According to Newstalk, a statement issued by IL+P strongly hints that the above transaction was approved by the central bank and regulator before it happened.
Statement - http://www.newstalk.ie/Irishlife.pdf
It was said that they were responding to a call "To wear the green jersey and move the money to Anglo following a call from the regulator". So, it was a partiotic act?
So, as I have asked before, did this plan originate in government buildings on the night of the guarantee?
Last edited by Digout; 13th February 2009 at 07:18 AM.
Wouldn't surprise me in the slightest.Originally Posted by Digout
Given who owns most of the debt and how beholden FF are to them, is it any surprise that the Government would permit such a transaction?
'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'
Inigo Montoya.
If this is true, the government will fall.
I don't know. It would take a whole lot.
When buying and selling are controlled by legislation, the first things to be bought and sold are legislators
What are the legal ramifications of this? I was under the impression that despite the optics being extensibly bad there is nothing technically illegal about the deposit or its approval.
'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'
Inigo Montoya.
Seeing as the money was moved hours after the guarantee was annouced the only way it could have happened is if it was agreed in government buildings.
Fek the legal ramifications - What are the implications for Ireland's international banking reputation? All Irish government debt would be seen as toxic.
If it was even 1 % true . . . a certain former regulator will find it really difficult to spend 160k pa from a jail cell.
the execs that resigned should be in Garda custody RIGHT NOW ! .... So should Fitzpatrick.
Banana Republic is a compliment !
My nearest neighbor is 40,075.16 kilometers away
*************************************
Welcome To Ireland
Steal a little and - We'll put you in Jail
Steal a lot and - You'll get a payoff and pension.
From the statement
It was noted that the Financial Regulator had communicated to the Non
Executive Directors of the Board in person last May that it was a policy
objective of both the Central Bank and the Financial Regulator that Irish
financial institutions would work to support each other in the face of an
unprecedented threat to the stability of the Irish financial system arising from
the international credit crisis.
Its simply not credible that this was not discussed during the formulation of the guarantee scheme.
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