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(RTE Ireland)   Ireland's new strategy to deal with financial crisis: Start arresting bankers   (rte.ie) divider line 66
    More: Spiffy, crisis, Anglo Irish Bank, Dublin Airport, investigation, criminal justice, fake  
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8434 clicks; posted to Main » on 24 Jul 2012 at 1:16 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-24 01:17:51 PM
The USA could take some lessons on this.
 
2012-07-24 01:17:57 PM
Now if only we would get the balls to do this in the US.
 
2012-07-24 01:18:35 PM
I support this idea. Let's implement it globally.
 
2012-07-24 01:18:40 PM
Too bad that could never happen in America
 
2012-07-24 01:18:44 PM
 
2012-07-24 01:19:08 PM
I like it!
 
2012-07-24 01:19:56 PM
I concur.
 
2012-07-24 01:20:05 PM
is his first name pronounced Shin-Head too?
 
2012-07-24 01:20:06 PM
NSFW language in my post above btw ^ ^^ ^
 
2012-07-24 01:21:33 PM
A free market should have risks as well as rewards.
 
2012-07-24 01:21:46 PM
upload.wikimedia.org

I don't understand how banking, which is basically just manipulating a bunch of numbers, requires so many people. Shouldn't computers replace these obsolete jobs? Oh sorry that's for the little people.
 
2012-07-24 01:23:41 PM
What's this I hear about Iceland arresting bankers?
 
2012-07-24 01:24:24 PM
Damn socialist yuropeanz

oh wait this about Ireland .... lol
 
2012-07-24 01:24:25 PM

hammettman: They must have listened to this guy


Nice. I love the Irish!
 
2012-07-24 01:25:24 PM
For once, the Irish are setting a good example.

/Parents were from county Cavan
//I am not
 
2012-07-24 01:25:39 PM
Ireland's problem is that they swallowed the 'trickle down' kool aid.

No regulation means a boom / bust economy. This is pretty much hell for 90% of the population and a recipe for failure for a country. A few rich assholes really make out though.
 
2012-07-24 01:26:27 PM
I thought the accepted norm was to throw shiat piles of money at them until the problem went away.

I don't understand finance.
 
2012-07-24 01:27:25 PM
What a novel approach to crime fighting actually arrest a criminal
 
2012-07-24 01:28:50 PM
'Bout farking time.
 
2012-07-24 01:28:54 PM
upload.wikimedia.org

/hotlink
 
2012-07-24 01:31:18 PM
So he, as the bank, lent money to people so they could buy shares in the bank? Did this happen just prior to some merger or event that raised the value of those stocks, like insider trading?
 
2012-07-24 01:33:55 PM

Quantum Apostrophe: I don't understand how banking, which is basically just manipulating a bunch of numbers, requires so many people. Shouldn't computers replace these obsolete jobs? Oh sorry that's for the little people


Honest banking could be done entirely by computers. Ripping off the world's financial system requires human creativity.
 
2012-07-24 01:34:27 PM

hammettman: They must have listened to this guy


That guy is my new hero.
 
2012-07-24 01:34:52 PM
Having just read the piece - not as cool as lead to believe.
 
2012-07-24 01:35:03 PM
Mwelp, there's a point for them Irish.
 
2012-07-24 01:35:34 PM
'bout time sopmebody did....
 
2012-07-24 01:36:57 PM
Iceland did it right and Ireland's not too far off from Iceland.
 
2012-07-24 01:38:37 PM

FloydA: hammettman: They must have listened to this guy

That guy is my new hero.


He's an actor.

Aquaman has always been my hero.
 
2012-07-24 01:39:11 PM
This wouldn't work here. The bankers would just buy the courts and then short them.
 
2012-07-24 01:42:50 PM

jaybeezey: So he, as the bank, lent money to people so they could buy shares in the bank? Did this happen just prior to some merger or event that raised the value of those stocks, like insider trading?


I think it was the problem of having the shares purchased using loans from the bank. If the value of the bank went up it would all be good, but if it decreases, which it did, the bank has no collateral to call in.
 
2012-07-24 01:46:44 PM
He covered up the bank's whopping debts and tried to plug it up with illegal loans from people he had given illegal loans to in the past. When that failed he got a bailout from our government while STILL covering just how massive the losses were, because he couldn't let auditors look at their actual accounts without having them notice all the shady deals. Then the bank fell, setting off a crisis and losing us a big chunk of tax money. That's a pretty huge deal, especially in a welfare state like ours.

Anglo is our Enron. It's the poster child for corporate greed and shiatty economics screwing the people. If you want a look at just how angry some are, Google "cementgate"
 
2012-07-24 01:47:10 PM

JackieRabbit: This wouldn't work here. The bankers would just buy the courts and then short them.


This is the problem with trying to police the rich and powerful. On the one hand they are above the law; On the other hand the only way to hold them accountable is a popular uprising. The law is in their pockets.
 
2012-07-24 01:48:17 PM
imokaywiththis.jpg
 
2012-07-24 01:51:37 PM
Worked out in Iceland... and now Ireland's doing it. Fecking awesome!
 
2012-07-24 01:55:12 PM
Arresting a guy nearly 4 years after the offences are committed while he enjoys a transatlantic lifestyle is hardly anything to be congratulated on. He should have been hauled in front of government committees the minute all this shiat went down so at the very least they could have done him sooner for perjury. It was also the last governments "hands off" approach to financial regulation which caused this disaster to reach the magnitudes it did in the first place. Anglo Irish and the Quinn Group were pushing numbers around to cook the books and proper oversight would have caught it a lot sooner or prevented it happening at all.
 
2012-07-24 01:55:43 PM
I hope this catches on. Well done Ireland
 
2012-07-24 01:58:39 PM
I'm ok with this. Let's start doing that here. In fact, I'd be happy if we could shift all the people working in the DEA over to the SEC, FDIC, OCC, and all the other regulatory agencies for the financial industry.
 
2012-07-24 02:03:53 PM
I'm cautiously optimistic at best.

First account of this I heard on the radio mentioned it's like the third time they've tried to stick him with something...
 
2012-07-24 02:08:18 PM
Where's your pot of gold now. FitzPatrick?
 
2012-07-24 02:11:22 PM

sdd2000: The USA could take some lessons on this.


Done in 1.
 
2012-07-24 02:14:19 PM
If they raffled off positions on the firing squads, it'd be nice for the budget...
 
2012-07-24 02:14:41 PM
First thing we do is kill all the lawyers arrest all the bankers!
 
2012-07-24 02:22:10 PM
bobcargill.files.wordpress.com
 
2012-07-24 02:23:14 PM
I'd be more on board if we -

thepeoplescube.com

Ate The Rich
 
2012-07-24 02:24:53 PM
That is the greatest interview i have ever seen and thanks fo putting it up
 
2012-07-24 02:27:37 PM
.VGA Hole For once, the Irish are setting a good example.

/Parents were from county Cavan
//I am not

And just what do you mean by "for once"
Parent from dublin
 
2012-07-24 02:46:07 PM

Marcintosh: I'd be more on board if we -

[thepeoplescube.com image 300x225]

Ate The Rich


There will probably become a time that we don't have much choice. It will be them or nothing. One giant gated community and the rest of us circling it like the Road Warrior refinery.
 
2012-07-24 03:00:00 PM

Quantum Apostrophe: [upload.wikimedia.org image 220x259]

I don't understand how banking, which is basically just manipulating a bunch of numbers, requires so many people. Shouldn't computers replace these obsolete jobs? Oh sorry that's for the little people.


Oh, no. You have it completely wrong.

Go visit a casino. See all those dealers, pit bosses and floor managers?

You have to have a lot of people to run a gambling operation. This isn't just storing and lending money. This is placing complicated bets that don't benefit anyone but the people making them.

membres.multimania.fr
 
2012-07-24 03:32:51 PM
Hey, come on now, the Feds are serious about financial crimes, Martha Stewart went to jail, didn't she?
 
2012-07-24 03:44:06 PM

Pincy: Now if only we would get the balls to do this in the US.


Well, you (the USA) did sentence Bernard Madoff to spend the rest of his life in prison, so when we (in Ireland) have discussions in the pub about white collar crime, the USA is usually used as an example of how that type of crime should be treated.

The most this wanker will get (if we're lucky) is five years. He'll probably get to keep his pension too.
 
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