Rally for The Quinn-were you there?

billybudd

So if Sean quinn owes for example 2.9 billion and Anglo Irish bank recieved 29.1 billion in bail out funds then where the fack is the rest of the money and why is Sean Quinn the only one being put in jail?

oldyouth

darkhorse wrote: »

They, Anglo/IBRC refused his help in trying to recover the money.

When you finally get the fox out of the hen house, you don't let him back in when he asks

Biggins

robbiezero wrote: »

duped by who?

the bank didnt know he was gambling on them.

darkhorse wrote: »

And this is fact, is it?

YES.

Simple reported news sample:

Anglo didn't encourage Sean Quinn money to build this stake
Anglo Irish Bank was horrified when it discovered the scale of Sean Quinn's stake because they knew they could both go down if the full story was public.

http://www.bbc.co.uk/news/uk-northern-ireland-19063419


So far NOT ONE of Quinn supporters is willing or able to show evidence that the Anglo knew Quinn was reckless gambling.
Where is the evidence that they knew!

In fact when they found out - they were deeply shocked and tried immediately to do something about the situation.

---

The Questions His Supporters Refuse To Answer!

The living in denial Quinn supporters are still refusing to answer the following:

How do they justify supporting someone that has already been found GUILTY of breaking serious state laws?
In context of they consistently giving out about others breaking possible banking laws and wanting them to face justice, how can they conveniently overlook one family of banking connected law breakers while saying they want others to be jailed?

The only daft answer they keep repeating (as if repeating over and over is going to make a difference and make it any more valid – when its just stupid!) is that he created jobs! That apparently with his supporters gives him a free “Get out of jail card!” …And they continently forget that he also though his OWN reckless many actions (which too he has reluctantly admitted – only when faced with weighty evidence) caused down the line further unemployment equally! …But shush …lets not mention that bit! His supporters get upset when that stark reality and other inconvenient details to them, is brought up!

---

There is something else that is not in dispute: that Quinn is openly, flagrantly and quite proudly trying to hang on to this money that belongs to us. As he said on Sunday, he took a “very conscious decision” to do “everything in our power to take as many assets as we could”. The basic intention is very simple – to transfer assets from the Irish people to the Quinn family.

http://www.irishtimes.com/newspaper/opinion/2012/0731/1224321157051.html?via=mr

Thus, for example, the status of Karen Woods, a part-time receptionist with Joe Duffy Motors in north Dublin, as recipient of one of the largest public salaries in Ireland. The lucky Karen, then the girlfriend (now the wife) of Seán Quinn jnr, was paid €320,297 after tax (the equivalent of at least €400,000) last year by a Russian company whose assets belong entirely to the Irish people.

Ronin247

If Quinn proves that he was duped and defrauded by the manipulation of the balance sheets by Anglo directors and his loan is declared invalid then he does not owe this money to us, the Irish taxpayers.
I realise this is a big "if" but a lot of things in this case are not being answered by either side.Would it not have been better to have sorted out the Quinn v Anglo lawsuit first because everything else hinges on that.

Quinn had a 28% stake that he foolishly built up,the maple 10 took on 10% of this stake with 451 million of illegal, unsecured loans from Anglo,the Quinn children bought 15% and 3% were sold on the open market........If 10% cost 451 million then how does 15% cost 2,340 million??

Quinn loaned himself 288 million from the insurance company, which was reportedly a cash cow and profitable, to cover some of his losses on Anglo.When the regulator found out they censured Quinn and removed him as a director.When Quinn insurance was taken over its reserves were underfunded and we would have to pay a 2% levy to make up this shortfall.
Suddenly the losses in Quinn insurance in the year and a half it has been in administration have a potential to reach 1.63 billion and the 2% levy is here to stay,where did this figure come from??
http://namawinelake.wordpress.com/2012/08/08/the-quinn-insurance-debacle-or-how-on-earth-have-we-ended-up-on-the-hook-for-over-e1bn-or-1-of-our-gdp/

There is so much crap involved in this whole debacle and we the public will be the ones who end up paying the bill....as usual

Still think that Quinn should be prevented from asset stripping till this whole thing is sorted out.

Biggins

Sean Quinn’s disastrous €3 billion punt on Anglo Irish Bank shares saw the Cavan entrepreneur buy over half a billion worth of shares in the failed bank on a single day, on two separate occasions.

Documents filed with the High Court, as part of the Quinn family’s action against the failed bank, give a detailed breakdown of Quinn’s extraordinary gamble.

The documents show that he bought more than €400 million worth of Anglo shares in a single day through contracts for difference (CFDs) on no fewer than five occasions. On some of these occasions he was effectively renewing his existing position in the market, while in others he was buying new shares...

The documents also reveal how Quinn made a last-ditch attempt to get back some of his losses through a massive €506 million renewal of his Anglo bet on July 4, 2008, just a few weeks before throwing in the towel and closing down the CFD position...

A detailed analysis of the transactions also shows... By the end of September Quinn had spent €750 million of his own money buying Anglo CFDs, and the bank’s loans to Quinn to cover losses ended up at over €2.3 billion.

The real turning point began in June 2007 when Quinn bought CFDs at €17.22 per share, the highest price he would pay for them. In his first month of buying – October 2005 – he invested €95 Million.

http://www.businesspost.ie/#!story/Home/News/Quinn+documents+reveal+half+a+billion+punt+on+Anglo+shares+in+just+one+day/id/314a5d17-e335-486a-8240-5ea3eef581cc

Ronin247 wrote: »

...Still think that Quinn should be prevented from asset stripping till this whole thing is sorted out.

We, the state have tried that previously - and as we have seen, he didn't care for that - so he and his family ignored the court ruling and are now paying the price for it.

handlemaster

darkhorse wrote: »

But ya still dont get it. We should'nt be where we are, and no matter what you read in the media, the Quinn family did'nt put us where we are. This spiel that is put out by propagandists, is put out precisely to influence the public to believe just one side of the story, (and please dont tell me that I am wrong, just look at the supreme court finding against the government, on the upcoming referendum for example). It was'nt the Quinns that put the bank guarantees in place. Now, as I said before, Quinn broke the law and should be punished, but after the main case is heard, to determine if the bank acted illegally in their actions, which I think should have been dealt with before now.

Saying we shouldn't be here isn't going to change the fact that we are. I don't think the public are naive enought to believe everything that they heard. But on the balance of evidence presented so far theres only one conclusion that the Quinns owe the money but refuse to pay.

The referendum has nothing to do with this case.

The bank guarantee has nothing to do with the case. It would still be the same the bank lent the money, didn't give it as a gift.

MagicSean

Why do people think Sean Quinn is the only guy being sought for his debts. Anglo are doing a lot in this regard. I've read of them challenging English bankruptcy decisions and trying to claim properties in the US. Sean Quinn is just the most high profile because of his delusional supporters

handlemaster

MagicSean wrote: »

Why do people think Sean Quinn is the only guy being sought for his debts. Anglo are doing a lot in this regard. I've read of them challenging English bankruptcy decisions and trying to claim properties in the US. Sean Quinn is just the most high profile because of his delusional supporters

Do people only think that ?

darkhorse

Biggins wrote: »

Simple reported news sample:

http://www.bbc.co.uk/news/uk-northern-ireland-19063419
But shush …lets not mention that bit!

Lets not mention this either:

Sean Quinn’s difficulties with Anglo Irish Bank originated as a private affair. Sean Quinn, a private individual, entered into an arrangement with Anglo Irish Bank, a private corporation, using his own assets for collateral, private companies trading at considerable profit. With annual profits of some half a billion euro, Quinn could have effected a full pay-off to Anglo within an agreeable time frame. In reality, it was a totally private affair.
It all might have – and should have – ended there, to everyone’s satisfaction.
However, in an incredible act of unprecedented treason, the Irish government of the day under Cowen and Lenihan, when faced with a systemic banking implosion, decided to take the huge private gambling debt of banking fraudsters and transfer it to the unsuspecting Irish public. The Irish people and their children and their grandchildren would now have to pay for the criminal excesses of the banksters.

hardCopy

darkhorse wrote: »

Lets not mention this either:

Sean Quinn’s difficulties with Anglo Irish Bank originated as a private affair. Sean Quinn, a private individual, entered into an arrangement with Anglo Irish Bank, a private corporation, using his own assets for collateral, private companies trading at considerable profit. With annual profits of some half a billion euro, Quinn could have effected a full pay-off to Anglo within an agreeable time frame. In reality, it was a totally private affair.
It all might have – and should have – ended there, to everyone’s satisfaction.
However, in an incredible act of unprecedented treason, the Irish government of the day under Cowen and Lenihan, when faced with a systemic banking implosion, decided to take the huge private gambling debt of banking fraudsters and transfer it to the unsuspecting Irish public. The Irish people and their children and their grandchildren would now have to pay for the criminal excesses of the banksters.

Firstly, Quinn Insurance never really earned any profits. Their reserves were so underfunded that they need to be topped up more than the companies total historic 'profits'.

Secondly, the only way we can reduce the burden of Anglo on taxpayers is by chasing down every loan owed to Anglo/IBRC/The State.

If Quinn felt Anglo had a case to answer he had legal avenues open to him. Instead he chose to break the law.

darkhorse

handlemaster wrote: »

The referendum has nothing to do with this case.

The bank guarantee has nothing to do with the case.

I suppose your right, and in hindsight I really should'nt be trying to tarnish the govt.(who happen to own anglo/ibrc on behalf of taxpayers), but I am just trying to point out that a govt. is not always acting in the best interests of the people that elect them, ie. putting the burden of payment for a bankrupt bank on taxpayers, for years to come. You see, you cant say on the one hand that the quinns owe the taxpayer, and then at the same time say the bank guarantee, or more to the point the nationalization of a bankrupt bank, has nothing to do with the case, as they are relative.

darkhorse

hardCopy wrote: »

Firstly, Quinn Insurance never really earned any profits. Their reserves were so underfunded that they need to be topped up more than the companies total historic 'profits'.

And you know this how?

handlemaster

darkhorse wrote: »

I suppose your right, and in hindsight I really should'nt be trying to tarnish the govt.(who happen to own anglo/ibrc on behalf of taxpayers), but I am just trying to point out that a govt. is not always acting in the best interests of the people that elect them, ie. putting the burden of payment for a bankrupt bank on taxpayers, for years to come. You see, you cant say on the one hand that the quinns owe the taxpayer, and then at the same time say the bank guarantee, or more to the point the nationalization of a bankrupt bank, has nothing to do with the case, as they are relative.

if you like the people now own the bank and the bank is chasing the money. Its not the issue. The issue is someone borrow a hugh amount of money didn't pay it back and the bank wants to get the collatoral that was given. They are been obstructed from doing so deliberately.

hardCopy

darkhorse wrote: »

And you know this how?

http://www.irishtimes.com/newspaper/finance/2012/1011/1224325145269.html

Berlin at night

Why do corrupt politicians, buisness men, bankers get so admired by people in this country?

handlemaster

Berlin at night wrote: »

Why do corrupt politicians, buisness men, bankers get so admired by people in this country?

That's counter to what is generally said that we are a nation of begrugers

darkhorse

oldyouth wrote: »

When you finally get the fox out of the hen house, you don't let him back in when he asks

No, ya just bring in a pack of wolves, and let them take charge.

darkhorse

robbiezero wrote: »

No, they secretly knew and thought it was a great idea to expose their bank like that.

A very mature answer.

darkhorse

handlemaster wrote: »

I don't think the public are naive enought to believe everything that they heard.

Lets just hope their not.

mrkr

Double post

mrkr

Am Chile wrote: »

Just came across a video on youtube of the full rally for the quinns last weekend-to my surprise Ben Gilroy attended the quinn rally and spoke at it-43 minutes into the video you will see Ben speaking.

Shame this video is private.

handlemaster

mrkr wrote: »

Shame this video is private.

i cant believe people are still sucked into this quinn BS .