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Thread: Fingleton & co. operated in plain sight then walked...and FF/GP charge us, not him

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    Default Fingleton & co. operated in plain sight then walked...and FF/GP charge us, not him

    We sat back and watched Fingleton hijack Nationwide, and John McManus wonders why he is now left in peace while we pay the bills.

    We sat back and watched Fingleton hijack Nationwide - The Irish Times - Mon, Apr 19, 2010

    what little light has been shone on the inner workings of Irish Nationwide to date only confirms this picture, with Fingleton acting as a one-man credit committee and fast-tracking loans for politically connected clients, including Celia Larkin and Charlie McCreevy.

    The truly baffling thing about what happened at Irish Nationwide was that it pretty much happened in plain sight. Fingleton blatantly paid little more than lip service to the rules governing mutual societies and nobody shouted stop.

    Instead of being held to account, he was lauded as some sort of mischievous, but brilliant, rogue basking in that most dangerous of Irish sentiments, sneaking regard.
    toxic avenger on p.ie has been trying to breathe life into one clear political manoeuvre nodded through the Oireachtas and solely benefitting Fingleton's operation here -

    http://www.politics.ie/current-affai...hypocrite.html

    Astonishingly, in 2006, changes were made to the building society legislation specifically tailored to allow Fingleton sell the building society at the time and in the manner of his choosing.
    He now leads a happy retirement, with the government's blessing:

    It is all the more bizarre, because of the extent to which Irish Nationwide was a one-man band makes Fingleton’s responsibility for the €2.5 billion mess to be unveiled shortly absolutely unequivocal by comparison with his peers at the other banks. They at least followed corporate governance norms. It did not save them, but it does spread the blame.

    The Government has pretty much washed its hands of the issue and left matters to the Office of the Director of Corporate Enforcement and the Financial Regulator.

    This provides a convenient fig leaf for inaction but, as of the beginning of this month, the Government took control of the society when it gave it the first €100 million of the €2.6 billion of taxpayers’ money that will be needed to fix the mess created by Fingleton.

    It would be nice to think that a letter from the Minister accompanied the cheque instructing the society to pursue its former chief executive and his pension. If Brendan Murtagh’s creditors can do it, then surely so can Fingleton’s former employers.

    But even this seems unlikely given that the Government plans to dismantle Irish Nationwide as soon as possible.
    Just to be on the safe side, the government has crippled the office of the Director of Corporate Enforcement.

    http://www.politics.ie/justice/45664...-fail-did.html

    This is Irish culture, so I am posting this in Culture and Community.
    Last edited by He3; 21st April 2010 at 08:08 PM.
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

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    You can be guaranteed that the very top of business and politics in this country is riddled with fraudulant and criminal activity.

    The current attempts at cover up and the blatant attempts to buy the silence of co conspirators with tax payers money via golden handshakes and massive pensions is evidence of this fact.

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    FF/Greens will not go after anyone.

    Once they got their secret bank inquiry up to protect the party hacks, its been plain sailing.

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    Politics.ie Member hammer's Avatar
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    Only the little people pay tax

    €2,700 million for INBS is small change to bail out these developers. Small change.

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    Politics.ie Member rockofcashel's Avatar
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    If something can't be found on Fingleton to ensure he spends the rest of his days behind bars, then we may as well shut this country down. How IN could be in this state without some measure of serious fraud, beats me
    1,197 people agree with me.. how many agree with you ?

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    And people still say that Michael McDowell was a good minister for justice,

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    Politics.ie Member Raketemensch's Avatar
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    I know what I would like to do to this thing

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    Didn't there used to be someone who used to run at every AGM on an anti-Fingers platform? Share account holders would get a letter from the board pretty much calling him a mental case.
    Economic Left/Right: -2.88 (down 3.63 since the financial crash)
    Social Libertarian/Authoritarian: -5.18

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    Quote Originally Posted by Raketemensch View Post
    I know what I would like to do to this thing

    I think he and his political friends are already doing that to you.
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

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    Quote Originally Posted by rockofcashel View Post
    If something can't be found on Fingleton to ensure he spends the rest of his days behind bars, then we may as well shut this country down.
    Or someone might hopefully (not*) collapse his skull with a hammer.


    *DGYS
    *************, *********, ********, **** <3 USA

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