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Thread: McCreevy resigns from bank board after ethics committee finding

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    Default McCreevy resigns from bank board after ethics committee finding

    Not just a county in England.

    Former European commissioner Charlie McCreevy has resigned from the board of a new banking firm after an EU ethics committee found a conflict of interest with his work as commissioner in charge of financial regulation.

    Mr McCreevy stepped down from the board NBNK Investments last night on foot of a negative opinion from the committee, which was established by the Commission to assess his employment by the firm.

    This is first time that a former member of the EU executive has had to resign a directorship since it introduced the current system for overseeing the work of retired commissioners in 2003.

    NBNK Investments was set up during the summer by former Lloyds chairman Lord Levine to pursue acquisition opportunities in the British banking sector. As institutions seek to recover from the financial crash, some large players are selling assets to comply with EU competition rulings.



    McCreevy steps down from bank board over conflict - The Irish Times - Thu, Oct 07, 2010

    Occasional p.ie poster Nessa Childers MEP had made her views plain:

    Labour MEP Nessa Childers had complained that NBNK was “feeding off the financial crisis” fanned by Mr McCreevy’s “light-touch” approach to financial regulation. This “bitter irony”, she said, and would not be lost on people who lost their jobs due the financial crisis.
    "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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    Politics.ie Member Asparagus's Avatar
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    I wonder if NBNK find upon mature reflection that actually they didn't need a director at all but maybe a kildare based consultancy firm?
    ANGER IS A POLICY, GET OFF YOUR KNEES

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    Politics.ie Member libertarian-right's Avatar
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    The EU buildings will soon have stickers on the door windows saying:

    "No Irish Need Apply"

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    Well, at least we have one growth area in the overseas markets - FF's home grown lack of ethics. They just can't help themselves, can they?

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    Politics.ie Member SlabMurphy's Avatar
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    Quote Originally Posted by He3 View Post
    Not just a county in England.

    Former European commissioner Charlie McCreevy has resigned from the board of a new banking firm after an EU ethics committee found a conflict of interest with his work as commissioner in charge of financial regulation.

    Mr McCreevy stepped down from the board NBNK Investments last night on foot of a negative opinion from the committee, which was established by the Commission to assess his employment by the firm.

    This is first time that a former member of the EU executive has had to resign a directorship since it introduced the current system for overseeing the work of retired commissioners in 2003.

    NBNK Investments was set up during the summer by former Lloyds chairman Lord Levine to pursue acquisition opportunities in the British banking sector. As institutions seek to recover from the financial crash, some large players are selling assets to comply with EU competition rulings.



    McCreevy steps down from bank board over conflict - The Irish Times - Thu, Oct 07, 2010

    Occasional p.ie poster Nessa Childers MEP had made her views plain:

    Labour MEP Nessa Childers had complained that NBNK was “feeding off the financial crisis” fanned by Mr McCreevy’s “light-touch” approach to financial regulation. This “bitter irony”, she said, and would not be lost on people who lost their jobs due the financial crisis.
    Well now their's another first for our great wee country, doubtless FF gressroots will be angered at the mistretament of one of our finest economic genius's of the 20th century . And what does this mean for future FF jobs for the boys in Europe.

    Well I know I'm giving stick to my enemies to beat me with, but loss of economic sovernity to the EU for a decade or two to clear up the mess that is the country and a new political system/constitution imposed on us after the mess is cleared before/if they give us our economic soverignity must be the only way this corrupt, cronyist, incompetent state can ever be reformed.

    Just goes to show what world opinion thinks of us now. The more kicks up the butt this state gets the better.

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    Well done to Nessa Childers.

    As I predicted here last week, Mc Creevy conned gombeen acolytes in Ireland for 30 years but he was clocked within months of his arrival in Brussels for what he is, a short cutting, lazy spoofer.
    A classic FF'er whose resume will include, horse racing, golf, more horse racing, free loading, grinning, odd wise crack and sidling up to powerful business connections?
    Who needs innovation, integrity, intelligence or hard work when you can have a gap toothed grin and a wink.
    Once the appropriatness of his appointment was left to the EU to decide, then he was always going to be toast.

    In a week when Cashel decided to run National disgrace Ahern out of town, this Mc Creevy climb down is further good news for those who are looking for signs this country is prepared to say no to spivs, failed incompetents and crooks.
    Or at very least make it as difficult as possible for such people to thrive.
    Last edited by Anorakphobia; 7th October 2010 at 03:30 PM.

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    Quote Originally Posted by Anorakphobia View Post
    Well done to Nessa Childers.

    In a week when Cashel decided to run National disgrace Ahern out of town, this Mc Creevy climb down is further good news for those who are looking for signs this country is prepared to say no to spivs, failed incompetents and crooks.
    Or at very least make it as difficult as possible for such people to thrive.
    That's an outrageous comparison to make - kindly apologise immediately to all spivs, failed incompetents and crooks.

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    Politics.ie Member Ulster-Lad's Avatar
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    Well the efficiency of the EU is to be admired in this. I started a thread 3 days ago about the EU launching an investigation into McCreevey.

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

    If this investigation had taken place in Ireland it would have cost us millions, a tribunal would have been appointed, and we would wait years for the result.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    A pity we do not apply the same standards here. Then we might have found Tom Parlons appointment as Chairman of the Construction Industry Federation after being a Minister with responsibility for the Office of Public works, a little odd.

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    It's actually amazing to see "Fianna Failer" and "resign" in the same sentence, but of course it's only because it didn't happen here.

    P.
    "Ever tried. Ever failed. No matter. Try again. Fail again. Fail better."

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