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Thread: Greedy moron sues Davy Stockbrokers

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    Politics.ie Member Aristodemus's Avatar
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    Default Greedy moron sues Davy Stockbrokers

    Just reading this story sums up the greed that swept this country for a few years. This lad inherits property worth €10m and squanders his inheritance by speculating on the Stock Market. Seems his defence is that he is a moron and the banks should have known that and not lent him any money. All the other issues raised by his legal team are just a muddying of the waters. He's getting no sympathy off me.

    Man says he is not liable for €3.4m loans - The Irish Times - Tue, Dec 18, 2012

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    Jim Mansfield's son deployed a similar defence. He said he had a reading age of 12, despite being a director of 6 companies.

    Seán Quinn's wife also deployed a similar defence. She was a director of 15 companies, and a company secretary of 10, and yet expected the High Court to believe that she stayed at home all day washing dishes and ironing clothes, and knew nothing about Company law. This was the most stunning display of lies and perjury which the Commercial Court has seen to date anyway.

    In all these cases, I feel sorry for the lawyers who are forced to go in to court and sully their own reputations by making arguments which are completely laughable.

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    Politics.ie Member Aristodemus's Avatar
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    Quote Originally Posted by Ryan Tubbs View Post
    Jim Mansfield's son deployed a similar defence. He said he had a reading age of 12, despite being a director of 6 companies.

    Seán Quinn's wife also deployed a similar defence. She was a director of 15 companies, and a company secretary of 10, and yet expected the High Court to believe that she stayed at home all day washing dishes and ironing clothes, and knew nothing about Company law. This was the most stunning display of lies and perjury which the Commercial Court has seen to date anyway.

    In all these cases, I feel sorry for the lawyers who are forced to go in to court and sully their own reputations by making arguments which are completely laughable.
    I'm not so sure. If I was to speculate then I would say that the plaintiff approached a solicitor who then introduced him to a Barrister. Five minutes talking to this guy probably convinced him that the client was a moron

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    While I dont have any sympathy for the guy, I find it very hard to side with any stockbroker. They have their bread buttered on both sides. Thank God for the internet and online trading, most I know are run by brokers, but its a better kind of brokerage.

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    Quote Originally Posted by Watcher2 View Post
    While I dont have any sympathy for the guy, I find it very hard to side with any stockbroker. They have their bread buttered on both sides. Thank God for the internet and online trading, most I know are run by brokers, but its a better kind of brokerage.
    I assume he is suing the Wealth Destru (oops, sorry Management) Division of said brokerage??

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    Quote Originally Posted by beazlebottom View Post
    I assume he is suing the Wealth Destru (oops, sorry Management) Division of said brokerage??
    Dunno mate. I didn't read all the way to the end. Got bored fairly quick to be honest.

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    Quote Originally Posted by Ryan Tubbs View Post
    Jim Mansfield's son deployed a similar defence. He said he had a reading age of 12, despite being a director of 6 companies.

    Seán Quinn's wife also deployed a similar defence. She was a director of 15 companies, and a company secretary of 10, and yet expected the High Court to believe that she stayed at home all day washing dishes and ironing clothes, and knew nothing about Company law. This was the most stunning display of lies and perjury which the Commercial Court has seen to date anyway.

    In all these cases, I feel sorry for the lawyers who are forced to go in to court and sully their own reputations by making arguments which are completely laughable.
    You feel sorry for lawyers?

    http://www.google.ie/url?sa=t&rct=j&...4zjTO8aWgTlvWQ

    According to the article in the Examiner the lawyers themselves are playing the moron defence and borrowed (along with other wealthy professionals) hundreds of millions from Anglo to invest in geared property funds that have gone sour.
    They owe money for the loans but are now going to sue the taxpayer (sorry IBRC) for their mistake.
    How can they do this when IBRC did not exist at the time that they took out their loans?

    Apparently many barristers are sweating as their ability to continue 'practicising' could be in jeopardy if they have judgements them.
    There is a delicious irony to this but at the same, time a real risk that the taxpayer (and taxpayers not yet born) could be asked yet again to bailout Ireland's wealthy elites.
    Greed. Pure and simple.
    But what if the judge is in the same golf club or in the Gonzaga old boys society along with the greedy barrister?
    Last edited by birthday; 18th December 2012 at 05:29 PM. Reason: link

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    Politics.ie Member Aristodemus's Avatar
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    Quote Originally Posted by birthday View Post
    But what if the judge is in the same golf club or in the Gonzaga old boys society along with the greedy barrister?
    Is this is a rhetorical question?

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    Quote Originally Posted by birthday View Post
    You feel sorry for lawyers?

    http://www.google.ie/url?sa=t&rct=j&...4zjTO8aWgTlvWQ

    According to the article in the Examiner the lawyers themselves are playing the moron defence and borrowed (along with other wealthy professionals) hundreds of millions from Anglo to invest in geared property funds that have gone sour.
    They owe money for the loans but are now going to sue the taxpayer (sorry IBRC) for their mistake.
    How can they do this when IBRC did not exist at the time that they took out their loans?

    Apparently many barristers are sweating as their ability to continue 'practicising' could be in jeopardy if they have judgements them.
    There is a delicious irony to this but at the same, time a real risk that the taxpayer (and taxpayers not yet born) could be asked yet again to bailout Ireland's wealthy elites.
    Greed. Pure and simple.
    But what if the judge is in the same golf club or in the Gonzaga old boys society along with the greedy barrister?
    Heavens forbid....what if the judges are in the same boat?

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    Politics.ie Member Analyzer's Avatar
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    I hope the "loser" here wins his case.

    It might have implications for estate agents

    They encouraged many people to make lousy investments. It would be fun seeing the soil they pants.
    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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