Sean Quinn Jailed

steve9859 · 04-11-2012 09:02PM

SafeSurfer wrote: »

Sure they might employ the viper to evict families from their homes when they're at it.

Sure, we should just let the Quinns steal from the Irish taxpayer so

LLU · 04-11-2012 10:27PM

R P McMurphy wrote: »

There is another issue to be addressed in this and that is that someone broke confidentiality laws and let it be known that Quinn had amassed cdfs of that order. This is what started the short selling. I wonder is anyone being investigated for this and they played a pivotal role in this whole disaster. Surely it should be possible to trace back

Yeah really important. Cos it wouldn't be Ireland if the whistle blower didn't get shafted.

tayto lover · 04-11-2012 10:58PM

steve9859 wrote: »

Sure, we should just let the Quinns steal from the Irish taxpayer so

No time for the Quinns at all but didn't we prop up a private bank and cost the taxpayer billions already. There wasn't the same outrage about that here or in the Govt controlled media.

R P McMurphy · 04-11-2012 11:52PM

LLU wrote: »

Yeah really important. Cos it wouldn't be Ireland if the whistle blower didn't get shafted.

Whistle blower? Someone made substantial sums of money short selling. Was completely illegal

JRant · 05-11-2012 01:21AM

R P McMurphy wrote: »

Whistle blower? Someone made substantial sums of money short selling. Was completely illegal

The game was up at that stage though. The NTMA had stopped any dealings with Anglo long before it went offically bust and had let it be known they thought it was a basket case, Unfortunately nobody cared to listen.

I wasn't aware short selling was illegal here at that time. Was it Sept 2008 that the regulator finally clamped down on this.

Nailz · 05-11-2012 03:22AM

OurLadyofKnock wrote: »

Said a Cavan GAA Official - "it's genocide."

I LOL'd! :pac:

grenache · 05-11-2012 04:32AM

Sean Quinn broke the law. The people who support him display typical traits of cronyism and Irish 'rogueness'.

They're all hypocrites. Every last one of them.

K-9 · 05-11-2012 06:47AM

tayto lover wrote: »

No time for the Quinns at all but didn't we prop up a private bank and cost the taxpayer billions already. There wasn't the same outrage about that here or in the Govt controlled media.

No, there was far more outrage about it. Let's not go overboard with the victim card now.

R P McMurphy · 05-11-2012 07:14AM

JRant wrote: »

The game was up at that stage though. The NTMA had stopped any dealings with Anglo long before it went offically bust and had let it be known they thought it was a basket case, Unfortunately nobody cared to listen.

I wasn't aware short selling was illegal here at that time. Was it Sept 2008 that the regulator finally clamped down on this.

No short selling wasnt illegal at that stage. What was illegal was that someone that knew Quinn had amassed such a volume of cdfs began to short sell. Someone obviously sold the information and triggered the disaster. Whoever that was played a pivotal role in the whole disaster

JRant · 05-11-2012 09:16AM

R P McMurphy wrote: »

No short selling wasnt illegal at that stage. What was illegal was that someone that knew Quinn had amassed such a volume of cdfs began to short sell. Someone obviously sold the information and triggered the disaster. Whoever that was played a pivotal role in the whole disaster

Or they may of got wind of the highly illegal circular loan between Anglo and Irish Nationwide. We can only speculate as to what really happened.
Unfortunately this being Ireland, insider trading is bloody rife. The ISEQ is the old boys club to beat all old boys club.
The real problem was the fact the Quinn left himself wide open by having so much bet on the CFD's. Lets not forget if they had of paid off for him he stood to make an astronomical amount of money.

R P McMurphy · 05-11-2012 10:18AM

JRant wrote: »

Or they may of got wind of the highly illegal circular loan between Anglo and Irish Nationwide. We can only speculate as to what really happened.
Unfortunately this being Ireland, insider trading is bloody rife. The ISEQ is the old boys club to beat all old boys club.
The real problem was the fact the Quinn left himself wide open by having so much bet on the CFD's. Lets not forget if they had of paid off for him he stood to make an astronomical amount of money.

Yeah I take your point and am certainly not making excuses for Quinn. I would like to see who exactly made all the money on the short selling though. There must be someone on the inside that has made an enormous amount of money

Agueroooo · 05-11-2012 10:30AM

Is there anywhere i can read the pros and cons on why he should and shouldnt be jailed?

bodyhead · 05-11-2012 10:35AM

Agueroooo wrote: »

Is there anywhere i can read the pros and cons on why he should and shouldnt be jailed?

Paper ?:D

kunst nugget · 05-11-2012 10:42AM

R P McMurphy wrote: »

No short selling wasnt illegal at that stage. What was illegal was that someone that knew Quinn had amassed such a volume of cdfs began to short sell. Someone obviously sold the information and triggered the disaster. Whoever that was played a pivotal role in the whole disaster

To be fair there were other indicators that Anglo wasn't as rosy as it should be that probably prompted short selling such as the NTMA taking all their money out of the bank. I don't think the mess that we are in can be wholly attributed to investors deciding to short sell some Anglo stock.

ronan45 · 05-11-2012 10:48AM

Wish i could declare myself as bankrupt and live in a mansion :cool::rolleyes:

Curly Judge · 05-11-2012 11:35AM

ronan45 wrote: »

Wish i could declare myself as bankrupt and live in a mansion :cool::rolleyes:

You could, if you had the wit, talent and energy to create a business empire.
Dreaming, wishing and begrudgery won't do it, I'm afraid.

Park Royal · 05-11-2012 11:49AM

Just start by thinking of some product you can ship/slip from the 6 counties

into the Republic and make a good profit on.....

get the lorry drivers to buy their own lorries to start with save on entry

costs...get a few grants from Department of Trade ....

then when you have accumulated a goodly amount of cash, build a hotel

south of the border...where there are few jobs....people will love you for

that....then when the cash is pouring in think of something else to do.....

bringing cigarettes and fuel are popular at the moment for good cross

border profits.....

another good money spinner is amusement arcades ....you will get them

coming from both sides of the border to spend their money, even bus loads

of women from outside the Veritas shop of a Sunday afternoon.;)

tayto lover · 05-11-2012 12:19PM

K-9 wrote: »

No, there was far more outrage about it. Let's not go overboard with the victim card now.

Not going overboard at all but just pointing out the obvious.
They should all be in prison together but then Quinn might not have played golf politicians them or approved their loans.

humanji · 05-11-2012 12:19PM

Curly Judge wrote: »

You could, if you had the wit, talent and energy to create a business empire.
Dreaming, wishing and begrudgery won't do it, I'm afraid.

Also, being honest will definitely hold you back.

Maacgyver · 05-11-2012 12:55PM

This is my last post on this thread anyone with doubts as to whether Sean Quinn is guilty of malpractice and theft from the state needs to read this. http://www.bbc.co.uk/news/uk-northern-ireland-19063419 . As for his supporters all they are doing is making Ireland a laughing stock abroad and discouraging any multinationals from ever investing in their area. Tractor roadblocks and roaring cretins do not attract the Microsofts and Intels of this world!

kunst nugget · 05-11-2012 01:13PM

Maacgyver wrote: »

This is my last post on this thread anyone with doubts as to whether Sean Quinn is guilty of malpractice and theft from the state needs to read this. http://www.bbc.co.uk/news/uk-northern-ireland-19063419 . As for his supporters all they are doing is making Ireland a laughing stock abroad and discouraging any multinationals from ever investing in their area. Tractor roadblocks and roaring cretins do not attract the Microsofts and Intels of this world!

I have posted it twice already. Sadly it has made no difference.

Anyone who doesn't support the mighty Quinn, the Irish Icarus who flew too close to the sun and found out it was a nuclear reaction brought about by Anglo splitting the atoms of politicians greed, is obviously a begrudger.

You know, this hyperbolic hysteria is quite easy to write...

JRant · 05-11-2012 01:37PM

R P McMurphy wrote: »

Yeah I take your point and am certainly not making excuses for Quinn. I would like to see who exactly made all the money on the short selling though. There must be someone on the inside that has made an enormous amount of money

There should be a record of all transactions dealing with Anglo share sales as far as I know. Wouldn't take to much digging around to find out the details.
Still regardless of these details if it was just a case of buying and selling shares Quinn would not have been in as much trouble. He decided to circumnavigate all this, instead going for the much risker CFD's. He wanted the massive payout from them and even tried to illegally manipulate the share price to achieve this.

SafeSurfer · 05-11-2012 03:35PM

Maacgyver wrote: »

This is my last post on this thread anyone with doubts as to whether Sean Quinn is guilty of malpractice and theft from the state needs to read this. http://www.bbc.co.uk/news/uk-northern-ireland-19063419 . As for his supporters all they are doing is making Ireland a laughing stock abroad and discouraging any multinationals from ever investing in their area. Tractor roadblocks and roaring cretins do not attract the Microsofts and Intels of this world!

Thats very true. Low corporation tax and weak regulation and the ability to dictate to our elected government is what attracts the multinationals to this fair shore.

http://www.irishexaminer.com/business/apple-pays-2-tax-on-overseas-profit-212914.html

kunst nugget · 05-11-2012 04:20PM

SafeSurfer wrote: »

http://www.irishexaminer.com/business/apple-pays-2-tax-on-overseas-profit-212914.html

I actually fail to see what this has to do with Sean Quinn. While the actions of Apple could be seen as morally dubious in the pursuit of profit, have they committed any fraud or broken any regulations? Sean Quinn has repeatedly done both.

Just like I'm no great fan of U2 proclaiming their pride for being Irish whilst moving their operations to Holland to avoid pay tax to the state, they haven't broken any laws doing it. Quinn has and continues to break the law by his act of contempt.

JRant · 05-11-2012 04:26PM

SafeSurfer wrote: »

Thats very true. Low corporation tax and weak regulation and the ability to dictate to our elected government is what attracts the multinationals to this fair shore.

http://www.irishexaminer.com/business/apple-pays-2-tax-on-overseas-profit-212914.html

Did the Quinn group avail of these policies as well?
It still has no bearing on the contempt of court though.

Curly Judge · 05-11-2012 08:22PM

kunst nugget wrote: »

I have posted it twice already. Sadly it has made no difference.

Anyone who doesn't support the mighty Quinn, the Irish Icarus who flew too close to the sun and found out it was a nuclear reaction brought about by Anglo splitting the atoms of politicians greed, is obviously a begrudger.

You know, this hyperbolic hysteria is quite easy to write...

The way you write it ...yes:)

squod · 05-11-2012 08:46PM

SafeSurfer wrote: »

Thats very true. Low corporation tax and weak regulation and the ability to dictate to our elected government is what attracts the multinationals to this fair shore.

http://www.irishexaminer.com/business/apple-pays-2-tax-on-overseas-profit-212914.html

Thought it was the cheap migrant workforce. Could be wrong.

Curly Judge · 06-11-2012 10:03AM

squod wrote: »

Thought it was the cheap migrant workforce. Could be wrong.

When all is said and done, would the people of this state - and the one to the north of it - have been better served if the famous 7 year deal offered to Anglo had been accepted and worked on.
Did the new regulator sweep a little too clean.

kunst nugget · 06-11-2012 10:43AM

Curly Judge wrote: »

When all is said and done, would the people of this state - and the on to the north of it - have been better served if the famous 7 year deal offered to Anglo had been accepted and worked on.
Did the new regulator sweep a little too clean.

Tbh, this is just getting retarded at this stage. The infamous 7 year deal was based on Quinn retaining ownership of Quinn Insurance. You know, the company whose practices were so shoddy that the Irish taxpayer has been left with a 2% levy on nearly all insurance policies to pay off the estimate €1.6 billion that will need to pump into it to guarantee insurance claims. There was absolutely no way they were going to be able to pay back the debt they incurred.

Curly Judge · 06-11-2012 11:24AM

kunst nugget wrote: »

Tbh, this is just getting retarded at this stage. The infamous 7 year deal was based on Quinn retaining ownership of Quinn Insurance. You know, the company whose practices were so shoddy that the Irish taxpayer has been left with a 2% levy on nearly all insurance policies to pay off the estimate €1.6 billion that will need to pump into it to guarantee insurance claims. There was absolutely no way they were going to be able to pay back the debt they incurred.

I am reminded of the old chestnut about the difference between an engineer and a good engineer.
Any engineer can build a bridge that won't fall down but it takes a good engineer to build a bridge that just won't fall down.
I would be among the first to admit that Sean Quinn would not have been an easy horse to ride if he had been brought under the stewardship of the Financial Regulator.Most thoroughbreds tend to be foisty!
Perhaps the experience of a man who was in a senior position in Northern Rock prior to it's bailout and who has "never taken a professional exam in his life", was not sufficiently nuanced to deal with the complexity of the Quinn situation.
It doesen't take a great brain to sweep the baby out with the bathwater.
My grandaughter could do that and she is just starting her first year in home economics.
Sorry if I appear to be a retard!

Sean Quinn Jailed

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