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Thread: FG/Lab government happy for ex-AIB CEO to get 500k pension paid by tax payers

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    Politics.ie Member Disillusioned democrat's Avatar
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    Default FG/Lab government happy for ex-AIB CEO to get 500k pension paid by tax payers

    Let's try again....

    The AIB are paying an ex-CEO, famous for saying he'd rather die than see his bank bailed out, a pension of 500k from a bailout fund. Besides the irony of this individual's apparent volte-face on dipping his beak into the bailout fund, what does it say about our governments sincerity when it comes to actual "austerity".

    AIB uses pension bailout to pay ex-chiefs up to €500K - Irish, Business - Independent.ie

    The CEO in question was firmly at the helm when the bank steered its shareholders and tax payers into the rocks, but it seems the concept of a captain going down with his ship is reserved for the "little people" and in fact not only did he allow his passangers go down with the ship he hopped aboard a luxury cruiser going the other way, waved a cheery two finger salute to the crew and sailed off into a life of tax payer funded luxury.

    So - to my government - phuck you!!!!! Next payday when you dip your pockets into my pay to protect the vulnerable all I'll be able to think of is that it takes more than ten families like mine to work hard 6 days a week to pay enough tax to fund Mr ex-CEOs pension.
    The more things change....

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    Politics.ie Member Analyzer's Avatar
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    Nice to see that the failed former boss of AIB is making even more money from doing nothing than Pravda bores talking out their holes.

    AIB has no officially entered quango territory. Pay completely unrelated even to effort.

    This madness has to stop.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Let me get this right. AIB has hiked up variable rate mortgage interest rates by 1% in the last couple of months, so that it can return to profitability, and at the same time it is paying €500,000 every year to the Chief Executive who, but for the intervention of the State, would have overseen the destruction of the company?

    This country is beyond farce.

    And yesterday David Duffy, the current CEO, had the nerve to speak about moral hazard.
    I have no money, but I love my life.

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    Politics.ie Member Analyzer's Avatar
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    AIB don't do irony, do they ?

    What a collection of useless tossers.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member Disillusioned democrat's Avatar
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    Quote Originally Posted by ShoutingIsLeadership View Post
    Let me get this right. AIB has hiked up variable rate mortgage interest rates by 1% in the last couple of months, so that it can return to profitability, and at the same time it is paying €500,000 every year to the Chief Executive who, but for the intervention of the State, would have overseen the destruction of the company?

    This country is beyond farce.

    And yesterday David Duffy, the current CEO, had the nerve to speak about moral hazard.
    Of course - David Duffy next in line. We used to marvel at bankers salaries, but Jesus wept, you would have assumed that with €1m+ salaris they would be looking after their own futures. It seems AIB was ALWAYS a public sector employer.
    The more things change....

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    And this is the type of local service the property tax will get spent on . This is disgusting and when people are saying to cut the waste this is what they are talking about.
    Support the NVNG Movement

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    Politics.ie Member Lonewolfe's Avatar
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    Quote Originally Posted by Disillusioned democrat View Post
    Let's try again....

    The AIB are paying an ex-CEO, famous for saying he'd rather die than see his bank bailed out, a pension of €500k from a bailout fund. Besides the irony of this individual's apparent volte-face on dipping his beak into the bailout fund, what does it say about our governments sincerity when it comes to actual "austerity".

    AIB uses pension bailout to pay ex-chiefs up to €500K - Irish, Business - Independent.ie

    The CEO in question was firmly at the helm when the bank steered its shareholders and tax payers into the rocks, but it seems the concept of a captain going down with his ship is reserved for the "little people" and in fact not only did he allow his passangers go down with the ship he hopped aboard a luxury cruiser going the other way, waved a cheery two finger salute to the crew and sailed off into a life of tax payer funded luxury.

    So - to my government - phuck you!!!!! Next payday when you dip your pockets into my pay to protect the vulnerable all I'll be able to think of is that it takes more than ten families like mine to work hard 6 days a week to pay enough tax to fund Mr ex-CEOs pension.
    What can we do about this sh1t? Seriously.

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    Politics.ie Member DaveM's Avatar
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    I'm no happier than anyone else about this but is it as simple as sating this is the government's fault and they can stop this in the blink of an eye? Think it through in practical terms.

    If they slashed Sheehy's pension he'd be straight into the courts and would get a court order to enforce its payment. The only way to stop this and other pensions would be to put the bank into either examinership or receivership. I'm not saying there isn't a strong argument for doing that but let's not pretend that that would be an easy thing to do without much wider consequences, consequences which would make Sheehy's pension a minor side issue.

    Am I pissed off that this cretin and his mates are still living the high life? Yes. Do I think we should have taken a different path in dealing with the banks in recent years? Yes. However that doesn't mean that the payment of this pension comes down to nothing more than a judgement call on the part of the present government regardless of how the Indo might like to portray it.
    Tantum religio potuit suadere malorum.

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    they put €1billion of "their" assets into the black hole that was their pension pot

    This €1 billion could have been used to pay back the tax payer some of the billions that we put into it yet with one stroke of a pen their pension crisis was solved at our expense

    Banks still giving two fingers to us

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    Politics.ie Member richie268's Avatar
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    The beauty of a failed capitalist system boils my p!ss.
    I hope that in all the mire I do not forget to pay my household charge whilst remembering that in 2006 I paid stamp duty of the tune of 18000euro at least I know where the Bastarts are spending my money.

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