Alan Dukes - Public Interest Director Should resign

[Touché]

Listening to Dukes spinning, will have figures for potential losses in two weeks, it's reafirms that goverment just wasted 2 whole years.

[Asparagus]

Actually no, he's spoken about it at length as recently as 2 weeks ago. He reduced the salary as he was in receipt of the pensions. FWIW I do think he's sticking it out in an effort to serve the country. Someone has to do the job, I don't think anyone's suggesting he's doing a bad one really. As chairman, the decision yesterday doesn't say so much about him so much as it does Aynsley.

He really does have a decision to make, if he stays on it really is just in a babysitting role for the money. Couldn't blame him for walking away.

I would blame him for staying on given that it is not in the public's interest to pay for a public interest director that has no power and is in effect solely drawing down a public salary.

I would say that to do a good job you would need to sacrifice yourself for the greater good. How would the greens feel if he walked - didn't they insist on an PI Director?

[Malbekh]

I find this very unfair. I presume that with all the other irons he has in the fire, Duksie needed the job at Anglo like a hole in the head.
I, naively perhaps, think he took it on to be of some service to the people of Ireland. Undoubtedly there was an element of ego involved, and perhaps the huge challenge Anglo presented, also attracted him. He was not immune to the Stockholm Syndrome however and that was his biggest weakness.
To suggest that he was corrupt, semi corrupt or now damaged gods is carrying the uber cynicism in this country a bit far.
If we are to assume that all politicians are corrupt then it must follow that the whole country is corrupt also.

I never suggested that Dukes was corrupt, and I don't think anyone else is. What I'm definitely saying is that he has been made look a total fool and used as a crap deflector by this government, and has been paid a pretty penny for his troubles.

Let me give an example. Dukes insists that when they went into the marketplace and paid 30c on the subordinated bonds they ended up making a profit of €1.4b.

This is utter thrash. The subordinated bonds by and large do not have to be paid back until 2014. They are utter garbage that the bank can effectively either write off or pay 2c in the Euro for.

Dukes says 'we made a profit of €1.4b' we say 'you threw €750m of our money down the Anglo hole like so much good money after bad'

[EvotingMachine0197]

Heard Peter Matthews earlier he was excellent, it will be 36 thousand million, but Dukes cant put a figure on it yet. If Dukes had any self respect he would just go !

Dukes and the Gov. are using the line that anyone who says they know the cost of Anglo is merely taking a punt to discredit any reasonably infromed opinion on the final cost such as those from Matthews, S&P etc.

Dukes and Co. have had 2 Years to look at the books. There shouldn't be any need for anyone to be taking a punt at this stage ..

[Malbekh]

That what I have the problem with.

Lenihan said on newstalk
a) that we absolutely wont need to go to the EU bailout €750bn fund
b) that we can pay it ourselves.

when asked how much anglo would cost, and stop the drip, drip, drip feed that was killing any confidence, he said
c) he doesn't know, thats whats they are figuring out (21 months on...)

How a & b are remotely consistent with c is beyond me.

He's saying, I don't know how much anglo will cost, but I know we won't need to go to the EU.. wtf???

He can't say with certainty that we won't end up drawing down on the EU/IMF funding because he doesn't control the bond markets. The bond markets will decide if we need to go or not. Their job is to maximise the yield on our bonds without sending us running to the EU. However, if they get it wrong and we do, they know they're guaranteed getting their money back.

Win/Win International bond markets
Lose/Lose RoI

Go figure

[Asparagus]

Dukes and the Gov. are using the line that anyone who says they know the cost of Anglo is merely taking a punt to discredit any reasonably infromed opinion on the final cost such as those from Matthews, S&P etc.

Dukes and Co. have had 2 Years to look at the books. There shouldn't be any need for anyone to be taking a punt at this stage ..

2 years of non performing loans rolling up interest
2 years of missed opportunities
2 years of no prosecution
no resolutions

Anglo's books must be like ulysses - Dukesy and Ansley keep meaning to read them but can't really get stuck in

David Norris should be the PI Director - he'd have the solution to music by now..

[Expatriot]

I am almost insane in my opposition to the way the "bank thing" has been handled but I do not agree that Dukes should resign. He has a legal framework within that post and it is restrictive. He is a "policy taker". He is not a politician. I can think of a alot worse to have in there, if he resigned it would only make things worse. It comes down to trust because he cannot really tell us what he really thinks, I would tend to trust him more than most. What is in it for him really, it must be a public service thing.

Dont get me wrong, he annoyed me the way he answered questions from Shane Ross etc and I cannot make head nor tail out of much of his interviews. But would we really be better off without him?

[ballot stuffer]

He turned from public interest to vested interest very quickly.

[Asparagus]

I am almost insane in my opposition to the way the "bank thing" has been handled but I do not agree that Dukes should resign. He has a legal framework within that post and it is restrictive. He is a "policy taker". He is not a politician. I can think of a alot worse to have in there, if he resigned it would only make things worse. It comes down to trust because he cannot really tell us what he really thinks, I would tend to trust him more than most. What is in it for him really, it must be a public service thing.

Dont get me wrong, he annoyed me the way he answered questions from Shane Ross etc and I cannot make head nor tail out of much of his interviews. But would we really be better off without him?

But hes saying that the govrnments solution is not in the best public interest - if he stays he hitches himself to that decision.
I think its better for Alan to walk the plank as a demonstration of how the government is working against the public's best interest.

Theres no point trying to stay on and influence the ship as it heads towards the iceberg - it is clear that he has no influence and staying on board only endorses a decision he does not subscribe to.

Evil prospers when good men do nothing and even faster when good men do nothing but collect salaries that they do not deserve.

[Expatriot]

But hes saying that the govrnments solution is not in the best public interest - if he stays he hitches himself to that decision.
I think its better for Alan to walk the plank as a demonstration of how the government is working against the public's best interest.

Theres no point trying to stay on and influence the ship as it heads towards the iceberg - it is clear that he has no influence and staying on board only endorses a decision he does not subscribe to.

Evil prospers when good men do nothing and even faster when good men do nothing but collect salaries that they do not deserve.

Well I think only he can judge whether that would be in the national interest. Without all the info(and we have virtually none) we cannot say. So its a trust thing. I give him the benefit of the doubt. Probably foolish of me, but there you go.