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Thread: What did Brian Cowen know about Anglo and when did he know it?

  1. #1

    Default What did Brian Cowen know about Anglo and when did he know it?

    On April 24 2008, Brian Cowen sat down for a private dinner with the board of Anglo Irish including chairman Sean FitzPatrick and the chief executive David Drumm.at their headquarters on St Stephen’s Green
    A few weeks previously The Maple Project had been set up with the knowledge of the Financial Regulator to reduce businessman Sean Quinn’s financial interest in the bank. Quinn held 28% of Anglo Irish Bank through instruments known as contracts for difference.
    Internal documents from the bank show that over a four-month period in 2008, Pat Neary, the then financial regulator, and his staff were kept abreast of the plan to reduce a secret 28% shareholding held by the insurance tycoon.

    Just days before the bank lent €500m to 10 of its most highly-regarded clients to buy almost one-third of the stake controlled by Quinn, David Drumm, Anglo’s chief executive, sent an email to a colleague saying that the regulator was “squared”. Other documents refer to John Hurley, the then Central Bank governor, being briefed on Quinn’s massive exposure to the bank.
    Is it credible that the Minister of Finance would have been unaware of this issue when the Central Bank governor and the Financial Regulator had been informed of it?
    ‘Anglo 10’ plan known to regulator - Times Online

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    Politics.ie Member Mitsui2's Avatar
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    Quote Originally Posted by PaddyJoe McGillycuddy View Post
    Is it credible that the Minister of Finance would have been unaware of this issue when the Central Bank governor and the Financial Regulator had been informed of it?
    Of course it isn't credible. But he'll say he didn't and he won't be pressed on the issue - unless FG really do want an election. Even then I daresay he'll skate by.

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    Politics.ie Member Disillusioned democrat's Avatar
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    I guess this explains why Cowen prepared to write off the next three generations of Irish taxpayers.

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    If there was another a he might ahve heard of it.

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    Politics.ie Member Mitsui2's Avatar
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    Quote Originally Posted by ManfredJudge View Post
    If there was another a he might ahve heard of it.
    Come again?

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    Another a lets you form Angola his name for the Health dept.

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    Quote Originally Posted by PaddyJoe McGillycuddy View Post
    On April 24 2008, Brian Cowen sat down for a private dinner with the board of Anglo Irish including chairman Sean FitzPatrick and the chief executive David Drumm.at their headquarters on St Stephen’s Green
    A few weeks previously The Maple Project had been set up with the knowledge of the Financial Regulator to reduce businessman Sean Quinn’s financial interest in the bank. Quinn held 28% of Anglo Irish Bank through instruments known as contracts for difference.

    Is it credible that the Minister of Finance would have been unaware of this issue when the Central Bank governor and the Financial Regulator had been informed of it?
    ‘Anglo 10’ plan known to regulator - Times Online
    What more is required to show people that the state is rotten?
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by PaddyJoe McGillycuddy View Post
    On April 24 2008, Brian Cowen sat down for a private dinner with the board of Anglo Irish including chairman Sean FitzPatrick and the chief executive David Drumm.at their headquarters on St Stephen’s Green
    A few weeks previously The Maple Project had been set up with the knowledge of the Financial Regulator to reduce businessman Sean Quinn’s financial interest in the bank. Quinn held 28% of Anglo Irish Bank through instruments known as contracts for difference.

    Is it credible that the Minister of Finance would have been unaware of this issue when the Central Bank governor and the Financial Regulator had been informed of it?
    ‘Anglo 10’ plan known to regulator - Times Online

    Simulated dialogue:

    BC: Fair ******************************s to you Seanie, Bert told me you were some f*ing cowboy but I had no f*ing idea what class of a f*in cowboy I was f*ing with. I can't believe you got that f*ing idiot q* to buy in as well, I thought he had some f*ing cop on.

    SF: thank you minister. Another glass of sancere?

    BC: Oh all right. But lets's all go for a few pints later, OK?

    SF: yes, minister.

  9. #9

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    Quote Originally Posted by PaddyJoe McGillycuddy View Post
    Is it credible that the Minister of Finance would have been unaware of this issue when the Central Bank governor and the Financial Regulator had been informed of it?


    Looking for a fool's pardon.



    Last edited by I'mVeryGladYouAskedMeThat; 21st March 2010 at 10:20 AM.
    You should listen to my bias, not the other side’s bias.

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    Politics.ie Member hammer's Avatar
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    You can now see why Patrick Neary got a BIG payoff

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