http://www.zerohedge.com/article/irishman-speaks-his-mind
A true spokesman for "the Peoples" opinion.
Somehow we think the distinguished Irish gentleman will not make it on CNBC: in under two minutes he explains everything there is to know about modern kleptocratic ponzinomics.
Showing posts with label Ireland. Show all posts
Showing posts with label Ireland. Show all posts
Thursday, December 9, 2010
Monday, November 22, 2010
Rothschild Bank AND Goldman Sachs Are Both On The LIST Of Bondholders Getting U.S. Taxpayer Billions In Irish Bailout
http://blacklistednews.com/Rothschild-Bank-AND-Goldman-Sachs-Are-Both-On-The-LIST-Of-Bondholders-Getting-U.S.-Taxpayer-Billions-In-Irish-Bailout/11597/0/24/24/Y/M.html
Check out who is on the list, it will make you puke.
Enough is enough.
Bonds fail that's life, the taxpayers of every nation are not the banks payers of last resort!
I think we're all quite sick of picking up their tab.
U.S. taxpayers finance approximately 20% of the IMF's budget.
Guess what, Ireland. Brian Lenihan and Brian Cowen just sold you down the IMF river. Why? To bail out bank bondholders and giant European banks. Of course! That's what governments are for these days, apparently. And they'll tell you that the bailout policy is all for you own good. And for little old ladies and pensioners and orphans. Just don't tell that to the cancer patients.
Yep, another nation made IMF debt slaves on behalf of the international banking cartels. And Goldman Sachs and Rothschild & Compagnie are on the list.
Check it out below -- Guido Fawkes' blog has acquired the list of Anglo-Irish Bank's bondholders.
##
From Guido Fawke...
Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators.
•The Irish people are taking losses that should rightly have been shouldered by bondholders.
Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults.
•That is the risk investors take.
So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about:
Check out who is on the list, it will make you puke.
Enough is enough.
Bonds fail that's life, the taxpayers of every nation are not the banks payers of last resort!
I think we're all quite sick of picking up their tab.
U.S. taxpayers finance approximately 20% of the IMF's budget.
Guess what, Ireland. Brian Lenihan and Brian Cowen just sold you down the IMF river. Why? To bail out bank bondholders and giant European banks. Of course! That's what governments are for these days, apparently. And they'll tell you that the bailout policy is all for you own good. And for little old ladies and pensioners and orphans. Just don't tell that to the cancer patients.
Yep, another nation made IMF debt slaves on behalf of the international banking cartels. And Goldman Sachs and Rothschild & Compagnie are on the list.
Check it out below -- Guido Fawkes' blog has acquired the list of Anglo-Irish Bank's bondholders.
##
From Guido Fawke...
Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators.
•The Irish people are taking losses that should rightly have been shouldered by bondholders.
Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults.
•That is the risk investors take.
So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about:
Monday, October 4, 2010
Bono Partner McKillen's Suit May Hold Key for Anglo Irish Loans
http://www.bloomberg.com/news/2010-10-04/bono-partner-mckillen-s-lawsuit-may-hold-key-to-14-billion-in-u-s-loans.html
Oh wow, this is what they want to fleece the people or Ireland for.
More crap real estate, the real kicker is that it's all in the US.
Not 1 dime of that 69 billion that they are asking the Irish people to fork over is in anyway going to help them at all.
It's time for a real world change people by and for the common man.
Because the elite don't know what the hell their doing, but then again maybe they do, Lining their own pockets while billing it to the people.
When Dublin property investor Patrick McKillen bought a 21-story Boston office tower for $170 million in 2006, his lender, Anglo Irish Bank Corp., helped find an anchor tenant: itself.
Now McKillen, Anglo Irish and its U.S. headquarters at 265 Franklin St. are entangled in a lawsuit that may determine how the bank, seized by the Irish government last year, handles more than $14 billion of debt backed by U.S. property. The bank’s loans are tied to buildings including a Rodeo Drive shopping mall in Beverly Hills, California, and the century-old Apthorp apartment building on New York’s Upper West Side.
“Anglo Irish ramped up its U.S. lending and has a book of loans that would be very appealing to real estate opportunity funds,” said Ben Thypin, an analyst at Real Capital Analytics Inc. in New York. “Big real estate players have tried to pursue purchasing Anglo’s assets but have been tripped up by uncertainty around who is actually in control: the bank or NAMA.”
McKillen’s suit against Ireland’s National Asset Management Agency -- itself a tenant of his in Dublin -- adds to the financial chaos surrounding the bailout of the nation’s banks. The government said last week that it will take control of Allied Irish Banks Plc, the second-biggest lender, and inject extra cash into Anglo Irish, pushing the cost of the rescue to as much as 50 billion euros ($69 billion). A hearing on whether the case may proceed is set for
Oh wow, this is what they want to fleece the people or Ireland for.
More crap real estate, the real kicker is that it's all in the US.
Not 1 dime of that 69 billion that they are asking the Irish people to fork over is in anyway going to help them at all.
It's time for a real world change people by and for the common man.
Because the elite don't know what the hell their doing, but then again maybe they do, Lining their own pockets while billing it to the people.
When Dublin property investor Patrick McKillen bought a 21-story Boston office tower for $170 million in 2006, his lender, Anglo Irish Bank Corp., helped find an anchor tenant: itself.
Now McKillen, Anglo Irish and its U.S. headquarters at 265 Franklin St. are entangled in a lawsuit that may determine how the bank, seized by the Irish government last year, handles more than $14 billion of debt backed by U.S. property. The bank’s loans are tied to buildings including a Rodeo Drive shopping mall in Beverly Hills, California, and the century-old Apthorp apartment building on New York’s Upper West Side.
“Anglo Irish ramped up its U.S. lending and has a book of loans that would be very appealing to real estate opportunity funds,” said Ben Thypin, an analyst at Real Capital Analytics Inc. in New York. “Big real estate players have tried to pursue purchasing Anglo’s assets but have been tripped up by uncertainty around who is actually in control: the bank or NAMA.”
McKillen’s suit against Ireland’s National Asset Management Agency -- itself a tenant of his in Dublin -- adds to the financial chaos surrounding the bailout of the nation’s banks. The government said last week that it will take control of Allied Irish Banks Plc, the second-biggest lender, and inject extra cash into Anglo Irish, pushing the cost of the rescue to as much as 50 billion euros ($69 billion). A hearing on whether the case may proceed is set for
Sunday, October 3, 2010
The Irish aren't smiling as the eye their corrupt elite
http://www.guardian.co.uk/world/2010/oct/02/irish-eye-their-corrupt-elite
Ireland seems to have the same problem that America has, the corporate elite are catered to at the expense of her taxpayers, who are just supposed to keep coughing up cash with no explanation as to where it's going at all.
For some reason the financial elite seem to think because they are the "advisers" of the President, they know what's best to run the country.
And what's best is always in "Their" favor at the expense of "our" ass.
This is a "world wide" phenomena that has turned into a way of global governance.
How does funding a no branch bank help the Irish taxpayer? And why should they be expected to do it at all? Their not even privy as to why it needs to be done, let alone what the damned bank is for.
Many thanks for calling it like it is in your editorial (1 October) on the Irish economic collapse. The Irish government has got it wrong again, but the clue to why is not in the "dozy government" line. It is hidden in your quote that "the elite directing the Irish economy is more tightly closed than an oyster shell". Ireland operates like a one-party state and the government is just the political wing of that elite comprising developers, bankers and newspaper owners, with a whole network of vested interests descending into almost every corner of the Irish state and economic life.
Of the €50bn of taxpayers money now committed to bail out the disastrous gamblers of the Irish banking system, nearly four-fifths of that sum is going into one bank, Anglo Irish. This bank has no high-street branches and so no claim to be part of the essential infrastructure of the country. And it is a bank which economic advisers have consistently told the government not to include in the blanket bank guarantee, because the scale and rottenness of its debt will surely bring the whole house of cards down.
So why is the government so interested in this bank? There is absolutely no transparency. No minutes of key meetings, or of the workings of the National Asset Management Agency (Nama), which is managing bank debts for the government, have seen the light of day. In fact it is in the Nama legislation that its workings can't be disclosed and that staff who speak about their work will be subject to criminal proceedings. Neither will key ministers answer questions about any personal investments in this bank. Could it be that the majority of investors in Anglo Irish are the same elite who also control the government? Cock-up or conspiracy?
Ireland seems to have the same problem that America has, the corporate elite are catered to at the expense of her taxpayers, who are just supposed to keep coughing up cash with no explanation as to where it's going at all.
For some reason the financial elite seem to think because they are the "advisers" of the President, they know what's best to run the country.
And what's best is always in "Their" favor at the expense of "our" ass.
This is a "world wide" phenomena that has turned into a way of global governance.
How does funding a no branch bank help the Irish taxpayer? And why should they be expected to do it at all? Their not even privy as to why it needs to be done, let alone what the damned bank is for.
Many thanks for calling it like it is in your editorial (1 October) on the Irish economic collapse. The Irish government has got it wrong again, but the clue to why is not in the "dozy government" line. It is hidden in your quote that "the elite directing the Irish economy is more tightly closed than an oyster shell". Ireland operates like a one-party state and the government is just the political wing of that elite comprising developers, bankers and newspaper owners, with a whole network of vested interests descending into almost every corner of the Irish state and economic life.
Of the €50bn of taxpayers money now committed to bail out the disastrous gamblers of the Irish banking system, nearly four-fifths of that sum is going into one bank, Anglo Irish. This bank has no high-street branches and so no claim to be part of the essential infrastructure of the country. And it is a bank which economic advisers have consistently told the government not to include in the blanket bank guarantee, because the scale and rottenness of its debt will surely bring the whole house of cards down.
So why is the government so interested in this bank? There is absolutely no transparency. No minutes of key meetings, or of the workings of the National Asset Management Agency (Nama), which is managing bank debts for the government, have seen the light of day. In fact it is in the Nama legislation that its workings can't be disclosed and that staff who speak about their work will be subject to criminal proceedings. Neither will key ministers answer questions about any personal investments in this bank. Could it be that the majority of investors in Anglo Irish are the same elite who also control the government? Cock-up or conspiracy?
Friday, October 1, 2010
Ireland reveals full horror of banking crisis
http://www.abc.net.au/news/stories/2010/10/01/3026943.htm
Bailing out the banks isn't working for anyone, except the banks.
The Irish government looks set to ramp up the bailouts of two major banks, Anglo Irish and Allied Irish, which almost went to the wall when Ireland's property bubble burst.
Taxpayers are being left with the bill and deeper austerity measures, but the government says the banks are too big to fail.
Overnight taxpayers learnt they will be shouldering an even bigger burden to bail out the Anglo Irish Bank - to the tune of $41 billion.
"The banks have actually got us into this mess. They should actually get us out," one person said.
"It is too shocking when you see people still on the side of the road homeless and yet there were these people smoking their big cigars and yachts out in the Mediterranean," another said.
With unemployment at a record high of 14 per cent, Macdara Doyle, from the Irish Congress of Trade Unions, says citizens cannot afford the bailout bill.
"We started out at this place two years ago with what we were told was the cheapest bank guarantee or bank rescue scheme in the world," Mr Doyle said.
"[It] then went to $4 billion. It is now at about $29 billion or $34 billion depending on what scenario you believe. It is not working. It is killing the economy."
Bailing out the banks isn't working for anyone, except the banks.
The Irish government looks set to ramp up the bailouts of two major banks, Anglo Irish and Allied Irish, which almost went to the wall when Ireland's property bubble burst.
Taxpayers are being left with the bill and deeper austerity measures, but the government says the banks are too big to fail.
Overnight taxpayers learnt they will be shouldering an even bigger burden to bail out the Anglo Irish Bank - to the tune of $41 billion.
"The banks have actually got us into this mess. They should actually get us out," one person said.
"It is too shocking when you see people still on the side of the road homeless and yet there were these people smoking their big cigars and yachts out in the Mediterranean," another said.
With unemployment at a record high of 14 per cent, Macdara Doyle, from the Irish Congress of Trade Unions, says citizens cannot afford the bailout bill.
"We started out at this place two years ago with what we were told was the cheapest bank guarantee or bank rescue scheme in the world," Mr Doyle said.
"[It] then went to $4 billion. It is now at about $29 billion or $34 billion depending on what scenario you believe. It is not working. It is killing the economy."
Thursday, August 26, 2010
UK bank accounting rules 'fatally flawed', warns influential watchdog
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7964816/UK-bank-accounting-rules-fatally-flawed-warns-influential-watchdog.html
I believe they followed standard methods applied by all of the banks.
Remember repo 105?
An influential watchdog has written to the Department of Business listing a catalogue of staggering regulatory errors that allegedly contributed to the collapse of several banks in 2008 – and still threatens the system today.
While reviewing the proposed expansion of the International Financial Reporting Standards for accounting, Tim Bush, a member of the “Urgent Issues Task Force” that scrutinises the work of the Accounting Standards Board (ASB), claims to have uncovered “fatal” and “dangerous” flaws in the system.
'The City veteran has argued that applied to banks, the standards “produced false profits and overstated capital” which have “misled creditors, misled shareholders, the Bank of England, FSA and others”.
In a devastating assessment, Mr Bush alleges the regulations, and specifically the way they have been implemented in the UK and Ireland, have led to “mistakes [being made] of such severity that it is difficult to overstate”.
I believe they followed standard methods applied by all of the banks.
Remember repo 105?
An influential watchdog has written to the Department of Business listing a catalogue of staggering regulatory errors that allegedly contributed to the collapse of several banks in 2008 – and still threatens the system today.
While reviewing the proposed expansion of the International Financial Reporting Standards for accounting, Tim Bush, a member of the “Urgent Issues Task Force” that scrutinises the work of the Accounting Standards Board (ASB), claims to have uncovered “fatal” and “dangerous” flaws in the system.
'The City veteran has argued that applied to banks, the standards “produced false profits and overstated capital” which have “misled creditors, misled shareholders, the Bank of England, FSA and others”.
In a devastating assessment, Mr Bush alleges the regulations, and specifically the way they have been implemented in the UK and Ireland, have led to “mistakes [being made] of such severity that it is difficult to overstate”.
Sunday, April 25, 2010
Fight the Derivatives Cancer with a Wall Street Sales Tax, Plus Bans on Hedge Funds, Credit Default Swaps, and Synthetic CDOs
http://tarpley.net/2010/04/25/fight-the-derivatives-cancer-with-a-wall-street-sales-tax-plus-bans-on-hedge-funds-credit-default-swaps-and-synthetic-cdos/
As a country that wishes to maintain our sovereignty we can no longer afford to overlook our own downfall, because it's plainly staring us in the face.
The games of speculation that the rich play behind the curtain place no value on human life. It's all only about the numbers in dollar signs and they create those numbers anyway they can and use our lives to do with as well as to bail them out when they fail. They only live because "WE" let them.
It's time to end this game before it ends all of us. As "the world's people", "WE" owe it to our selves.
The urgent problem raised by all this is the $1.5 quadrillion derivatives bubble. The financial crisis which struck the United States and the world in September and October 2008 was in fact a world a derivatives panic. This panic marked the first phase of a world economic depression caused by derivatives speculation. The second phase of this depression, which is now beginning, can also be attributed in large part to derivatives, since derivatives are the main tool being used in the speculative attacks on Greece, Spain, Portugal, Italy, Ireland, and other nations, building up towards a chaotic collapse of the euro.
Derivatives are the Cause of the World Depression of Our Time
Far from being some arcane or marginal activity, financial derivatives have come to represent the principal business of the financier oligarchy in Wall Street, the City of London, Frankfurt, and other money centers. A concerted effort has been made by politicians and the news media to hide and camouflage the central role played by derivative speculation in the economic disasters of recent years. Journalists and public relations types have done everything possible to avoid even mentioning derivatives, coining phrases like “toxic assets,” “exotic instruments,” and – most notably – “troubled assets,” as in Troubled Assets Relief Program or TARP, aka the monstrous $800 billion bailout of Wall Street speculators which was enacted in October 2008 with the support of Bush, Henry Paulson, John McCain, Sarah Palin, and the Obama Democrats.
As a country that wishes to maintain our sovereignty we can no longer afford to overlook our own downfall, because it's plainly staring us in the face.
The games of speculation that the rich play behind the curtain place no value on human life. It's all only about the numbers in dollar signs and they create those numbers anyway they can and use our lives to do with as well as to bail them out when they fail. They only live because "WE" let them.
It's time to end this game before it ends all of us. As "the world's people", "WE" owe it to our selves.
The urgent problem raised by all this is the $1.5 quadrillion derivatives bubble. The financial crisis which struck the United States and the world in September and October 2008 was in fact a world a derivatives panic. This panic marked the first phase of a world economic depression caused by derivatives speculation. The second phase of this depression, which is now beginning, can also be attributed in large part to derivatives, since derivatives are the main tool being used in the speculative attacks on Greece, Spain, Portugal, Italy, Ireland, and other nations, building up towards a chaotic collapse of the euro.
Derivatives are the Cause of the World Depression of Our Time
Far from being some arcane or marginal activity, financial derivatives have come to represent the principal business of the financier oligarchy in Wall Street, the City of London, Frankfurt, and other money centers. A concerted effort has been made by politicians and the news media to hide and camouflage the central role played by derivative speculation in the economic disasters of recent years. Journalists and public relations types have done everything possible to avoid even mentioning derivatives, coining phrases like “toxic assets,” “exotic instruments,” and – most notably – “troubled assets,” as in Troubled Assets Relief Program or TARP, aka the monstrous $800 billion bailout of Wall Street speculators which was enacted in October 2008 with the support of Bush, Henry Paulson, John McCain, Sarah Palin, and the Obama Democrats.
Monday, December 14, 2009
Karl Denninger
http://market-ticker.denninger.net/
Karl is on a roll today and I couldn't decide on my favorite article, so I brought them all and will leave you to decide your own preference.
Karl is on a roll today and I couldn't decide on my favorite article, so I brought them all and will leave you to decide your own preference.
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