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Thread: €2.5 Billion debt write off for Sean Quinn.

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    Default €2.5 Billion debt write off for Sean Quinn.

    As reported in the Sunday Business Post €2.5 Billion of the €2.9 Billion that he borrowed from the bank has been written.

    Roughly 10% of the Anglo bailout.
    " I am prepared to meet my Maker. Whether my Maker is prepared for the great ordeal of meeting me is another matter. " Winston Churchill.

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    Appauling that the tax payer has to pick up this bill. He must know some inside information that hes keeping quite about to have got this gift.

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    A good week to slip out bad news.

    http://www.politics.ie/economy/13959...ons-asked.html
    "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 orourkeda View Post
    As reported in the Sunday Business Post €2.5 Billion of the €2.9 Billion that he borrowed from the bank has been written.

    Roughly 10% of the Anglo bailout.
    One of the top buck cats in de ruling oligarchy - what do you expect? You hardly thought he would pick up his own bill...

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    Quote Originally Posted by eire_sai View Post
    Appauling that the tax payer has to pick up this bill. He must know some inside information that hes keeping quite about to have got this gift.
    No, he's just one of the ruling oligarchy. Its no secret.

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    Had to happen. Can you imagine the amount of cement lorries that would have driven into the gates of Leinster House if his debt was not written off.

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    Quote Originally Posted by Cael View Post
    One of the top buck cats in de ruling oligarchy - what do you expect? You hardly thought he would pick up his own bill...
    Definitely not.

    I never imagined for one second he would pay this off. It just highlights to an extent what it is we're paying for.

    That's €2.5 billion euro worth of loans that we have had written willy nilly.
    " I am prepared to meet my Maker. Whether my Maker is prepared for the great ordeal of meeting me is another matter. " Winston Churchill.

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    I wonder will the Cavan Chamber of Commerce be organising another show of support for their man?
    A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.

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    Quote Originally Posted by orourkeda View Post
    Definitely not.

    I never imagined for one second he would pay this off. It just highlights to an extent what it is we're paying for.

    That's €2.5 billion euro worth of loans that we have had written willy nilly.

    Its like the last days of the Roman empire - but no Roman emperor ever got a gift of that magnitude. What a bunch of herd animals the Irish really are...

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    In the real world when debts are "written off" it is simply a statement that they are unlikely to be recovered, not that they will not be pursued.

    I wonder do we live in the real world?

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