Anglo About to Lose 1x Infrastructure Budget

Sponge Bob · 18-03-2010 11:34AM #1

Just so yiz know. Anglo Irish are about to report a loss of c.€14bn in the next few days. What is a billion here and there with Seanie and the lads

€14bn is the ENTIRE Road and Rail Capital budget since 1994 or 1995

Anglo is of far more importance to FF than capital expenditure, just so you know.

As for the €14bn they lost much of it years ago and simply hid it on the books ....or else got the Permo to make it up overnight as we know.

Chris_5339762 · 18-03-2010 12:29PM

I love the way they mildly refer to it as a ROGUE BANK. If I was in charge I'd be in Anglo Irish with a lot of police, tear the place to absolute shreds looking for evidence and arrest one hell of a lot of people.

But no, the Gov here will probably try to prop them up again.

dowlingm · 18-03-2010 12:38PM

More good money after bad. Anglo Irish was Ireland's Lehmans - they should have been shut down and the depositors refunded - it would have cost the State less. Unfortunately, Ireland doesn't have an FDIC to go in on a weekend and clean house and it's starting to become clear that the difference between AIB/BOI and Anglo was just one of degree.

Zoney · 18-03-2010 12:53PM

Why are one in four voters still pretending they don't know who has been responsible for the State in all this time, including allowing the situation at Anglo and insisting we all pay for it?

I can understand the actions of those in power, despite finding them abhorrent, but the actions of these ordinary voters?

CerebralCortex · 18-03-2010 01:42PM

Zoney wrote: »

Why are one in four voters still pretending they don't know who has been responsible for the State in all this time, including allowing the situation at Anglo and insisting we all pay for it?

I can understand the actions of those in power, despite finding them abhorrent, but the actions of these ordinary voters?

We're ruled by the average and man oh man they're stupid.

Roryhy · 18-03-2010 02:19PM

Sean FitzPatrick held in Anglo fraud inquiry

[URL="javascript:showPlayer('bray_av.html')"] [/URL][URL="javascript:showPlayer('bray_av.html')"][/URL]Thursday, 18 March 2010 14:10
Former Chairman and Chief Executive of Anglo Irish Bank Sean FitzPatrick has been arrested by members of the Garda Bureau of Fraud Investigation.
Mr FitzPatrick was arrested at his home in Greystones at 6.30am.
Gardaí also searched Mr FitzPatrick's home.
Advertisement

He is being detained under Section 4 of the Criminal Justice Act.
Under the legislation, gardaí were initially able to hold Mr FitzPatrick for six hours.
That period of detention has since been extended by a further six hours and can be extended by a further 12 hours on the word of a Chief Superintendent.

Mr Fitzpatrick stepped down as Chairman of Anglo Irish Bank in December 2008.

Minister for Finance Brian Lenihan has responded to the development by saying: 'I have always stated there is an extensive Garda investigation under way.
'I have been cautious not to prejudice that investigation and am eager to see justice take its course.'
There are multiple probes continuing into activities of Anglo Irish Bank.
These are being conducted by the Financial Regulator, the Garda Bureau of Fraud Investigation and the Office of Director of Corporate Enforcement.

Story from RTÉ News:
http://www.rte.ie/news/2010/0318/bray.html

Sponge Bob · 18-03-2010 02:25PM

That arrest is a small sideshow. What they are doing is formally writing off THIS LOT of €7.5bn and then another €6.5bn on top of it.

Godge · 18-03-2010 09:54PM

And do you really think people will remember the mess FF have made? Not a chance, they will still get over 30% at the next election. The Irish electorate has too many fools.

Tech3 · 19-03-2010 08:36AM

This belongs to the politics forum

Anglo About to Lose 1x Infrastructure Budget

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