Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/

Bob Diamond

  • 04-07-2012 11:26PM
    #1
    femur61
    Registered Users, Registered Users 2 Posts: 1,588 ✭✭✭


    Now I'm sure where to post this but it does have realevance to the Irish economy. Bob Diamond resigned two days ago. Today he was in the House of Commons being grilled about the LIBOR situation. Why do you think Seanie, or any one that was directly or indirectly involved in the banking collapse e.g Bertie has been brought to question?

    Will we have another tribunal that will last 13 years and how many millions? Will no one be brought to account to the situation our economy is in. We nearly have 15% unemployment. That figure doesn't tell the true picture, my husband and many like him aren't registered because they are self employed.

    Will anyone be brought to account?


Comments

  • #2
    mike65
    Closed Accounts Posts: 88,968 ✭✭✭✭mike65


    Bob Diamond could be jailed and be out again before anyone here is arrested!

    You hear the occasional comment about how the Fraud Squad in Harcourt Street are investigating but I'm fully expecting them to get nowhere ultimately. The powers they work under are woeful - if Seanie and co were making dodgy diesel they'd be in far greater danger of doing time.


  • #3
    jank
    Banned (with Prison Access) Posts: 13,016 ✭✭✭✭jank


    Yes, it is something I can never understand about Ireland. How can the UK with pretty much the same set of laws as us be able to carry out inquiries like this and many others (Iraq, News of the world,.etc..) in a matter of weeks while the Irish system takes years and years to even start the bloody thing? Its a real bug bear of mine.


  • #4
    two wheels good
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭two wheels good


    The inquiries in the UK give the appearance of a vigorous response. Anyone watching Diamond's performance yesterday couldn't help feeling he was successfully dodging the questions.
    In the UK there have been a few resignations, some bonuses declined and banking reform has been put on the long finger - possibly expected 2018. In effect nothing has really changed.

    I'm not claiming they are a waste of time\effort\money. They at least give the public - in UK or in Ireland with the Mahon Tribunal - a chance to see how corruption operates.

    The Leveson Inquiry (phone hacking ) may prove to bring about more change though


  • #5
    murphaph
    Registered Users, Registered Users 2 Posts: 19,039 ✭✭✭✭murphaph


    femur61 wrote: »
    Now I'm sure where to post this but it does have realevance to the Irish economy. Bob Diamond resigned two days ago. Today he was in the House of Commons being grilled about the LIBOR situation. Why do you think Seanie, or any one that was directly or indirectly involved in the banking collapse e.g Bertie has been brought to question?
    Did we not have a referendum which would have allowed the Oireachtais greater powers of enquiry (akin to Westminster) which was rejected?

    It may not have been perfect, but IMO it would have been a step in the right direction. If we don't have such commitees the we are left with tribunals of enquiry or the courts system.


  • #6
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    femur61 wrote: »
    Now I'm sure where to post this but it does have realevance to the Irish economy. Bob Diamond resigned two days ago. Today he was in the House of Commons being grilled about the LIBOR situation. Why do you think Seanie, or any one that was directly or indirectly involved in the banking collapse e.g Bertie has been brought to question?

    The difference between the LIBOR situation and what happened in Ireland appears to be that the LIBOR fixing was an active conspiracy to rig prices across the industry. What happened here seems to be individual banks mucking up to a greater or lesser degree, but not apparently conspiring. The only exception I can think of was the inter bank deposits between IL&P and Anglo just before their accounts closed to put a healthy gloss on the numbers and the parking of the Anglo directors loans (I think with Irish Nationwide).

    Keeping the LIBOR rate so low is in part what allowed Anglo to stay on its borrowing binge long past when it should have had to stop.


  • Advertisement
  • #7
    KyussBishop
    Closed Accounts Posts: 5,797 ✭✭✭KyussBishop


    murphaph wrote: »
    Did we not have a referendum which would have allowed the Oireachtais greater powers of enquiry (akin to Westminster) which was rejected?

    It may not have been perfect, but IMO it would have been a step in the right direction. If we don't have such commitees the we are left with tribunals of enquiry or the courts system.
    Indeed; by all accounts, this should have passed, but because so little time was made available for public debate and publicizing between it being written up, and the referendum itself, it failed (by a small margin):
    https://en.wikipedia.org/wiki/Thirtieth_Amendment_of_the_Constitution_Bill_2011_%28Ireland%29


  • #8
    Chucky the tree
    Closed Accounts Posts: 19,341 ✭✭✭✭Chucky the tree


    femur61 wrote: »
    Now I'm sure where to post this but it does have realevance to the Irish economy. Bob Diamond resigned two days ago. Today he was in the House of Commons being grilled about the LIBOR situation. Why do you think Seanie, or any one that was directly or indirectly involved in the banking collapse e.g Bertie has been brought to question?

    Will we have another tribunal that will last 13 years and how many millions? Will no one be brought to account to the situation our economy is in. We nearly have 15% unemployment. That figure doesn't tell the true picture, my husband and many like him aren't registered because they are self employed.

    Will anyone be brought to account?


    Why would Bertie be brought to question? All he did was follow through on give away budgets which he and Fianna Fail promised to do in their election manifestos. Bit rich having a whinge about Bertie when people where perfectly happy to vote him and FF into power.


Advertisement