3 votes

Irish Bankers get EU to write a big check with numbers they pulled out of their Ass

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

No, I am not a red-head nor a banker. I am an Irish innocent.

Pine Marten (Martes martes) is one of Ireland’s rarest wild animals. It is normally sighted in the south and west of Ireland, but is hard to find due to being a shy creature. It is an animal native to Northern Europe, and is less commonly known as the Pineten, baum marten or sweet marten. The Pine Marten belongs to the mustelid family, which also includes mink, otter, badger, wolverine and weasel. Its body size is roughly that of a domestic cat at approximately 53cm, and an additional bushy tail can be up to 25cm in length. An average pine marten weighs 1.5kg, and males are slightly larger than females. Their fur is generally light to dark brown, growing longer and silkier during the winter months. On their throats they have a distinctive cream marking called a “bib”.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Pine Marten? Penman rite.

I, man, repent.
Pain term in
enema print.

9-11 was a panda job.

Great information

Thank you for this video. I wished they had one to help children in schools. My daughter is 6 years old and will be going in the 1st grade next year and I have told her if she sees a gun to run like hell and get out of there.

More reading on the subject

Executives at the Anglo Irish Bank were recorded joking about how they lied to Dublin about the bank’s financial future in 2008, convincing lawmakers to invest in the failing bank with figures “picked out of my arse” - with no plans to pay them back.

John Bowe, the head of capital markets for Anglo Irish, was recorded laughing as he explained to Peter Fitzgerald, the former head of banking, how Anglo Irish had fleeced the Irish government into providing billions of euro to keep the bank solvent.

The 2008 conversation was captured by the bank’s internal recording system and published by the Irish Independent. Ireland still has yet to fully recover from the financial crisis, despite attempts to bring the country back to normalcy by way of a drastic austerity program set in motion in the four years since.

In the September 2008 conversation caught on the tape, Bowe admits he knew the €7 billion he initially asked for would not be enough to spare the bank, which was within mere days of a complete meltdown. When asked about the origin of that figure, Bowe referred to then-Anglo Irish CEO David Drumm.

“Just as Drummer would say, ‘picked it out of my arse,’ you know,” he said. “I mean, look, what we did was we basically said: ‘What is the amount we can securitize over the next six months? And basically say to them: ‘Look our problem here is time, it’s not our ability to create the liquidity, the enemy is time here.’”

Both Bowe and Fitzgerald can be heard laughing through the discussion. The tapes’ release also confirms the long-held suspicion that Irish bankers knew the initial government investments were far too small.

“Yeah and that number is seven, but the reality is that actually we need more than that,” Bowe said. “But you know, the strategy here is you pull them in, you get them to write a big check and they have to keep – they have to support their money.”

Anglo Irish has since been renamed the Irish Bank Resolution Corporation, and is still in the process of being liquidated, as the austerity-hit country awaits a high-profile court case into the collapse of the bank.

Recent estimates indicate that, all told, Irish taxpayers will have supplied Anglo Irish Bank alone with €30 billion - a massive sum for the small island nation of just over 4.5 million people.

“If they (the Central Bank) saw the enormity of it up front, they might decide they have a choice. You know what I mean? They might say the cost to the taxpayer is too high,” Bowe went on. “If it doesn’t look too big at the outset – if it looks big enough to be important, but not too big that it kind of spoils everything, then, I think you have a chance.”

“So, so it’s bridged until we can pay you back. Which is never.”

Fitzgerald is heard saying, “Yeah. They’ve got skin in the game and that is the key.”

In statements to national broadcaster RTE, the two executives denied any wrongdoing and any “strategy or intention on the part of Anglo Irish Bank to mislead the authorities.” The two men did not deny the conversation in the excerpts of the statements that RTE read out, Reuters reports.

Bowe excused his comments as “off-the-cuff” when questioned by reporters over the weekend.
Irish opposition parties called for a new probe into the banking crisis, calling the conversation “shocking to the core.”

Government officials have previously blamed an inability to establish a parliamentary committee as the reason for Dublin's failure to hold a public inquiry.

“Any suggestion that the taxpayer was lured into bailing out Anglo Irish Bank under a false impression about the state of the bank’s financial condition is deeply disturbing and has to be fully investigated by the authorities,” said Michael McGrath, finance spokesman of Fianna Fail (The Republican Party).

Ireland has yet to criminally prosecute a single banker who helped gamble the country into an economic tailspin. Pearse Doherty, a finance spokesman for the Irish party Sinn Fein, told the Financial Times the new revelations are a perfect opportunity to reverse that trend.

“They prove conclusively that an investigation is needed into the events surrounding the bank guarantee and subsequently that the people must be prosecuted for their roles in collapsing the Irish economy,” he said.

Germans do not think this is funny

German Chancellor Angela Merkel has expressed outrage over the intrigue of the Irish bank executives who were caught on tape joking about an EU bailout whose rescue cost Irish and European taxpayers, particularly the Germans, 30 billion euro.

The internally-recorded phone calls, published earlier this week, reveal how two Anglo Irish bank executives misled the Central Bank of Ireland that Anglo bank required 7 billion euro to prevent its collapse. Anglo's losses reached 30 billion euro, nearly half of a total bank-bailout bill that forced Ireland to seek IMF bailout money.

The bankers also laugh at Germany's role in the Irish banking bailout as they are heard singing the banned prewar national anthem, reciting lines from ‘Deutschland über Alles’ (‘Germany above Everything’)

The bosses joked about their ability to convince lawmakers to invest in a bank they knew was failing, citing figures one said he had “picked out of my arse” - with no plans to repay the government. John Bowe, the head of capital markets for Anglo Irish, was recorded laughing as he explained to Peter Fitzgerald, the former head of banking, how Anglo Irish had fleeced the Irish government into providing billions of euro to keep the bank solvent.

“Yeah and that number is seven [billion euros], but the reality is that actually we need more than that,” Bowe said. “But you know, the strategy here is you pull them in, you get them to write a big check and they have to keep – they have to support their money.”

Their 2008 conversation, containing lewd language, was captured by the bank’s internal recording system and published by the Irish Independent earlier this week.

Merkel said their cynical swindle was an affront to honest people.

"For people who go to work each day and earn an honest living, this kind of thing is very hard to take," she said Friday on the sidelines of a European Union summit in Brussels. "It's impossible to stomach."

Merkel remarked that the Irish bankers' conduct was damaging democracy, discouraging decision-makers from supporting European partners that ask for financial help.

The deputy leader of Merkel's Christian Democratic Union party described the recordings as "unbearable".

"We are offended. If you have a feeding hand you shouldn't bite into it [sic]," Michael Fuchs told RTE radio.

Irish officials promised to launch a state investigation into the actions of Anglo Irish Bank.

"I mean the degree of arrogance, the degree of hubris, the degree of couldn't-care-less-about-the-taxpayer, about the Irish people, that seemed to be part and parcel of the culture of that bank," Deputy Prime Minister Eamon Gilmore said.

He added that the disgraceful phone recordings could 'complicate' Dublin's negotiations in receiving crisis-relief funds.

The parliament’s plan is to use 500 billion euro of the bailout money to recapitalize the country's banks. The recent scandal may derail this vision.

“It makes it more difficult, of course it does, but we’re going to continue to work to get the best possible outcome for the Irish taxpayer,” Gilmore remarked.

Angela Merkel Reveals Plot #5 Broken Up By NSA Surveillance

She knows NSA does surveillance. Little fuzzy on dates & places. Having trouble deciding whose money is hers. Not a reliable witness.

Jun. 19, 2013. Disclosures about [USA] National Security Agency (NSA) surveillance programs leapfrogged the Atlantic to Germany: “... at least 50 threats that have been averted... in some cases here in Germany” Mr. Obama said during the news conference. “So....” No details.

But Mrs. Merkel, who acknowledged that Germany has received “very important information” from the United States, cited the so-called “Sauerland cell” as an example of such anti-terrorism intelligence cooperation.

"Sauerland cell" is example #5 of terrorist plots broken up via NSA surveillance? Opps. That was 2006. The plot thinkens with age? Wonder how many of them have been broken up recently? Cracked with age?

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Thanks for the additional info, DI!

I wonder, however: just what exactly will Merkel *do*? Yeah, she's bitching about it (which is what she must do to comfort the German public [per Rudimentary Politics 101]), but then what? Isn't she just another NWO stooge? Or is Germany's being hung out to dry getting her revved up to do right? I don't know enough about her, really. Just curious.

What would the Founders do?

You are so right

She is covering her on butt because it is her and her alone that is giving the German people's money away. The standard of living for your average German is taking a pounding.