David Drumm guilty

realitykeeper · 14-06-2018 9:10am

The consequences of what Drumm did will be suffered far more in the next recession than they were in the recession we are coming out of. By then, Drumm will have been given his slap on the wrist and it will be to late for the vengeful to hang, draw and quarter him. As a Christian, I forgive him for the future suffering he will be responsible for.

Politicians were also culpable for the way they ran the country. Perhaps I misread the situation but I was surprised Bertie Ahern was not prosecuted and incarcerated for several decades along with a total confiscation of everything he owns for the way he ran the country. In any case, the next recession will be the one that carries the consequences of all that.

Wanderer78 · 14-06-2018 9:15am

realitykeeper wrote:

The consequences of what Drumm did will be suffered far more in the next recession than they were in the recession we are coming out of. By then, Drumm will have been given his slap on the wrist and it will be to late to hang, draw and quarter him.

Does singling out a person have much of an effect on the workings of a complex system?

benny79 · 14-06-2018 9:17am

Forgive?? I don't know how you could! a lot of good people committed suicide because of his actions and them losing their homes and businesses! but yes he will be given a slap on the wrist and allowed to continue to live the high life!

Zebra3 · 14-06-2018 9:21am

take everything wrote: »

I can't believe I'm saying this but I feel sorry for David Drumm.

I feel he was a scapegoat and a lot of others should be getting jail as well

You feel sorry for a convicted criminal who lied and tried to cover up his wrong doing without any admission of guilt or remorse?

Fck him.

Wanderer78 · 14-06-2018 9:24am

Zebra3 wrote:

You feel sorry for a convicted criminal who lied and tried to cover up his wrong doing without any admission of guilt or remorse?

To be fair, they have a point, this is a lot more complicated than just drumms wrong doings

realitykeeper · 14-06-2018 9:27am

Wanderer78 wrote: »

Does singling out a person have much of an effect on the workings of a complex system?

I edited what you quoted because you are right, Drumm was not the sole cause of the last recession.

Wanderer78 · 14-06-2018 9:29am

realitykeeper wrote:

I edited what you quoted because you are right, Drumm was not the sole cause of the last recession.

Even though it is right that he was found guilty, this goes far deeper than just him, I do fear, we re in serious trouble now

aido79 · 14-06-2018 9:43am

the purple tin wrote: »

Seanie should be sharing a cell with him by rights.

Fitzpatrick or Quinn? Fitzpatrick most likely instructed or at least advised him or what to do even if he wasn't the boss anymore.
The steps Drumm took were a direct consequence of the mess Quinn got himself and Anglo into.

BattleCorp · 14-06-2018 12:56pm

Forgive me if I am wrong here or using the wrong language but isn't Sean Quinn after Anglo/IBRC regarding claims he was pretty much duped?

Does the fact that Drumm and by default Anglo have been convicted of dodgy practices, will that affect Sean Quinn's claim against Anglo/IBRC?

aido79 · 15-06-2018 3:31am

BattleCorp wrote: »

Forgive me if I am wrong here or using the wrong language but isn't Sean Quinn after Anglo/IBRC regarding claims he was pretty much duped?

Does the fact that Drumm and by default Anglo have been convicted of dodgy practices, will that affect Sean Quinn's claim against Anglo/IBRC?

Sean Quinn built up a CFD stake of 28% in Anglo. Fitzpatrick and Drumm knew nothing of this so I can't see how he would have been duped.
Sean Quinn didn't buy shares in Anglo. He basically bet on the share price to rise. When word got out on what he'd done the share price crashed. Anglo's dodgy practices due to Quinn being unable to meet mafmrgin calls on the CFDs were an attempt to stop the share price from crashing. So if you take Quinn out of the equation then it might be a completely different story.
Drumm participated in other dodgy practices such as huge loans to himself but this on its would not have caused Anglo to collapse or had much effect on the average person like the way the collapse of Anglo had.

MillField · 20-06-2018 9:19am

Drumm due to be sentenced this morning. Any guesses for what he might get?

Buford T. Justice XIX · 20-06-2018 10:34am

Mod note: It might be a good idea to leave the speculation alone until the sentence is given.

It can't be long now anyway.

Buford T. Justice

MillField · 20-06-2018 4:25pm

https://www.independent.ie/irish-news/courts/former-anglo-ceo-david-drumm-sentenced-to-six-years-in-prison-37030205.html

Drumm sentenced to 6 years.

CPTM · 20-06-2018 4:27pm

MillField wrote: »

https://www.independent.ie/irish-news/courts/former-anglo-ceo-david-drumm-sentenced-to-six-years-in-prison-37030205.html

Drumm sentenced to 6 years.

Long time coming. The others who were sentenced seem to be walking free despite the number of years they were given. I wonder how long he'll actually be behind bars.

Realt Dearg Sec · 20-06-2018 4:27pm

MillField wrote: »

https://www.independent.ie/irish-news/courts/former-anglo-ceo-david-drumm-sentenced-to-six-years-in-prison-37030205.html

Drumm sentenced to 6 years.

Out in three. Would make you proud to be Irish.

Doctors room ghost · 20-06-2018 4:28pm

MillField wrote: »

https://www.independent.ie/irish-news/courts/former-anglo-ceo-david-drumm-sentenced-to-six-years-in-prison-37030205.html

Drumm sentenced to 6 years.

Straight to the big house with him

Allinall · 20-06-2018 4:29pm

Wait for the....

Less time served.... suspended..... good behavior......He’ll be out in a week ....

El Weirdo · 20-06-2018 4:30pm

Realt Dearg Sec wrote: »

Out in three.

How does that work?

DellyBelly · 20-06-2018 4:31pm

Surprised at the length of the sentence. Was expecting 18 months or community service.hopefully a warning for others.

Now for Patrick Neary, John Hurley and the heads of the main banks in thiose early 2000s to face charges. I'd throw in the auditors as well....

El Weirdo · 20-06-2018 4:34pm

Allinall wrote: »

Wait for the....

Less time served....

Already taken into account.

Allinall wrote: »

suspended.....

No.

Allinall wrote: »

good behavior......He’ll be out in a week ....

Remission of 25% is applied to most custodial sentences in Ireland. 4.5 years, min.

Odyssey 2005 · 20-06-2018 4:34pm

Six years. Small potatoes. Probably be out after 2.5

hatrickpatrick · 20-06-2018 4:35pm

Realt Dearg Sec wrote: »

Out in three. Would make you proud to be Irish.

Out in four and a half unless I'm mistaken, assuming remission for good behaviour?

Taxburden carrier · 20-06-2018 4:35pm

DellyBelly wrote: »

Surprised at the length of the sentence. Was expecting 18 months or community service.hopefully a warning for others.

Now for Patrick Neary, John Hurley and the heads of the main banks in thiose early 2000s to face charges. I'd throw in the auditors as well....

That’s all it is really, a warning. Not what he deserves.
The rest of them must be laughing!

Amirani · 20-06-2018 4:36pm

Odyssey 2005 wrote: »

Six years. Small potatoes. Probably be out after 2.5

Minimum he can serve is 4.5 years (on top of 0.5 already done in US).

Realt Dearg Sec · 20-06-2018 4:37pm

El Weirdo wrote: »

Realt Dearg Sec wrote: »

Out in three.

How does that work?

It's just my guess. If he SERVED six years it might go some way to paying back the amount of human misery he played a huge part in causing. And keeping in mind the lengths to which he went to avoid facing justice at every turn, or to take responsibility for his actions, I think it's remarkably lenient.

PARlance · 20-06-2018 4:39pm

Seems reasonable enough all things considered. It'll be nice to know that he's locked up, even if it's just for 3 or 4 years.

Is there any talk of going after the assets he transferred over to his wife? A lot of them should be considered proceeds of crime.

Realt Dearg Sec · 20-06-2018 4:40pm

hatrickpatrick wrote: »

Realt Dearg Sec wrote: »

Out in three. Would make you proud to be Irish.

Out in four and a half unless I'm mistaken, assuming remission for good behaviour?

Fair enough. I was hoping he'd get more like 8-10.

hatrickpatrick · 20-06-2018 4:40pm

Realt Dearg Sec wrote: »

It's just my guess. If he SERVED six years it might go some way to paying back the amount of human misery he played a huge part in causing. And keeping in mind the lengths to which he went to avoid facing justice at every turn, or to take responsibility for his actions, I think it's remarkably lenient.

Remission in Ireland is a quarter, not half - maybe it's half in the UK or elsewhere, hence the confusion? So if he behaves himself, he can get it down to four and a half, but as far as I know that's the absolute limit as far as reduction in sentence goes.

El Weirdo · 20-06-2018 4:42pm

hatrickpatrick wrote: »

Remission in Ireland is a quarter, not half - maybe it's half in the UK or elsewhere, hence the confusion? So if he behaves himself, he can get it down to four and a half, but as far as I know that's the absolute limit as far as reduction in sentence goes.

AFIAK, he can apply to the Minister for Justice to have it extended to 1/3. Not sure how easy it is or how often an application is granted.

rafatoni · 20-06-2018 4:42pm

Shure didnt we all party....

David Drumm guilty

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