Poor auld Seanie, may he Rest in Peace.
You would think it was Larry Murphy that died not Seanie by the replies in this thread. Jesus, grow up will ye and stop celebrating a mans death. As if half of ye wouldn't have done the same.
Cant recall bringing a bank down myself.
that 50 bn would have ballooned with or without anglo. to be fair not to the same degree but ballooned none the less. 10 years later its gone up if anything else. I don't recall hearing of any effort to bring it down in spite of all the money NAMA has sent to exchequer as a result of profits made since it was created as a result of the property crash.
We've all suffered without a doubt but Seanie whilst not innocent by any means was very very far from being the only actor in the whole saga.
Good fu**ing riddance, rot in hell.
Nice to go somewhere warm before winter sets in.
Did you get a chance to?
Are you accusing me of being a lickspittle and an sycophant because i don't want to engage in trashing the man (again) as his family prepare to bury their husband father grandfather. I've had plenty to say about the crash, the bankers the regulators etc. I don't think now is the time.
such a simplistic attitude. Sad that so many people believe the aggravated guff that comes from some gutter politicians that btake a singular negative view of anything and everything.
Virtually the entire world had a financial crash.
Up to about 2005 Sean Fitzpatrick was lauded and on a pedestal similar to Michael O'Leary. He sourced finance from around the world that gave massive growth to this country. But from 2006 he and many others saw dark clouds, but certainly do=id not expect the storm that was about to hit (started at Lehmans in the US).
Like many business CEOs that face turbulence, he played with the rules and regulations hoping the storm would pass. But once Lehman went, time was up but he continued and tried to put up a positive front.
I lost about €20k in shares I had in anglo - but those shares cost me about €5k and I had cashed some out in 2004 to put towards a house..
If I was negative like the ultra negative posters there that don't look past 12-18months of someone's life, I'd be whining about the €20k I lost in 2008. But then why should I ignore the fact that they cost me €5k and that I had made a gain of almost €30k in 2004.
I'm not defending what he did in the 18 months before the collapse, but prior to that, he created a banking force from scratch.
Whatever you think yourself.
Never ceases to amaze the sorts that come out of the woodwork to defend the indefensible and lick big business arse.
the entire court case for denis casey - that evidence was never denied.
as an political analyst i'm sure you are aware of that case.
he may have created it, but he also allowed it, maybe even encouraged immoral and unethical behaviors within it, which played a major part in the crash, banks can no longer be trusted....
was probably already posted here, but worth posting again...
https://waterfordwhispersnews.com/2021/11/09/reason-your-children-are-saddled-with-debt-passes-away-aged-73/
So because you made some money, we should ignore all the people who lost their homes and were drove to suicide … and the resulting taxes that everyone’s being paying since as a result of the financial mess he helped create… sad selfish way to look at things ….
the man has a wife and three children, people should take this into consideration when posting
How much debt are we saddled with currently due to Anglo?
hard to say exactly, but a lot
Of all the characters around the financial collapse he seems to have been one of the most flash, and he'll always stick in our minds. No lack of self belief.
Of course a lot of what he did in business was reprehensible, there's no question about that, but it was bad regulation and a terrible government that floored the country.
He wasn't responsible for you borrowing to buy 5 apartments in Bulgaria........you were.
anglo and co were encouraging a credit fueled boom, were using their positions to influence these outcomes, including politically, which included encouraging deregulation of financial markets, and the rest is history....
we were encouraged to do so by many entities in society, including state and government entities......
I see the condolences option on his death on rip.ie is not active, its strange seeing as all condolences are moderated ahead of getting displayed I thought.
You’d probably need to employ someone full time to moderate the comments and I doubt RIP have the staff (or money) to do that.
if this thread is anything to go by...
Looks like around 34 billion. Not sure how much we are paying back in interest at the moment, but probably small enough, given that borrowing for Covid is "free money".
again a very simplistic attitude.
Anglo was part of the machine. It was certainly not the creation of the worldwide financial collapse and cannot be directly held responsible for tragedy. Remember EVERY bank in Ireland and the UK threw money at people. If you want to really look for a scapegoat, it was Bank of Scotland that introduced trackers and 100% finance and the Central bank allowed for up to 8 times salary and also allowed "income from renting a room" to be taken into account. That created MASSIVE demand for housing at wild inflated prices and Anglo lent to every developer with a sliver of land as it was a slam dunk profit all round and no chance of losing - until Lehman collapsed and banks stopped lending to consumers and developers who borrowed millions suddenly had no buyers.
Anglo just put too many of their eggs into the construction/property basket and with the world construction and property market collapsing, Anglo had no chance.
Sean Fitz should have accepted that instead of trying to cover up the extent of the losses
The 20 billion hole in the budget that resulted in the "austerity" decade was hardly entirely the fault of Anglo either (Yes a portion of it was due to interest payments on the debt caused from Anglo)
I'd say they were flat out moderating and if it was taken down you can imagine the negativity that was coming in. I notice one did slip through the net from a 'Bartholomew Ahern'
LOL - you really risked the card there with that rant 🤣
We are forever in his debt.
So what?
The Kinahans, Hutches, etc etc have wives and children but I don't weep for them when some scumbag suffers acute lead poisoning, why should I?
There's probably drug dealers out there with more morals than Sean Fitzpatrick had.
This "let's not speak ill of the dead" crap sickens me. It seems to be ingrained in some people that "scandal" must be hushed up at all costs. Libel laws protect them when they're alive, stupid people want them protected when they're dead, too. "Catholic Ireland's" way of thinking lives on.
Who benefits from this refusal to expose the truth about anything? Not you and not me, that's for sure.
nothing about covering up, reread and maybe consider there are family members who have the ability to read this
Rubbish except for the last sentence.
Anglo's totally reckless lending and the massive short-term profits it produced is what forced the other banks to also start lending irresponsibly to compete. Anyone old enough to have looked for a loan pre-Celtic Tiger knows how ridiculously conservative the main Irish banks were and always had been.
Bank of Scotland wouldn't have entered the Irish market had it not been for the massive apparent profits Anglo was making, of course they wanted a piece of that pie.
You admit at the end that he committed massive fraud, yet still try to paint him as a victim not a perpetrator.
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