Fraud Squad Raids Anglo-Irish Bank

So the cops have finally moved in to Anglo. Not bad going. It only took them six months to raid a bank that the whole world knew was a front for global fraud and economic treason.

Only six months.

I see the rats are starting to desert the ship. Last night on Q&A, we heard Minister Sawdust-for-Brains Dempsey Cullen talk about economic treason. [Typo: My mistake]

Now where did I hear it called treason before?

Oh right. It was here, on this site, back in December. Nice one, Minister Cullen. Glad to know you’re a fan, even if you are a slow reader.

The recriminations and in-fighting begin as this useless government starts to crumble and they all try to stay out of jail.

How long before we hear them questioning Ahern’s role in the whole sorry mess?

28 thoughts on “Fraud Squad Raids Anglo-Irish Bank

  1. I read today that Cowen had a private luncheon with the top brass at anglo when they were trying to organise a consortium to invest in the banks shares.

    I wonder how high this will go….

  2. I always knew the Government were a sporting bunch.

    I mean, giving Anglo a six-month head start to shred all the documents before they sent the po-lice a-knocking.

    Good sports, all of them.

  3. don’t mean to be picking up on minor detail bock but wasn’t martin cullen and not dempsey on Q & A last night

  4. But Biffo can now kick for touch on questions as will claim it would prejudice an ongoing case…oh the snake……….

  5. Good stuff obviously and fair dues to you for being upfront and open about their treasonous carry-on. Not too many would have been as brazen with it back then.
    I can’t figure out these things half of the time so just as well you can.

  6. Its good that they have gone in even if it is late.

    However, other things are moving a pace. AIB & BOfI could be nationalised by the end of March.

    Their CDS Rates have balloned to 1050. Sorry for the financial gobbledegook Bock. But it is important.

    When AIB or BOfI go to refinance their massive debt the insurance permium against default is now 10.5%.

    For every billion of refinancing, and there are many billions, over the next few months, those providing finance will have to pay a premium of €105m per €Bn.

    I think AIB & BofI have run out of road.

  7. Note to our criminal fraternity. Now would not be a good day to walk into Anglo Irish with a sawn off and a withdrawal note. The place is crawling with PC O’Plods.

    Meantime, as for suggestions that the government are using the Gardai as a political instrument? This is the Rep of Ireland not some South American junta. Our security forces are independent. Show some pride in your country.

  8. Where is Paul Williams and the other “crime correspodents”? Or do people in suits and ties not commit crime?

  9. I can’t find the specific figures but I think the premium “agreed” (has it been paid yet?) when Lenihan guaranteed €440Bn of bank debt was in the order €200m over the period of the guarantee.

    At current CDS rates we gave a guarantee worth €44Bn and recieved €200m.

    The value of AIB & BofI today is €739m.

    We are going to provide €7,000m for their benefit with no prospect that it will be enough.

    We are providing 10 times the value of these banks. Why not just buyout the shareholders and sack the management. We would still have €6,300m left to play with.


  10. No 8, – No one was ever jailed for white collar crime in this country, no one…. according to a person on Today FM, today. Gallagher, I believe was jailed in Northern Ireland. Amazing stat indeed.

  11. Standard shite. When the going gets tough form an investigative comitt-ee. Then when asked for comments use the stock reply of ‘I can’t comment further until the comitt-ee produces its report – in about five years time when everyone’s forgotten what it was all about’. If the the going gets really tough and the guards are called in – ‘I can’t comment in case it interferes with the course of justice’. Enough of this bollox, the whole thing is rotten to the core.

  12. Are we surprised that no one gets jailed. Bertie is still at liberty, indeed he still receives €100k in wages and €160k in pension from the state. I wonder does he still do the horses? Charlie get away scott free. Bertie even wrote off €2m of his tax debt. Dev came back from the USA with his pockets full of $$, the first political donations in Ireland? A bastard son from Harlem can suddenly open and own a national newspaper, coincidence? Jackie Healy Raes son is a councillor on South Kerry Co.Co., his other son is the roads contractor, coincidence? Is what Seanie Fitz did any worse?

  13. Hmmmm, a bastard son from Harlem indeed.
    What a way to describe a man who served this country to the best of his abilites and who stood in the GPO in 1916 when the led was flying, de facto.

  14. And sent Collins to London to negociate with Lloyd George, Bonar Law and Churchill because he knew that a united Ireland was not going top happen. He didn’t want to be deemed responsible, but rather than support Collins he left the Dail and dragged the country into a civil war. Hmmmmmmmmm some son of Ireland.

  15. Let’s not go down that road, people, please. It’s for a different discussion on a different day.

    I will delete any further off-topic comments.

  16. I’m not sure if this is exactly on topic Bock. But the €10 billion we hear has left the country – how much of that is from Irish people? or more to the point how much of that is our €7 billion and whatever we put in in September?

  17. In my opinion, the money was taken out by a few Irish people. Fewer than 100 of them. Perhaps no more than 50. You have just witnessed the thieves taking their stolen cash offshore in preparation for their planned default on the loans they hold.

    Guess who’ll be picking up the bill for this theft?

    [Hint: it’s you]

  18. Anglofriend, you may be unfamiliar with this fair isle. Fiscal crime is a rite of passage for a certain sector of our society. It receives applause and claps on the back from fellow glitterati in Marbella and Alicante. No perpetrator of fiscal crime has ever been jailed in Ireland, what do you think this place is? A just society!

  19. Mark
    February 24th, 2009

    Its called looting the Treasury.

    It always happens in the death throes of an elite.

    Watch out for the next elite.

    That’ll be when fear will be used on the Citizens to force acceptance of Lisbon.

    Then the European elite can rob us blind and we won’t even be suspicious.

  20. Read and then think about our situation -whats around the corner. Do not cry. Do not commit suicide. Do not lay hands on guns or other weaponry to assist the suicide of others. Have a pint and work out what the fuck we can all do to stop a repeat blighting the lives of the next generation. We have been the servile generation. History repeats.

  21. Bock
    The references to Dev and the Irish Press above do have some relevance to the current situation in that the cronyism, sleaze and corruption started there and his FF progeny have just perfected the art.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.