buildings will not be tolerated here. This is a forum for debate, not the kind of rants that encourage violence against people.

Did I state anywhere we should throw anyone off the tops of buildings ?
Although now that you mention it

BTW do you have children ?
Becuase if you do they ain't going to have much of a future in this country with the way things are going.

As I stated already we have this drip drip of squalid actions, with our government telling us they can either do nothing about the situation, it is not their fault or they are working really hard on this and it seems deserve gratitude :rolleyes:
They so damm well paid it is time they earned it.

Yet we see nothing but scandal after scandal coming out, added to the fact the ones that have dragged our entire ecomony to the brink of disaster are not sanctioned, but infact rewarded .

Do you think that other countries' populations would take this sh*** ?

It will take years for Ireland to recover form this.
The reputation of this country as a place to invest is shot to sh**.
And not one person involved in all this has the balls to stand up and say sorry I fu**ed up.

nesf

jmayo wrote: »

Did I state anywhere we should throw anyone off the tops of buildings ?
Although now that you mention it

Nope, but if you read the post two posts up from my request for people to calm down you'll see someone doing just that.

jmayo wrote: »

BTW do you have children ?
Becuase if you do they ain't going to have much of a future in this country with the way things are going.

Yes I do have a kid. My personal politics are one of fiscal conservatism precisely because I don't believe we should leave a large public debt for our kids to clean up after us. It also motivates why I think we need major pension reform and an increase in the age where you're automatically entitled to draw the State pension.

But my views are unusual in this country and there is no party which holds such fiscal restraint as a core tenet and none have convinced me that they'd actually stand up to the unions in this country and batter our public expenditure back to a reasonable level vis a vis our tax take.

jmayo

nesf wrote: »

Yes I do have a kid. My personal politics are one of fiscal conservatism precisely because I don't believe we should leave a large public debt for our kids to clean up after us. It also motivates why I think we need major pension reform and an increase in the age where you're automatically entitled to draw the State pension.

But my views are unusual in this country and there is no party which holds such fiscal restraint as a core tenet and none have convinced me that they'd actually stand up to the unions in this country and batter our public expenditure back to a reasonable level vis a vis our tax take.

I have kid also and it worries me that he won't have a choice about staying here, but will have to emigrate like his grandfather and greatfather before him.
Comforting thought.

As a member of Obama's staff mentioned recently this is a time (a major upheaval) when we can grasp the thorny issues and change things.
Change things for the better in the long run.

Alas in this country we just saunder along, tell anyone that wants to have major overhual to be quiet, be clam, reflect and basically we get more of the same.
Obama slogan of "Yes We Can" in Ireland would be "No We Can't" or even worse "We Can't Be Bothered".

nesf

jmayo wrote: »

As a member of Obama's staff mentioned recently this is a time (a major upheaval) when we can grasp the thorny issues and change things.
Change things for the better in the long run.

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

jmayo

nesf wrote: »

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

Ah now I know why you are a mod on here, you can remember the exact quotes.

The other reason I guess is you probably don't rant as much as few more of us

Viva la revolution

yop

Out of interest WHO DID sign off the payments to Neary?

If Neary did nothing wrong, what was his reason for resigning?

What is the difference between what Anglo Irish did and Irish Life to this? Did they not mislead the government with pumped up deposits after 7billion transfer???
Is it not fraud?
http://news.sky.com/skynews/Home/Business/AIG-Fraud-Office-Probe-Finance-Arm-Of-US-Insurance-Giant-Under-Investigation/Article/200902215221984?lpos=Business_Carousel_Region_1&lid=ARTICLE_15221984_AIG_Fraud_Office_Probe%3A_Finance_Arm_Of_US_Insurance_Giant_Under_Investigation

I will say it again, this country is corrupt with builders, banks and the government in a cosy cartel, neither will rock the boat. The will have their big salaries, cars, houses and pensions and the rest of us will be in the gutter.

Back to the gentry and peasants of famine times again. May sound a bit extreme but we (as in normal Joe Soaps) are heading rapidly backward while the fukers who run our country sit back and protect themselves and their "boys"

Ps. this is not a rant.

lostexpectation

nesf wrote: »

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

pity they won't tell us

markpb

yop wrote: »

Out of interest WHO DID sign off the payments to Neary?

I assume no-one. Presumably there's a document out there somewhere that says when a civil servant resigns, they get paid x with y of a pension. Therefore when Neary leaves and gets what he got, no-one is responsible - it's just policy. This works even better when the policy is the same for people at different levels - then they can say you can't change the policy because you'd be cheating a garda, nurse, etc out of their benefits.

The more of these shenanigans goes on, the more I'm reminded of Yes, Minister and how depressingly similar it is to this country.

yop

markpb wrote: »

I assume no-one. Presumably there's a document out there somewhere that says when a civil servant resigns, they get paid x with y of a pension. Therefore when Neary leaves and gets what he got, no-one is responsible - it's just policy. This works even better when the policy is the same for people at different levels - then they can say you can't change the policy because you'd be cheating a garda, nurse, etc out of their benefits.

The more of these shenanigans goes on, the more I'm reminded of Yes, Minister and how depressingly similar it is to this country.

But the "secret" payment, would it not have to be signed off?

P. Breathnach

yop wrote: »

But the "secret" payment, would it not have to be signed off?

Of course.

akaredtop

The time has come. String up every politician, all union officials, most public servants and our top stars in RTE from the nearest lamp posts. These are the most greedy and vile in our society today.

yop

P. Breathnach wrote: »

Of course.

So you signed it off then..

Would it not be the minister of Finance who signed this off? I am just very curious as the issue been that he signed off 200k of our money to pay someone for failing in their role.
Maybe I am blinkered here but can someone show me how he did not fail in his role of regulation???

I am sorry to harp on about it be we seem to rewarding incompetence are we not? I am all for fairness in every thing I do in my life what ever it be with regards my work, my family or my sport, but when we are watching the carry on of our "leaders" day after day after day and seem powerless to stop it its very hard to stay quite and trust them.


As I have heard on the radio stations what would happen if this occured in any other European country?? Would they sit on their ass and do nothing and then bend over and take another lash? Dont think they would. :rolleyes: