Classic wastes of public money in the last few years?

[The_Runt]

@farmerinthecity

Holy Jaysus.

:o

That’s the equivalent of 17,000,000 cola bottles.

Well, I think it might actually be the equivalent of 850,000 cola bottles as they rose to 2c following the euro changeover.

[Watch_The_Break]

@The Runt

Well, I think it might actually be the equivalent of 850,000 cola bottles as they rose to 2c following the euro changeover.

When you think about how those cola bottles would have changed people’s lives. A whole generation cheated.

[farmerinthecity]

@KIB man

farmer yeah I take the point of the EU getting involved. the european central bank kept us away from the IMF so felt they could probably justifiably call the shots as a result. In any case there is no doubt that NAMA is an unprecedented waste of taxpayers money. Nothing will ever come close.

The timeline in the run up to the guarantee was incredible. You had Neary the cunt saying that he had no worries about Anglo days before the guarantee. The guy hadn’t a clue, or else didn’t want to know.

Banks, more so than any industrial sector, have a social responsibility to act prudently. They are the foundations that an economy is built on. Part of this responsibility requires stingent regulation and ultimately that is what failed. You can argue and call Fitzpatrick et al cunts but it is like everything, there are cunts out there but there needs to be a system in place in order to have rules so that they can’t just do what they like.

Speaking personally, a huge issue that needs to be addressed is that of the role of the auditors. Firms getting paid thousands specifically to audit liquidity returns to the Regulator which probably results in a junior, unqualified member of staff doing much of the work. Crazy stuff. In other cases, information may just be provided a day before the deadline for sign off and it is rushed through the night and signed off because the partner does not want to lose the client. And then at the head of it all is self regulators in the Institute. It’s a joke.

E&Y fucked up hugely on Anglo. What happened? They weren’t brought before the committee to answer questions and now their advice is being sought on what to do with Nationwide. Incredible.

[Julio_Geordio]

@KIB man

1 - the whole country is fucked for generations

2 - id have merged the two banks and given carte blanche to a management team of the likes of Elderfield to cut costs wherever necessary. They wouldnt be bloated prob would have resulted in thousands of job losses but short term pain was necessary. The state running this super bank would only be a temporary measure, with the competition authority blessing they would try to attract a buyer such as Santander or one of those to come in and run it. Irish permanent, Acc, ulster etc would still be around

3 - without the invisible hand of the State getting involve - Anglo, irish nationwide, BOI and AIB were bust. We have bankrupt the country keeping them afloat. the country is bust now anyway. They should just have been liquidated (Anglo and Irish nationwide) - other two merged. Every company and person wouldnt have gone bankrupt but a lot more than Seanie Fitz who deserve their day out in the commercial court are being let away with it to the detriment of the country as a whole. We would have reached rock bottom faster and been in a better position to climb out of the mess as a result. Instead of lobbing 10bn at Anglo like you would lob a shit into a jacks and flushed away, that money could have been spent on a high speed national broadband network or other infrastructure projects that would return something.

farmer yeah I take the point of the EU getting involved. the european central bank kept us away from the IMF so felt they could probably justifiably call the shots as a result. In any case there is no doubt that NAMA is an unprecedented waste of taxpayers money. Nothing will ever come close.

1. I suppose you believe in Global Warming as well.

2. What would you do with the bondholders? Screw them?

3. I’ll answer this when you answer the first two as they are linked.

[Watch_The_Break]

@farmerinthecity

The timeline in the run up to the guarantee was incredible. You had Neary the cunt saying that he had no worries about Anglo days before the guarantee. The guy hadn’t a clue, or else didn’t want to know.

Banks, more so than any industrial sector, have a social responsibility to act prudently. They are the foundations that an economy is built on. Part of this responsibility requires stingent regulation and ultimately that is what failed. You can argue and call Fitzpatrick et al cunts but it is like everything, there are cunts out there but there needs to be a system in place in order to have rules so that they can’t just do what they like.

Speaking personally, a huge issue that needs to be addressed is that of the role of the auditors. Firms getting paid thousands specifically to audit liquidity returns to the Regulator which probably results in a junior, unqualified member of staff doing much of the work. Crazy stuff. In other cases, information may just be provided a day before the deadline for sign off and it is rushed through the night and signed off because the partner does not want to lose the client. And then at the head of it all is self regulators in the Institute. It’s a joke.

E&Y fucked up hugely on Anglo. What happened? They weren’t brought before the committee to answer questions and now their advice is being sought on what to do with Nationwide. Incredible.

Ultimate responsibility should lay with the politicians, in particular the people who made up the cabinet over the last ten years. Fianna Fail as a party should be buried for a generation. Instead they’ll probably be the second biggest party after the next election.

[Julio_Geordio]

@Watch The Break

Ultimate responsibility should lay with the politicians, in particular the people who made up the cabinet over the last ten years. Fianna Fail as a party should be buried for a generation. Instead they’ll probably be the second biggest party after the next election.

They will be erecting statues to Brian Lenihan in a few years and he will be deserving of them.

[farmerinthecity]

Bertie’s statement about how he wondered how the sceptics on the economy don’t kill themselves is about the most outrageous I have heard.

[Julio_Geordio]

@farmerinthecity

The timeline in the run up to the guarantee was incredible. You had Neary the cunt saying that he had no worries about Anglo days before the guarantee. The guy hadn’t a clue, or else didn’t want to know.

Banks, more so than any industrial sector, have a social responsibility to act prudently. They are the foundations that an economy is built on. Part of this responsibility requires stingent regulation and ultimately that is what failed. You can argue and call Fitzpatrick et al cunts but it is like everything, there are cunts out there but there needs to be a system in place in order to have rules so that they can’t just do what they like.

Speaking personally, a huge issue that needs to be addressed is that of the role of the auditors. Firms getting paid thousands specifically to audit liquidity returns to the Regulator which probably results in a junior, unqualified member of staff doing much of the work. Crazy stuff. In other cases, information may just be provided a day before the deadline for sign off and it is rushed through the night and signed off because the partner does not want to lose the client. And then at the head of it all is self regulators in the Institute. It’s a joke.

E&Y fucked up hugely on Anglo. What happened? They weren’t brought before the committee to answer questions and now their advice is being sought on what to do with Nationwide. Incredible.

The idea that the audit is paid for by the person getting the audit and that they can pick who does the audit is the most bizarre concept of all time.

[Julio_Geordio]

Double post

[Sidney]

Every time these cunts are mentioned in the media they should have the tag “who is known to Gardai” attached to their names. Eg Sean Fitz[size=“5”]P[/size]atrick, who is known to Gardai. Ray Burke, who is known to Gardai. Liam Lawlor, who was known to Gardai.

[Julio_Geordio]

@The Runt

Well, I think it might actually be the equivalent of 850,000 cola bottles as they rose to 2c following the euro changeover.

Without being too pedantic Runt that would only cost €17,000. B)

[farmerinthecity]

@Julio Geordio

The idea that the audit is paid for by the person getting the audit and that they can pick who does the audit is the most bizarre concept of all time.

[The_Runt]

@Julio Geordio

Without being too pedantic Runt that would only cost €17,000. B)

I think I left out a zero?

[The_Runt]

@Julio Geordio

The idea that the audit is paid for by the person getting the audit and that they can pick who does the audit is the most bizarre concept of all time.

And add in the fact the auditors will make assumptions based on the information provided to them by the company being audited and it’s gets even more ridiculous.

[farmerinthecity]

@The Runt

I think I left out a zero?

A half of 17m is 8.5m.

That’s how much Stan Collymore cost Liverpool.

So Stan Collymore cost the same as a bus stop?

I’m confused.

:huh:

[Sidney]

@farmerinthecity

E&Y fucked up hugely on Anglo. What happened? They weren’t brought before the committee to answer questions and now their advice is being sought on what to do with Nationwide. Incredible.

Aren’t failed developers now going to be given salaried positions within NAMA for their expertise? Also isn’t John Mulcahy the guy who valeued the Irish Glass Bottle Site at E400m doing valuations for NAMA? :o :lol:

[farmerinthecity]

@sid waddell

Aren’t failed developers now going to be given salaried positions within NAMA for their expertise? Also isn’t John Mulcahy the guy who valeued the Irish Glass Bottle Site at E400m doing valuations for NAMA? :o :lol:

KIB’s mate McNamara is looking for a 300k salary off them.

[Julio_Geordio]

@The Runt

I think I left out a zero?

Indeed you did Runt, indeed you did.

[Julio_Geordio]

@farmerinthecity

A half of 17m is 8.5m.

That’s how much Stan Collymore cost Liverpool.

So Stan Collymore cost the same as a bus stop?

I’m confused.

:huh:

8.5million multiplied by two cent is €170,000.

And you giving out about Auditors above :lol:

[farmerinthecity]

@Julio Geordio

8.5million multiplied by two cent is €170,000.

And you giving out about Auditors above :lol:

Huh?

I know that.

I was correcting Runt’s error and then went off on a bit of a tangent.