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Thread: Rothschild to advise on Irish banking rejig

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    Politics.ie Member Dreaded_Estate's Avatar
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    Default Rothschild to advise on Irish banking rejig

    Update1-Rothschild to advise on Irish banking rejig | Reuters

    * Rothschild replaces Merrill as Irish government adviser


    * Mandate will cover establishment of Ireland's "bad bank"


    * Role includes potential consolidation of banking sector


    By Victoria Howley


    LONDON, Sept 1 (Reuters) - The Irish government has appointed investment bank Rothschild to advise on the restructuring of the country's banking sector, a source close to the firm said on Tuesday.
    "We will advise the Department of Finance on how to shape the banking system going forward, including the establishment of the National Asset Management Agency and any possible consolidation in the sector," the source said.

    Bank of America Merrill Lynch (BAC.N) was hired to advise the government in September, although that contract expired in the summer and was put out to tender in July, a spokesman for the Department of Finance said.

    The spokesman confirmed Rothschild's new role.
    Rothschild will also advise on dealings with the European Commission and recommend how relationships with lenders participating in the "bad bank" scheme should be managed, according to a tender document posted on Ireland's public procurement website.


    Dublin plans to take over risky property loans with a book value of up to 90 billion euros ($129.2 billion) from Allied Irish Banks (ALBK.I), Bank of Ireland (BKIR.I) and other lenders and park them in a National Asset Management Agency, or bad bank, to free up the flow of credit.
    Government bonds issued in return for the assets will boost Ireland's national debt by 60 billion euros, according to the median forecast of 6 economists in a Reuters poll on Tuesday, compared with a national debt level of 67 billion euros at the end of July.

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    Default Israeli balfour animal

    Thats great, now we have Rothschild (redshield) involved in our banks and we have royal dutch shell raping our resources, all involved in the bilderberg group at the highest level. We are being fooled big time, especially with rothschild as they funded both world wars and are responsible along with the english for the problems in the middle east. The Balfour arrangement was signed to this miserable zionist murderer and now the traitors in power here have brought him in to re-inforce their self serving agenda! Get the murderer out of our country!

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    Politics.ie Member The Caped Cod's Avatar
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    What a surprise, everything goes tits up and Rothchild lands on the scene to poteintialy consolidate the banking sector. Why not Rockafeller or indeed one of the Morgans.

    Thats great, now we have Rothschild (redshield) i
    I believe their actual name was Beuer or something.

    Wasn't it Meyer Amstell Rothchild who said;
    Give me control of a nation's money supply, and I care not who makes it's laws.
    "Authority that cannot be questioned is tyranny and I will not accept tyranny, any tyranny, even that of heaven."
    - Terry Pratchett

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    Well done Brian. Sure give Carroll 500 Million Euro more of tax payers money to finish off the Anglo Irish building as a pyramid with the all seeing eye on top to welcome in our new overlords.

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    Quote Originally Posted by Cassandra Syndrome View Post
    Well done Brian. Sure give Carroll 500 Million Euro more of tax payers money to finish off the Anglo Irish building as a pyramid with the all seeing eye on top to welcome in our new overlords.
    Heeeheeee

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    Are any figures available for the amount Cowen spends (wastes) on consultants to tell him what to do?

    It seems he will not be happy until he has hired every Investment bank, consultancy service and economic consultant to advise him.

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    Politics.ie Member Furze's Avatar
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    God, does it matter. Rothschild - they'll probaly hire our bank buckos that the Greens force to step down. Roll on Lisbon - "Never,never,never."
    Mammy, get the hammer there's a fly on daddy's head.

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    Politics.ie Member MsAnneThrope's Avatar
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    *bump*

    In what looks like a separate contract award to the one announced in this 2009 thread, NM Rothschild has been chosen over 8 other bidders for the "Provision of advisory and banking transaction services to the Minister for Finance". The 'Contracting Authority' was the National Treasury Management Agency, according to the tender. The contract was awarded on July 28th, 2010 but only published in late October.

    Contract Award Here, although no value is indicated.

    Seperately, Ernst & Young, who we know do lucrative work for the State and NAMA, are planning to hire 300 additional people in Ireland.

    RTÉ: Ernst & Young to hire 300 workers

    During this incredible recession and at a time when we're told that our recovery will be 'export led' there seems to be an awful lot of State money being dished out to boys like these. Jays, I think I'm in the wrong business...
    We all love animals. Why do we call some 'pets' and others 'dinner'?

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    Politics.ie Member WTTR's Avatar
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    Quote Originally Posted by MsAnneThrope View Post

    During this incredible recession and at a time when we're told that our recovery will be 'export led' there seems to be an awful lot of State money being dished out to boys like these. Jays, I think I'm in the wrong business...
    Right on! Well now you know. Make a mess of your work, guarantees massive fees from the government in correcting it. How many people are “up the swanny” because of bad financial advice from the private sector?

    At the same time, our government is to lay off thousands of public servants, this will need further money. Why not get these people to do the work in unravelling the banking mess. All you need is a few people in control who know what they are doing. Most of the CS is third level educated. Banks and accountants have hundreds of non-financial educated people on their payroll.

    It’s a right merry-go-round, and down further in the hole we go!

    A bit of joined-up thinking is needed!
    No warning can save a people determined to grow suddenly rich. - Lord Overstone.
    Hadn't met any Irish people that were afraid of anything - Christine Lagarde. 2008.

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    Its like a sick joke. Why isn their a new political movement on financial reform?

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