Anglo Irish Bank - SF is arrested!

Khyber

Well the chickens have come home to roost! It is about time in my opinion. When will the rest of them be brought to book?

I wonder will he look for legal aid?

Thoughts anyone?

finisklin

Here's the link for people to peruse.....

http://www.irishtimes.com/newspaper/breaking/2010/0318/breaking25.html

Hindsight is a great thing....when he was flying high and reporting massive profits and taking all the lime light etc. the media loved him. However, there had to be serious question marks by people in the know, perhaps they couldn't substantiate it or whatever. Now he's going to be hung out to dry.....the scape goat of the Irish banking crisis. A lot of Anglo shareholder's who lost ton's may be smiling when reading this.....

There's no sympathy for him.....he's got pay for his crimes.

pog it

At last! Bravo for the link!

Let this only be the first of the crooks!

johndaman66

Khyber wrote: »

Thoughts anyone?

Lock him up and chuck away the key.

pocketdooz

johndaman66 wrote: »

Lock him up and chuck away the key.

Why?

pog it

He needs more than 24 hours questioning.

Still .. bound to have shook him a bit.

johndaman66

pocketdooz wrote: »

Why?

Financial irregularities on a grand scale. Creative accounting, cooking the books, embezzlement or fraud of the highest order, call it what you will. Lack of transparency and downright abuse of position as chairman of Anglo Irish and along with the help of others bringing the Irish banking sector into total disrepute. Should be sent down for a long time IMO.

Now you tell me why not?

stepbar

johndaman66 wrote: »

Financial irregularities on a grand scale. Creative accounting, cooking the books, embezzlement or fraud of the highest order, call it what you will. Lack of transparency and downright abuse of position as chairman of Anglo Irish and along with the help of others bringing the Irish banking sector into total disrepute. Should be sent down for a long time IMO.

Now you tell me why not?

A lot of generalisations there. Remember this. Seany Fitz was not the relationship manager for every loan given out. Lending goes like this:
Customer comes to bank manager with a proposal.
Bank manager proposes loan with a credit paper.
Credit paper is either approved or declined by credit department.

Now ultimatly Seany Fitz was responcible for every transaction that was carried out. That's a given. However, that does not mean he knew the details about each and every one. What I would like to see is a few senior managers in Anglo been brought into a Garda station and questioned about specific deals etc. Of course he has a lot of questions to answers but you have to understand that he may not have had direct dealings with a lot of them.

Where as on the other hand Fingers Fingleton acted as the lender and credit committee all rolled into one. A serious conflict of interest. Surely Fingers should have been called into custody long before Seany Fitz ever was.

I would also like to see David Drumm called in to explain himself considering he was CEO during the period of time under which Seany Fitz was questioned for.

pocketdooz

johndaman66 wrote: »

Financial irregularities on a grand scale. Creative accounting, cooking the books, embezzlement or fraud of the highest order, call it what you will. Lack of transparency and downright abuse of position as chairman of Anglo Irish and along with the help of others bringing the Irish banking sector into total disrepute. Should be sent down for a long time IMO.

Now you tell me why not?

Obviously because he hasn't been proven to broken the law yet. You have to distinguish between what is morally wrong and what is illegal.

stepbar

In fairness anyone wanting to get into the mindset of Seany Fitz should watch this http://www.rte.ie/news/2007/1217/onetoone.html

It's real mindblowing stuff.

johndaman66

pocketdooz wrote: »

Obviously because he hasn't been proven to broken the law yet. You have to distinguish between what is morally wrong and what is illegal.

Ok I am jumping a bit ahead of the game. We do live in a democracy and one is entitled to a fair and unbiased trail. Thats one thing I would wonder from the outset though. Would Fitzpatrick be afforded preferential treatment given the so called tightly knit FF & Co gentlemans club he at least was once a member of.

Fitzpatrick has certainly broken accounting and corporate governance standards and as I mentioned previously has with the help of others brought the banking sector in this country into disrepute. I'd be surprised if he hasn't actually broken the law but sure it is only right that he should be tried before the courts to determine this. No leniency should be shown to this man given the severity of his wrong doing.