and so it continues.......the greatest bankjob of all time

evolve

according to the Irish Times website 23rd Dec

Lenihan seeks private order relating to financial institution

SIMON CARSWELL and MARY CAROLAN

Minister for Finance Brian Lenihan applied to the High Court just after 9am seeking to make a private application under the Government's new sweeping bank restructuring legislation.
Lawyers for Mr Lenihan asked Mrs Justice Maureen Clark to have the application "in relation to a financial institution" heard in private and to exclude two Irish Times reporters from the proceedings.
David Barniville SC, with Niamh Hyland SC, for the Minister, applied under Section 60 of the Credit Institutions (Stability) Act 2010 to have the matter heard in private on the grounds that it related to a matter of "extreme commercial sensitivity".
Ms Justice Clark asked if the in-camera application was still relevant given the nature of news bulletins this morning at 7am and 7.30am. Mr Barniville said the issues running in the media were not the issues involved in the application.
The judge asked the two Irish Times reporters to leave the proceedings saying that the courts were "working our way through the legislation" and that it was appropriate to have it heard in-camera.
One of the reporters for The Irish Times asked the court for a brief adjournment to allow the newspaper to consult with lawyers to see if the newspaper wanted to consider opposing the in-camera application because the newspaper had only become aware of this.
The judge said that if she did so, she would negate the powers of the Minister for Finance if she allowed the preliminary application for a private hearing of the matter to be heard in public. She added that she had been told that these were matters of commercial urgency.........

Section 60 of the Act says: "The court may order that any application under this Act, or any part of such an application, shall be heard otherwise than in public or may impose restrictions with regard to the disclosure in open court, publication or reporting of any material that might be commercially sensitive."

The sweeping legislation, which allows the Minister to restructure banks by compelling them to take State capital or forcing them to sell deposits or loan books, was enacted on Tuesday after it was signed into law by President Mary McAleese.

This only compounds the horrible fore-boding feeling I have that we, the taxpayers, are being well and truely shafted by this government and that the financial mess is far more terrible than we're being told. I do understand that some things may need to be kept private so that mass hysteria does not ensue but the powers now wielded by someone as incompetent as Lenihan are frightening. The presence of the likes of Bertie Ahern at the council of state diminishes the credibility of that process too. The lies told by too many government ministers have eroded the small naive trust I had that the political system works. I feel powerless and am tired of sitting on the sidelines moaning and complaining but doing nothing constructive. I've emailed politicians and lambasted canvassers at the door but what can the ordinary "joe bloggs" feasibly do that will make a difference?

Fat_Fingers

everytime i see Bertie Ahern mentioned i think what scam is he up to now..

flutered

he looked very uneasy on the group clip on rte news the other day, in my mind the failures and their props the gomgreens should be labled a wepon of economic descruction, the sooner they are nuteralised the better.

Nolanger

Wouldn't call this a 'great bankjob' when the bankers are far smarter than Lenihan and his political pals. Easy peasy it was.

evolve

Nolanger wrote: »

Wouldn't call this a 'great bankjob' when the bankers are far smarter than Lenihan and his political pals. Easy peasy it was.

My point was obviously not clear ......it's the greatest bankjob of all time as we the taxpayers are being stitched up!

evolve wrote: »

This only compounds the horrible fore-boding feeling I have that we, the taxpayers, are being well and truely shafted by this government and that the financial mess is far more terrible than we're being told. I do understand that some things may need to be kept private so that mass hysteria does not ensue but the powers now wielded by someone as incompetent as Lenihan are frightening. The presence of the likes of Bertie Ahern at the council of state diminishes the credibility of that process too. The lies told by too many government ministers have eroded the small naive trust I had that the political system works. I feel powerless and am tired of sitting on the sidelines moaning and complaining but doing nothing constructive. I've emailed politicians and lambasted canvassers at the door but what can the ordinary "joe bloggs" feasibly do that will make a difference?

Any suggestions?

sollar

evolve wrote: »

My point was obviously not clear ......it's the greatest bankjob of all time as we the taxpayers are being stitched up!



Any suggestions?

The problem is its such a pickle, alternatives are hard to visualise.

All i know is i am disgusted with our government. But at least they will be got rid of in march.

I am also disgusted, frustrated, angry and disillusioned with our banks but they are not so easy to get revenge on. If there was a new bank set up i would move my money to it and wouldn't even mind paying fees. I just resent so much bailing out reckless bankers and then having to pay more in fees now to further help them run their sorry messes.

FreudianSlippers

Seems odd. What court sits at 9am?

ilovesleep

sollar wrote: »

The problem is its such a pickle, alternatives are hard to visualise.

All i know is i am disgusted with our government. But at least they will be got rid of in march.

I am also disgusted, frustrated, angry and disillusioned with our banks but they are not so easy to get revenge on. If there was a new bank set up i would move my money to it and wouldn't even mind paying fees. I just resent so much bailing out reckless bankers and then having to pay more in fees now to further help them run their sorry messes.

Is march not too late? God only knows what kind of damage they are going to do from now to march. Actually when is the election - did i hear a date of the 7th of jan or was i dreaming that up

ilovesleep

evolve wrote: »

My point was obviously not clear ......it's the greatest bankjob of all time as we the taxpayers are being stitched up!



Any suggestions?

You could inform as much people as possible as to whats actually happening in this sorry state. I believe many people may not understand whats happening - they hear bailout and think we are given money when its actually a loan. They hear 4 year plan and think its only a shortterm thing. Maybe im wrong about this and people do know but dont care. Dongalfella had a fantastic, informative reply in one of my threads here. Copy and paste it and email it to everyone. Aside from that i dont know.

ilovesleep

I wonder what sort of scandal will lenihan be getting up to today while he finds everyone in their homes celebrating xmas.