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Thread: Former AIB Director appointed as advisor to Dept of Finance.

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    Default Former AIB Director appointed as advisor to Dept of Finance.

    Former AIB director Jimmy O'Leary had been appointed as an economic advisor to the Department of Finance. This man was a director between 2002 and 2008.

    What a sick sick joke.

    http://www.independent.ie/business/i...r-2355204.html
    Last edited by Oldira1; 28th September 2010 at 11:39 AM.

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    i think this pretty much sums it up

    [ame=http://www.youtube.com/watch?v=rX7wtNOkuHo]YouTube - Nelson[/ame]

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    Politics.ie Member DeputyEdo's Avatar
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    Did you expect anything different?
    FF wont let all their buddies from the banks suffer, they'll give them cushy jobs, ensure they don't go to jail and defend them to the media if they have to.
    This country is run by a government who care about themselves and their buddies only.

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    He was a non-executive director. Big difference.

    Perhaps it isn't the wisest choice from a PR point of view tho.

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    Someone pointed out earlier, and it is true, that O'Leary was against bench-marking and stepped down from the board.

    The report of the Benchmarking Body recommended that public service workers be given an average increase of 9%. This recommendation was a sham as it could not justify these increases with facts. Jim O'Leary, the economist on body resigned in protest.

    However, In 2000 the economy was booming and tax revenues were flooding in to the Government. The Government bought off public service workers by giving this 9% increase.
    We have the highest paid public servants in the World - Temp, frontpage - Sligochampion.ie

    I do not like O'Leary hinting that he saw the housing bust, and should have said something, but AIB Sr. management held a different view.
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    Quote Originally Posted by Service charge View Post
    He was a non-executive director. Big difference.

    Perhaps it isn't the wisest choice from a PR point of view tho.

    Non-exec part is very true, the execs are/were in control of the info flow to the main Board and what happened was a scenario similar to Fas, theory of regulation but no application.

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    Another case of JFTB.
    "Never in the field of human endeavour was so much owed by so many to so few." Sir Winston Churchill

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    Politics.ie Member eoghanacht's Avatar
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    So even after this man admits he made a grave error he's deemed worthy of what i presume is a cushy job with a tidy renumeration package.

    'During the property boom, he said, senior bankers believed the economy would achieve a "soft landing", where property values would "plateau or fall modestly" rather than crash. He said at that time the sceptics could have and should have articulated their doubts more consistently'

    Is he trying to blame the sceptics for not articulating their doubts???

    Really, ffs like. There were numerous people both within the country and without warning that the economy would have a crash landing.

    Mr. O'Leary is attempting to shift the blame onto those very commemtators that called for restraint and not those in Government or their advisors for the crisis.

    No wonder FF gave him a cushy number.
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

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    Quote Originally Posted by Service charge View Post
    He was a non-executive director. Big difference.

    Perhaps it isn't the wisest choice from a PR point of view tho.
    Not True. From a legal point of view, there is no difference between the executive and nonexecutive directors in terms of their responsibilities towards the company and its shareholders.

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    Politics.ie Member farnaby's Avatar
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    "If we keep the same people and the same ideas that were around during the Celtic Tiger years, we'll have a boomy boom again!"
    FF psychotic logic

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