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Thread: IL&P put Billions on deposit in Anglo

  1. #1
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    Default IL&P put Billions on deposit in Anglo

    Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.

    It is understood the issue of how the deposit affected accounts at Anglo Irish is also being investigated by the financial regulator.

    Sources have told RTÉ News that volatility in deposits in Anglo Irish Bank was one of the reasons the Government moved to nationalise it.
    From RTE News
    Last edited by David Cochrane; 10th February 2009 at 11:08 PM.

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    Financial regulator investigating "deposit volatility" at Anglo immediately prior to nationalisaion.

    Do we need more proof that the whole irish banking system is a festering rat's nest?

    And our great leaders want to bail this septic mess out!

    It's rentokill and dynorod that's needed not more billions.

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    up on rte now:
    http://www.rte.ie/news/2009/0210/angloirish.html
    Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.
    It is understood the issue of how the deposit affected accounts at Anglo Irish is also being investigated by the financial regulator.
    Sources have told RTÉ News that volatility in deposits in Anglo Irish Bank was one of the reasons the Government moved to nationalise it.
    anyone cast any light on what might be going on?
    “A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living” R. Steiner

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    I've just been listening to it, open-jawed. The reporter just reported it as if it wasn't that big a deal. WTF is going on ? There are so many questions.

  5. #5

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    Auditing 101- Pay particular attention to large and unusual transactions that occur close to year end. Alway check post-yr end accouts to see if there have been any large cash movements.
    When buying and selling are controlled by legislation, the first things to be bought and sold are legislators

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    Default Irish Life deposit in Anglo probed

    Government appointed directors in Anglo Irish Bank are investigating a deposit of billions of euro by Irish Life & Permanent in Anglo Irish bank before the end of its financial year.

    More from RTE News.

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    RTE explaining now:

    Sep 30 was Anglo's year end, (and also the date of the State Guarantee.)

    EOY accounts showed that deposits grew between 2007 and 2008, thanks to this deposit made at the year end. Had it not been made, accounts would have shown overall deposits falling...
    “A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living” R. Steiner

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    Looks like Anglo proping up the accounts for year-end... Share price manipulation comes to mind again?

    Were IL&P complicit?

  9. #9

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    jaysus, IL&P have a deposit to loan ratio of 100 to 260 or something like that - which is high, bordering on recklessly high

    imagine if they'd lost the deposits as well ...

    they would have sunk with Anglo

  10. #10

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    Quote Originally Posted by Outlander View Post
    Looks like Anglo proping up the accounts for year-end... Share price manipulation comes to mind again?

    Were IL&P complicit?
    Maybe they were and maybe they were not.....but what I want to know is who decided to put Jessica Simpson in charge of the auditing.....
    When buying and selling are controlled by legislation, the first things to be bought and sold are legislators

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