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Thread: IL+P/Anglo deposit was approved by regulator and Central Bank

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    Politics.ie Member Digout's Avatar
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    Default IL+P/Anglo deposit was approved by regulator and Central Bank

    According to Newstalk, a statement issued by IL+P strongly hints that the above transaction was approved by the central bank and regulator before it happened.

    Statement - http://www.newstalk.ie/Irishlife.pdf

    It was said that they were responding to a call "To wear the green jersey and move the money to Anglo following a call from the regulator". So, it was a partiotic act?

    So, as I have asked before, did this plan originate in government buildings on the night of the guarantee?
    Last edited by Digout; 13th February 2009 at 09:18 AM.

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    Quote Originally Posted by Digout View Post
    According to Newstalk, a statement issued by IL+P strongly hints that the above transaction was approved by the central bank and regulator before it happened.

    I cant find the statement online, when I find it I'll post it.

    So, as I have asked before, did this plan originate in government buildings on the night of the guarantee?
    Wouldn't surprise me in the slightest.

    Given who owns most of the debt and how beholden FF are to them, is it any surprise that the Government would permit such a transaction?
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

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    Politics.ie Member Digout's Avatar
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    If this is true, the government will fall.

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    Quote Originally Posted by Digout View Post
    If this is true, the government will fall.
    I don't know. It would take a whole lot.
    When buying and selling are controlled by legislation, the first things to be bought and sold are legislators

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    Quote Originally Posted by Digout View Post
    If this is true, the government will fall.
    What are the legal ramifications of this? I was under the impression that despite the optics being extensibly bad there is nothing technically illegal about the deposit or its approval.
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

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    Politics.ie Member Digout's Avatar
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    Quote Originally Posted by lowtaxireland View Post
    I don't know. It would take a whole lot.
    Seeing as the money was moved hours after the guarantee was annouced the only way it could have happened is if it was agreed in government buildings.

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    Quote Originally Posted by Leftfemme22 View Post
    What are the legal ramifications of this? I was under the impression that despite the optics being extensibly bad there is nothing technically illegal about the deposit or its approval.
    Fek the legal ramifications - What are the implications for Ireland's international banking reputation? All Irish government debt would be seen as toxic.

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    If it was even 1 % true . . . a certain former regulator will find it really difficult to spend 160k pa from a jail cell.

    the execs that resigned should be in Garda custody RIGHT NOW ! .... So should Fitzpatrick.

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    Politics.ie Member Digout's Avatar
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    From the statement

    It was noted that the Financial Regulator had communicated to the Non
    Executive Directors of the Board in person last May that it was a policy
    objective of both the Central Bank and the Financial Regulator that Irish
    financial institutions would work to support each other in the face of an
    unprecedented threat to the stability of the Irish financial system arising from
    the international credit crisis.

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    Politics.ie Member Digout's Avatar
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    Its simply not credible that this was not discussed during the formulation of the guarantee scheme.

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