The Anglo Irish Tapes

TheFOB

Ernst & Young gave the Financial Statements of Anglo for the YE 30 Sept 2008 the big thumbs up. Essentially saying the bank was a going concern and had no real issues.

E&Y Opinion on Anglo

In our opinion:

• the Group financial statements give a true and fair view, in accordance with IFRSs as adopted by the European Union, of the state of affairs of the Group as at 30 September 2008 and of its profit for the year then ended;
  
• the parent Bank's financial statements give a true and fair view, in accordance with IFRSs as adopted by the European Union as applied in accordance with the Companies Acts, 1963 to 2006, of the state of affairs of the parent Bank as at 30 September 2008;

http://www.ibrc.ie/About_us/Financial_information/Archived_reports/Annual_Report_2008.pdf

E&Y charged €1.8m for the above crock of ****.

twinytwo

Mardy Bum wrote: »

KPMG girl was 16, naive and extremely intoxicated. These boys are very smart, egotistical and apparently fearless.

this all goes back to the major problem in this country... no one has to take responsibility for ANYTHING. Its always someone elses fault.

Leslie91

twinytwo wrote: »

this all goes back to the major problem in this country... no one has to take responsibility for ANYTHING. Its always someone elses fault.

And why we are probably seen as a basket case, a laughing stock coming hard on the heels of the whole 'pay not tax in Ireland' thing.

Ireland Inc simply has no credibility now, we have morons at the wheel, speeding us brakeless headlong into a large concrete wall.

How can people do what they did?, some say greed, some say incompetence, some say both.

I just don't get it. These people are morally and ethically bankrupt (excuse the pun), may they rot in hell.

AnOrdinaryJoe

TheFOB wrote: »

Jesus Christ. Cover your arse much..

I forgot..... they smell nice too !

Leslie91

twinytwo wrote: »

this all goes back to the major problem in this country... no one has to take responsibility for ANYTHING. Its always someone elses fault.

Yeah and the whole 'no protest' thing gets me too. What is it about us that we can't protest en masse until something is done? I'm not saying I am someone who can either, I'd like to but jeeez................... it's like I have to go to work to feed my family, how could I take a day off to stand in O'Connell St etc etc. The French have no problem doing this.

MrPoker

Leslie91 wrote: »

And why we are probably seen as a basket case, a laughing stock coming hard on the heels of the whole 'pay not tax in Ireland' thing.

Ireland Inc simply has no credibility now, we have morons at the wheel, speeding us brakeless headlong into a large concrete wall.

How can people do what they did?, some say greed, some say incompetence, some say both.

I just don't get it. These people are morally and ethically bankrupt (excuse the pun), may they rot in hell.

And yet people don't want change or to get out and protest. Look at the tone of many of the posts in this, how dejected and defeated we have become. Almost as if we are in a sense of denial at how it has come to this. Scandal after scandal whether it be economic, the church or something else. The country is broken, our credibility is damaged and it needs to be fixed.

AnOrdinaryJoe

The report (US Senate Report) quoted an email from HSBC Middle East Deputy Chairman (and current AIB Chairman) David Hodgkinson

*** and still the tills (were) kept ringing ***

One of the report’s largest sections focuses on HSBC Mexico, which shipped $7 billion in cash to HSBC’s U.S. bank in 2007 and 2008 — outpacing all HSBC affiliates and other banks in Mexico and leaving U.S. authorities concerned the volumes could only be supplied by the illegal drug trade, the report said.

Iran Transactions

In the six years until 2006, two HSBC affiliates sent thousands of Iran-involved transactions through the U.S. bank without telling the U.S. bankers they involved Iran. Internal communications show the U.S. bankers were aware that some of the transactions were linked to Iran in violation of U.S. sanctions. Similar transactions came from a list of other prohibited jurisdictions including North Korea, Cuba, Sudan, and Burma.

In 2005 and 2006, HSBC processed about 1,800 U-turn transactions through a correspondent account at JPMorgan Chase & Co. The report quoted an email from HSBC Middle East Deputy Chairman David Hodgkinson saying that HSBC’s U.S. unit was “unwilling to process them for reputational risk reasons.”





Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/HSBC-money-laundering-iran/2012/07/16/id/445538#ixzz2XKhQ2igc
Urgent: Should Obamacare Be Repealed? Vote Here Now!

AnOrdinaryJoe

When we hear the oft used phrase 'we're all in it together', I used to think it was the period of austerity 'we're all' in these days........ now I'm not sure that's what it means ! Clarification required: Who is it being referred to...... and in what context ?

RiverOfLove

Isn't it ironic how Ireland when it suits us can ignore many EU rulings and regulations and laws but conviently abide by the abolishing of the death penalty ruling.

Is there any EU regulation that will get fcukers banged up in jail not that an irish prison will be any justice at all, at all. Holiday camps apparently.

rusheen

The government didn't know what do to during boom times , they didn't know what at the bust of 2008, at the bank bailouts , at the IMF rescue deal , they don't know what their doing now . Going by history The future doesn't look too promising........

Ireland needs something it never had ever , Total unity of all people for the better good .

SpaceTime

It's making the German papers :


http://www.spiegel.de/wirtschaft/soziales/topmanager-von-irischer-bank-sang-deutschland-ueber-alles-a-907790.html

http://translate.google.ie/translate?hl=en&ie=UTF8&prev=_t&sl=auto&tl=en&u=http://www.spiegel.de/wirtschaft/soziales/topmanager-von-irischer-bank-sang-deutschland-ueber-alles-a-907790.html#submit

http://www.spiegel.de/wirtschaft/soziales/topmanager-von-irischer-bank-sang-deutschland-ueber-alles-a-907790.html

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.spiegel.de%2Fwirtschaft%2Fsoziales%2Ftopmanager-von-irischer-bank-sang-deutschland-ueber-alles-a-907790.html

France :

http://www.lemonde.fr/economie/article/2013/06/26/les-revelations-sur-le-sauvetage-en-2008-d-anglo-irish-font-scandale-en-irlande_3436795_3234.html

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.lemonde.fr%2Feconomie%2Farticle%2F2013%2F06%2F26%2Fles-revelations-sur-le-sauvetage-en-2008-d-anglo-irish-font-scandale-en-irlande_3436795_3234.html

Belgium:

http://trends.knack.be/economie/nieuws/finance/ierland-in-shock-over-bankiers-die-lachen-met-eigen-bankroet/article-4000337262016.htm
http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://trends.knack.be/economie/nieuws/finance/ierland-in-shock-over-bankiers-die-lachen-met-eigen-bankroet/article-4000337262016.htm&usg=ALkJrhgL-IM6E_wl-9uLGW_5y59f-V7N6Q

Boombastic

I hope this is not all they can pin on him, from what I can see the penalty would be up to €5,000 or a max of 12 months inside, or both


Fresh questions over Drumm's public statements on bank's finances



If the then bank chief executive's stated opinion differed from his true understanding at the time, it could leave him open to legal action.

Issuing a misleading statement to the Irish Stock Exchange, or in relation to a bank whose shares are traded on the exchange, is an offence under Ireland's market abuse law.

tayto lover

Anyone who commits a crime or is suspected of committing a crime against the U.S. is chased down diligently until captured. People try to hide in foreign embassies or seek refuge in foreign airports until handed over.

In Ireland our Govt and legal system try to find reasons not to extradite them and try them. Just look at Drumm, they even sent him a feckin tax rebate :mad:

Are they afraid of what he might disclose in a trial if he is sent back?
Have they even tried to extradite him?

http://www.thejournal.ie/david-drumm-given-e12k-tax-rebate-in-ireland-according-to-us-court-documents-138713-May2011/

Boombastic

tayto lover wrote: »

............................Just look at Drumm, they even sent him a feckin tax rebate :mad:
.........................

Had to google that because I hadn't heard/or maybe did and forgot


David Drumm given €12k tax rebate in Ireland



Unbelievable, I don't know whether to laugh or cry at the stupidity :mad:

SpaceTime

I'm just wondering if any of this could be of interest to the FEC in the US?
Was Anglo US quoted?

They might even just want a listen for the laugh.

Zebra3

TheFOB wrote: »

Ernst & Young gave the Financial Statements of Anglo for the YE 30 Sept 2008 the big thumbs up. Essentially saying the bank was a going concern and had no real issues.


E&Y charged €1.8m for the above crock of ****.

Are E&Y open to legal action as a result of this?

Can the taxpayer/state through its ownership of the former Anglo Irish Bank take legal action against them?

Will the individuals involved face action?

(No laughing at the back).

Birroc

The big accountancy firms seem untouchable in Ireland. They have made major mistakes (or turned a blind eye) and seem to get away with the "who knew?" defence.

Not good enough.

Boombastic

Zebra3 wrote: »

Are E&Y open to legal action as a result of this?

Can the taxpayer/state through its ownership of the former Anglo Irish Bank take legal action against them?

Will the individuals involved face action?

(No laughing at the back).

Former Anglo Irish Bank to sue auditors who will ‘vigorously defend’ case 30/11/12

Finance Minister Michael Noonan said in September that IBRC had not been able to identify the exact personnel responsible for the auditing of the former Anglo Irish Bank’s accounts in 2008.






Probe of Anglo auditor set to proceed


A spokesperson for the board said that its investigation into Ernst & Young began in 2011 but that the investigation had been put on hold until the Director of Public Prosecutions finishes criminal investigations into Anglo Irish Bank.

Geomy

I think there could be a good case to bring these guy's to a European Court, it's not just us who we're affected by all this. ..

For Forks Sake

Geomy wrote: »

I think there could be a good case to bring these guy's to a European Court, it's not just us who we're affected by all this. ..

Everyone's a bloody legal expert this week. Pray tell, under what existing law would you be taking this case and I might consider supporting it....

BuilderPlumber

Birroc wrote: »

The big accountancy firms seem untouchable in Ireland. They have made major mistakes (or turned a blind eye) and seem to get away with the "who knew?" defence.

Not good enough.

Another crowd of glorified scumbags these. KPMG, PWC, E&Y and others have been part and parcel of covering up bank fraud not only here but everywhere.

Also, the professional accounting exams are designed in such a way that they are impossible for new entrants into this profession to pass. ACCA, CIMA and the Chartered Accountants bodies need ALL to be reformed too. A closed corrupt shop is what the financial sector has become.

Gmol

Yep why are the auditors paid for give Anglo a clean bill of health pratically the day before they collapse, it's either incompetence or something else but how they can swan off with 1.8million, why can't those particular auditors be called to account for their signing off on the books, there should be financial penalties for them as well.

Birroc

BuilderPlumber wrote: »

Also, the professional accounting exams are designed in such a way that they are impossible for new entrants into this profession to pass. ACCA, CIMA and the Chartered Accountants bodies need ALL to be reformed too.

How do you mean? Anyone can sit/pass those exams?

Sergeant

BuilderPlumber wrote: »

Also, the professional accounting exams are designed in such a way that they are impossible for new entrants into this profession to pass. ACCA, CIMA and the Chartered Accountants bodies need ALL to be reformed too. A closed corrupt shop is what the financial sector has become.

That's funny, as I was out last week to celebrate a friend of mine passing his accountancy exams. I suppose he's part of the elite too? Better drop him a text and let him know about his sudden and dramatic elevation to becoming a member of the shadowy elite.

BuilderPlumber

Birroc wrote: »

How do you mean? Anyone can sit/pass those exams?

Anyone can sit them yes. Passing them? No. Some of them have an 87% failure rate. I think only those who have a certain mindset can pass them. They are designed in such a way. I am not an accountant or accountancy student now or ever but know friends of mine who were and were repeating their ACCAs over and over and over. They also happen to be honest!!

BuilderPlumber

Gmol wrote: »

Yep why are the auditors paid for give Anglo a clean bill of health pratically the day before they collapse, it's either incompetence or something else but how they can swan off with 1.8million, why can't those particular auditors be called to account for their signing off on the books, there should be financial penalties for them as well.

It is something else! They are paid to cook the books! Incompetence which is part and parcel of Irish politics and business can be used as the excuse.

atkin

This is Treason ...or does that matter

Voodoo_rasher

" Fianna Fail's Michael McGrath on Vincent Browne defending the bailout of €64 billion saying without it, there would have been economic carnage.

There it is folks, for all those responsible for the rebound in support for fianna fail, that is the pig headed arrogance that put this country in the mess it is in."

Why that weasel should be let participate on VB's show is beyond me.
To think he could be in the next Cabinet turns one's stomach!

What is he but a waste of space Soldier of VILLIANY! Do you see how

the little beady eyes swivel in his face? What area of dunderheads elects him?? Never buy a used motor in that area folks!

AnOrdinaryJoe

Banksters, government, some (not all) politicians, regulators, auditors, even the feckin' rating agencies...... it's a full deck of crooks.

Can you believe anyone in banking in Ireland or the UK.... or anywhere in the world probably ? ?

2nd May 2013 - 'the (UK) government could begin selling off RBS next year 2014, well before the general election in 2015' Sir Philip Hampton, Chairman, Royal Bank of Scotland (parent company of Ulster Bank)

16th June 2013 - 'it could take 10 years for the government to dispose of it's 82% stake in the bank'

So....... which one of these head honchos do you believe..... or could they both be talking out or doing any other magical Anglo style tricks out of their arses ?





21st March 2013 - 'Stephen Hester, chief executive of RBS advised RBS's top 300 executives at the bank's Edinburgh headquarters that he is staying in the job for ''years to come''. He became emotional at the end of the conference'

12th June 2013 - 'RBS chief executive quits with £1.6 million plus pay off (up to £5.6 milllion in total, the 'plus' bit equal to up to £4 million)'

AnOrdinaryJoe

one potato, two potato, three potato, four........

21st March 2013 - 'Stephen Hester, chief executive of RBS advised RBS's top 300 executives at the bank's Edinburgh headquarters that he is staying in the job for ''years to come''. He became emotional at the end of the conference'

12th June 2013 - 'RBS chief executive quits with £1.6 million plus pay off (up to £5.6 milllion in total, the 'plus' bit equal to up to £4 million)'