Anglo offices raided, Sean Fitzpatrick arrested over financial irregularities

[toughbutfair]

Schadenfreude anyone?

NO

Schadenfreude is generally used for taking pleasure in the suffering of other innocent people like the people in negative equity, many such people here with their "I was too smart to buy a house" boasts.

This is justice. We want him to suffer and lose every cent and go to jail. Totally different.

[borntorum]

NO

Schadenfreude is generally used for taking pleasure in the suffering of other innocent people like the people in negative equity, many such people here with their "I was too smart to buy a house" boasts.

This is justice. We want him to suffer and lose every cent and go to jail. Totally different.

Oh FFS. Is the notion of 'innocent until proven guilty' totally beyond your comprehension?

[collina]

Schadenfreude anyone?

Absolutely. Utter glee in my office this morning.

[constitutionus]

Do we have the trial of the century to look forward to?

depends what he's charged with.

i personally believe there enough evidence to convict anglo of stockmarket manipulation , deception, fraud and false accounting.

but who is "anglo"

the board ? the poor sap of an undreling stupid enough to put his name on the documetation but didnt benefit from it or initiate and sanction the transaction ?

deciding who actually is responsible for the crimes involved here is new territory for our office of corporate enforcement and fraud squad as up to now lads like this were untouchable.

[seabhcan]

depends what he's charged with.

i personally believe there enough evidence to convict anglo of stockmarket manipulation , deception, fraud and false accounting.

but who is "anglo"

the board ? the poor sap of an undreling stupid enough to put his name on the documetation but didnt benefit from it or initiate and sanction the transaction ?

deciding who actually is responsible for the crimes involved here is new territory for our office of corporate enforcement and fraud squad as up to now lads like this were untouchable.

Given the arrest of fitz, it would seem that they are focusing on his personal misdoings. Probably those secret director loans, etc. They might not charge for Anglo mismanagement.

My understanding is that directors can be held accountable if they act outside the powers granted to them by the articles and memorandum of association of the company.

[constitutionus]

Given the arrest of fitz, it would seem that they are focusing on his personal misdoings. Probably those secret director loans, etc. They might not charge for Anglo mismanagement.

My understanding is that directors can be held accountable if they act outside the powers granted to them by the articles and memorandum of association of the company.

thats my feeling too.

its the al capone effect . tax evasion was the least of his crimes but the only thing they could collar him on.

those personal loans that were hidden on th books look to be the focus to me too. the loans for shares may be a factor too if he signed off on that.

[Aindriu]

thats my feeling too.

its the al capone effect . tax evasion was the least of his crimes but the only thing they could collar him on.

those personal loans that were hidden on th books look to be the focus to me too. the loans for shares may be a factor too if he signed off on that.

At least Capone got a long time in jail - Alcatraz to boot. My guess is that Seanie won't even ge time.

[constitutionus]

discussing the backround on this on eamon keanes show on newstalk now.

(eamon not on though )

[NAMAwinelake]

Has he been released yet?

[il toro]

[FONT=Arial][SIZE=3]That’s fair enough, I don’t think FF or anyone else can be directly held responsible for any banks actions. Banks manage themselves and make their own decisions.[/SIZE][/FONT]

[FONT=Arial][SIZE=3]However , the conduct of our banks was allowed to go unchecked for years. This was where the economic and financial services regulation by the Central Bank and the Financial Regulator has been shown in hindsight to be utterly failed.[/SIZE][/FONT]

[FONT=Arial][SIZE=3]Given that a booming economy is of massive electoral benefit to an incumbent Government, the question is, was the CB and FinReg encouraged or even leaned on to take a light-hearted approach by the FF Governments from say 2002 ?[/SIZE][/FONT]

[FONT=Arial][SIZE=3]Was the complacency in Regulation intentional ?[/SIZE][/FONT]

[FONT=Arial][SIZE=3]As this question can probably never be proved one way or the other, it will be up to the electorate to decide for themselves.[/SIZE][/FONT]
[FONT=Arial][SIZE=3]
[/SIZE][/FONT]

You are correct I dont believe that it was intensional , or that FF pushed the regulator to be light , i just think they were lazy in their job. We have plenty of evidence that the civil service has their own attitude to work.

The electorade will decide and we will have an FG /Lab govt next time round. Then who knows?