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Thread: Kathleen Barrington SBP 12/9/10

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    Politics.ie Member jpc's Avatar
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    Default Kathleen Barrington SBP 12/9/10

    Anyone care to comment on her article.
    The curious tale of Anglo Irish Bank and its Austrian deposits.
    Anglo sell off a bank with 600 million Euro deposits at the same time they are going under in sept2008.
    Give the purchaser a loan to buy it.
    It is a very curious tale.
    Its only a chat, we ain't the world council.

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    We'll never know the full story.

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    Politics.ie Member MsAnneThrope's Avatar
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    Link to article:

    The curious tale of Anglo Irish Bank and its Austrian deposits

    The timing of the sale and the initial loan to help buy it is interesting.
    We all love animals. Why do we call some 'pets' and others 'dinner'?

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    Politics.ie Member jpc's Avatar
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    Is it me or is there a lot of implications about who put what into this bank before it was sold off in a hurry?
    Its only a chat, we ain't the world council.

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    Politics.ie Member SlabMurphy's Avatar
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    Corruption, dodgy deals, lies, more corruuption, more lies, more dodgy deals......does it ever end ?

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    Quote Originally Posted by jpc View Post
    Is it me or is there a lot of implications about who put what into this bank before it was sold off in a hurry?

    There are implications before, after, during and now, but the Keystones have gone in and commandeered the records, somewhere in there will be a list of depositors at this Anglo branch and even they should be able to piece together what is what against the loan book, with particular reference on back to back loans.

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    Sean FitzPatrick’s decision to offload an Austrian private banking subsidiary in 2008 means the identities of its customers remain shrouded in secrecy

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    Slugger has more here:

    Anglo’s Austrian branch used to launder Mafia money? Slugger O'Toole

    Looks like things just got a little more complicated at the end of a very complicated week for the troubled government owned Anglo Irish Bank:

    Banks in Austria were used to launder about 2 billion euros ($A3 billion) for the Italian mafia between 2005 and 2007, the Austrian weekly profil reports, citing Rome prosecutors
    Probe into Italy mafia money laundering

    Banks in Austria were used to launder about 2 billion euros ($A3 billion) for the Italian mafia between 2005 and 2007, the Austrian weekly profil reports, citing Rome prosecutors.

    According to prosecution documents, the money was laundered through 14 accounts at Raiffeisen Zentralbank, Bank Austria - which now belongs to Italy's UniCredit Group - and the Austrian branch of Anglo Irish Bank, profil said on Sunday.
    "Ever tried. Ever failed. No matter. Try again. Fail again. Fail better."

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    Politics.ie Member MsAnneThrope's Avatar
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    Thanks for that Oceanclub. And closer to home, earlier this year, we had:

    Anglo Irish Isle of Man voted "Best Offshore Bank for Expats" for 6th year in a row

    Some bank huh?
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    Politics.ie Member cyberianpan's Avatar
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    I know that Kathleen Barrington is a sister of our resident lunatic (KevBar)... but I thought she was the respectable one:

    Sunday Business Post | Irish Business News
    Anyone who watched the RTE documentary Freefall last week was left in no doubt that Sean FitzPatrick’s Anglo Irish Bank was insolvent by September 29, 2008 due to a lack of access to bank funding and a flight of depositors.
    The bit she describes in bold is illiquid... not insolvent

    Also she doesn't even have a hint of a story here - it is depressing that someone as underable as this is allowed to waste column space

    cYp

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