Anglo Tapes

Thankfully this is yet another of those cases where nobody was at fault and nobody in any political party actually knew anything at all about it.
So move along electorate, and remember to vote for FF or FG again next time as usual. Thanks!

Lbeard wrote: »

The Anglo guys were morons. They knew the calls were recorded. If they were that thick, wait'll we see the emails.

And the FF/FG boys are any better?
"Give us 7 billion" and they do it off the back of a phone call?
TBH anyone who thinks these millionaires who have ripped off and wrecked Ireland are merely inept and not just straight up thieves is being pretty generous to the cnuts.

As if the DPP will actually prosecute anyone over this. They have consistently been the champion of the established elite and they're not going to change now. Backed up by a police force that flat out refuses to investigate any criminality not involving lads in tracksuits, we can all see what'll happens from here clear enough can't we?
Media silenced and the colossal fraud can get back in motion.

Scortho wrote: »

I find more interesting that drumm who is one of the most hated men in Ireland, had put a plan in place for a bond buy back.

Yeah, and I have a plan to grow wings and fly around like a fairy.

They were very literally doomed several years before the crash. The idiotic fly by the seat of your pants, as if it's a rugby match, doesn't work with a large financial institution.

There was no saving the bank.

And something very similar happened with Lehmann Brothers. The management had screwed the bank, building an overpriced property portfolio. They were doomed for years regardless of their exposure to dodgy mortgage derivatives.

Dick Fuld, the eejit behind Lehmann's, he believed, and others in the bank believed it could be saved right up to a few hours after Fuld was forced to step down. When the new management were piecing together the portfolio, Fuld was still in his office, every so many minutes they'd go in to him to ask him to explain major deals. Fuld had given the go ahead for these deals, they were all his "strategy", but he didn't have a clue about the details. His "strategy" was to just do big deals for the sake of doing big deals - like a gambler who believes they have an infinite supply of cash, running around a casino laying heavy bets on all the tables. Snuff at a wedding style.

Fuld's management technique was also very similar to your typical thick and sneaky Irish manager (aw we know these traditional Irish fellas well). They don't have a clue what's happening, and they keep everyone else in the dark to maintain their power - if anyone is a threat (ie clever) get them sacked. Lehmanns employed a lot of very bright people. Parts of the operation were running very well, but Fuld managed to keep everyone in the dark as to the true exposure (a major part of his tactic being not having a clue himself) - Fuld was a brutally incompetent psychopath, who creamed the profits of the work of better people for himself (Like Seanie Fitzpatrick).

But back to Anglo and the plan........Like Lehmann Brothers, they were doomed for years. All Drummer had left was the same faffing about with the American central bank (the Fed) and the American government as Fuld.

The difference between Lehmanns and Anglo is the Americans let Lehmanns go under. It's arguable whether this was a good idea or not, as it caused a massive financial shockwave. At the same time it might be arguable that the entire banking system is diseased and infected with a class of toxic parasite we could all be better without.

Our best option would have been to force the European Central Bank to take Anglo, (spread the pain), and not the Irish Central Bank (another operation of useless traditional Irish paddy whacks).

This is what Merkle meant by saying the ESF couldn't retroactively resolve the Anglo situation. Had Drummer and the boys not been so dishonest and our "leaders" not so thick, then the ECB would have had to act as the FED. Instead we have a situation, where the Bank of Delaware (that's us) has had to bailout the entire continent.

And while Drummer and the boys are still living the high life, we have mentally disabled people sleeping on the streets, people committing suicide over debts and job losses, the majority of the country are suffering - and for years. IT'S A BLOODY NIGHTMARE. And I don't think we'll have closure until Drummer's wind pipe is closed - permanently

And Drummer and the boys are just laughing at us.