Peter Matthews at the Finance Committee

wiseguy

live now

Committee Room 2 - 12pm - Joint Committee on Finance & the Public Service

Oireachtas Live
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o

Windows Media Player/VLC stream:
http://asx.heanet.ie/oireachtas/committee_2_broadband.asx

Flash
http://www.oireachtas.ie/viewdoc.asp?fn=/documents/livewebcast/Committee2Flash512.htm

HEAnet stream is top quality, I hope its recorded fully


Highlights so far:

* Frank Fahey admits he doesn't understand the NAMA funding (he is stunned that the NAMA bonds carry an interest coupon!)

* "NAMA a dishonest cop out"

* "close Anglo close Irish nationwide"

* "4-5 years close down anglo where will cost 17 billion less to close Anglo and Ins than what is currently being proposed."

wiseguy

* "We could go thru the whole NAMA process without getting any credit flowing into the economy!"

FFS!

32 billion flowed out of deposits in Irish banks in first half of 2009...

Frank Fahey - "You (Peter Matthews) disagree with national and international opinions..."

Peter Matthews - "How do I disagree?"

...

Peter Matthews - "Thats incorrect!"

...

Frank Fahey - "IMF stated that NAMA is a vital component in restoring Irish financial system, Mathews is here disagreeing with ECB, CB and IMF"

Frank Fahey - "It is clear that best forward is NAMA!"

Frank Fahey - "We can borrow from ECB at 1.5%"

Frank Fahey - "The analysis he the so called expert made is wrong"

...

Peter Matthews - "You dont understand my points or how ECB works"

Peter Matthews - "Anglo and Nationwide should be closed, many bankers, economists, accountants agree"

wiseguy

Peter Matthews - "You got this document which is an alternative to NAMA, why did you say there is no alternative, your government is hell bent on saying there is no alternative"


thats the nail in the coffin


Peter Matthews - "Stop with the cronyism! Please step aside if you (Frank Fahey) dont understand whats going on, 400,000 people need jobs"

Peter Matthews - "Alot of the advice is here in the country under our noses"

hinault

I would like to have heard Peter Matthews at the committee.

Obviously they have finished sitting today.

wiseguy

hinault wrote: »

I would like to have heard Peter Matthews at the committee.

Obviously they have finished sitting today.

I hope there will be a recording made available later or someone youtubed it, keep an eye on the pin thread > http://www.thepropertypin.com/viewtopic.php?f=4&t=31830

He showed Frank Fahey and his FF cronies for the incompetent fools that they are

hinault

wiseguy wrote: »

I hope there will be a recording made available later or someone youtubed it, keep an eye on the pin thread > http://www.thepropertypin.com/viewtopic.php?f=4&t=31830

He showed Frank Fahey and his FF cronies for the incompetent fools that they are

Thanks for this lead, Wiseguy.

Sponge Bob

He was there only a few months back and it was evident that Richard Bruton could not understand what he was saying. Fahey was a slimeball that day too.

Liam Byrne

Did RTE run this live ?

If not, why not ?

zootroid

Excuse my ignorance, but who is he?

ressem

His blog... http://bankermathews.com/about/

He's posted Frank Fahey's critique and his response on his site.
http://bankermathews.com/2010/07/21/oireachtas-joint-committee-on-finance-and-the-public-service/

Slydice

Someone put it up on youtube. 10 videos (links below) but Video 9 really shows Ireland for what we are.

Honestly like, a fianna fail politician whose been nicknamed '40 Gaffs' trying to bluff that he has a clue about NAMA.

Is it for us or for himself and his forty gaffs that he thinks NAMA and keeping Anglo alive is a good idea?

Well Peter Mathews took him to account. Here is video 9:

https://www.youtube.com/watch?v=wNFbl525fkM

The 10 Dail Finance Committee videos from youtube:
Part 1: http://www.youtube.com/watch?v=IGJcilS0OuI
Part 2: http://www.youtube.com/watch?v=7pIInx_0cnA
Part 3: http://www.youtube.com/watch?v=bhg5kx69wtg
Part 4: http://www.youtube.com/watch?v=mJKulH2P1yE
Part 5: http://www.youtube.com/watch?v=pDXP0zYEwnA
Part 6: http://www.youtube.com/watch?v=Vkg2eUTFofU
Part 7: http://www.youtube.com/watch?v=Zdfbzx7p8-I
Part 8: http://www.youtube.com/watch?v=twemQAkIj6g
Part 9: http://www.youtube.com/watch?v=wNFbl525fkM
Part 10: http://www.youtube.com/watch?v=Dg6zrOF5dIM

wiseguy

Thank you very much, I am watching again in amazement and bewilderment.

Where the hell are all our elected representatives? drinking down the pub?? Why is there only a few of them in room and some walk out in middle.

edit: and now anger again

Liam Byrne

Some difference in authority comes across even in the first few minutes.....the chairman or whatever is embarrassing; reading (sounding bored / put out by having to be there) from a script, while Peter Matthews from the word go knows his stuff and has no script.

wiseguy

The last one is the best when he buries FF and shows him for an inbred that he is (am I allowed to say that here? :P)

The most interesting part is that the banks in Ireland could have been saved for 17 Billion (funded by government and bondholders), 10Billion to AIB, the rest to BOI and EBS

While leaving Anglo and Irish Nationwide ("who were badly ran") to sink

To quote

"Anglo should be closed IMMEDIATELY"

"it will save 17 billion"

Sponge Bob

Mathews is saying that we could have saved AIB and BOI but ONLY if we let Anglo and INBS sink. Our refusal to do this ( politically) will leave us with no banking or clearing system by the end fo 2012 at this rate of going

wiseguy

There was a related article at irisheconomy.ie few days ago about Frank Fahey's (deliberate?) complete and utter lack of understanding of NAMA, up to 99 comments now :eek:

fontanalis

The only person worse than Frank Fahey is a Frank Fahey voter.

jmayo

wiseguy wrote: »

Thank you very much, I am watching again in amazement and bewilderment.

Where the hell are all our elected representatives? drinking down the pub?? Why is there only a few of them in room and some walk out in middle.

edit: and now anger again

You should have watched him the last day he was in when he was only given a few minutes after dukes and the rest of the Anglo bunch cocked their noses up at Shane Ross's questions regarding the appointment of ex ff senator and ex AIB risk officer to board of Anglo.
That display by dukes was disgusting, but that is another topic.

The most telling little thing that happened during Matthews submission that day was when he menitoned either Hank Paulsen or Ben Bernanke, he had to add in who they were as an after thought becuase he could probably see the blank looks on the faces of the gombeens interviewing him.

michael ahern, the chairman, comes across no better than a guy who has absolutely no experience, but was shoehorned into being the chariman of the local group water scheme.

fontanalis wrote: »

The only person worse than Frank Fahey is a Frank Fahey voter.

What about his two constituent families that got 75% of the two million odd fund for "lost at sea trawellers" organised and run by the same frank fahey ?
Thye did very well out of voting for ould frankie boy. :mad:

BTW in 2009 the same frank fahey was telling FTBs at some meeting in Galway that now was a good time to buy. :rolleyes:

fontanalis

jmayo wrote: »

What about his two constituent families that got 75% of the two million odd fund for "lost at sea trawellers" organised and run by the same frank fahey ?
Thye did very well out of voting for ould frankie boy. :mad:

BTW in 2009 the same frank fahey was telling FTBs at some meeting in Galway that now was a good time to buy. :rolleyes:

The worse thing is that wasn't necessarily a bad idea, but leave to a gombeen bogger to turn it into something truly ugly.
That property meeting really took the piss, I wonder if anyone took his advice.

Sponge Bob

fontanalis wrote: »

That property meeting really took the piss, I wonder if anyone took his advice.

Yep, a nurse I know was at it and bought afterwards.

the_dark_side

jmayo wrote: »

BTW in 2009 the same frank fahey was telling FTBs at some meeting in Galway that now was a good time to buy. :rolleyes:

well you can be damn sure that he was saying this on behalf of his developer friends in Galway who were stuck with a load of property they couldn't get rid of.. and yet he has the neck to expound to Peter Mathews on how re capitalising the banks should work

murphaph

Why don't we vote for men like Peter Mathews to run our country and instead elect idiots like Frank Fahey, Jackie Healy Rae, Brian Cowen etc. etc. Until Irish people start taking their vote seriously, we are fcuked as a nation.

jmayo

jmayo wrote: »

What about his two constituent families that got 75% of the two million odd fund for "lost at sea trawellers" organised and run by the same frank fahey ?
Thye did very well out of voting for ould frankie boy. :mad:

I can't figure out how come frankie the landlord has not been pulled on fraud charges over this scheme.
AFAIK he affectively lined up the two main beneficaries, advised them oabout applying before the scheme became public and available to other applicants.

fontanalis wrote: »

The worse thing is that wasn't necessarily a bad idea, but leave to a gombeen bogger to turn it into something truly ugly.
That property meeting really took the piss, I wonder if anyone took his advice.

I presume you mena the lost at sea compensation scheme was an ok idea ?

murphaph wrote: »

Why don't we vote for men like Peter Mathews to run our country and instead elect idiots like Frank Fahey, Jackie Healy Rae, Brian Cowen etc. etc. Until Irish people start taking their vote seriously, we are fcuked as a nation.

Yeah but most Irish voters would say he is boring and not the type of lad you would want to go drinkin with or have a sing song with. :rolleyes:
Also I wouldn't reckon he would be pleased with listening to some gombeens demanding medical cards, planning permission or jobs for the kids.

fontanalis

jmayo wrote: »

I can't figure out how come frankie the landlord has not been pulled on fraud charges over this scheme.
AFAIK he affectively lined up the two main beneficaries, advised them oabout applying before the scheme became public and available to other applicants.



I presume you mena the lost at sea compensation scheme was an ok idea ?



Yeah but most Irish voters would say he is boring and not the type of lad you would want to go drinkin with or have a sing song with. :rolleyes:
Also I wouldn't reckon he would be pleased with listening to some gombeens demanding medical cards, planning permission or jobs for the kids.

Yeah, wasn't the idea something like the head of the household was lost along with the vessel (means to make a living) so the family gets compensation.

Head The Wall

It was purely to do with the boat as far as I can recall, any salts of the sea here know exactly, too lazy to find it now

Liam Byrne

Is it the same guy that's on TV3 now ?

oceanclub

Sponge Bob wrote: »

Yep, a nurse I know was at it and bought afterwards.

In all seriousness, how does she feel now? Especially taking advice from the likes of Fahey?

Everyone should watch those last two clips with Mathews and Fahey.

P.

AlekSmart

Keeping Mr Fahey`s all too obvious fiscal ineptitude in mind it`s good to see the "mainstream" print media at last awakening to the precise events of "Guarantee Night" .

http://www.independent.ie/opinion/analysis/emmet-oliver-we-still-dont-know-why-banks-were-guaranteed-2269659.html

The insistence of Cowen and Lenihan upon absolute secrecy in the furtherance of some vague "Commercial Sensitivity" clause is a major indicator that something VERY wrong was perpretrated upon Ireland Teo. that night.

Whilst one would hope,given their recent performances,that the likes of Mssrs Fahey & Andrews were not directly involved,there is the appalling vista opening up that they,or others of similar ethos were !

Currently and increasingly,the Irish Apparatus of State is being highly pro-active about protecting a small number of individuals from self-inflicted ruin.

The rest of the Citizenry is expected to meekly accept that there exists some level of compulsion upon us all to rescue what are at best some dubious characters and most likely some highly criminal ones.

Given that that duty is being required of us by our "Democratic" Government we are therefore due a Full detailed account of "What the Bankers Said"......Nothing less will suffice.

Sponge Bob

oceanclub wrote: »

In all seriousness, how does she feel now? Especially taking advice from the likes of Fahey?

I daren't ask