Apr 162014
 

It’s good to see that the jurors showed moral courage as directed by the judge and acquitted Seán Fitzpatrick on all charges.  I’m now going to retract everything I ever said about the banks and the Irish economy.

None of the Irish banks did anything wrong.  There was no travelling roadshow of money going from bank to bank to fool the auditor.  Anglo lent money to the Maple Ten simply because it seemed like a great business idea at the time.  It had nothing at all to do with propping up the bank.  The financial regulator kept all the banks under close scrutiny and Anglo executives never ridiculed him in private.  They also don’t know the words to Deutschland Uber Alles.

The financial regulator was probably the best in the world.  The Irish bankers were probably the most efficient bankers the world has ever seen.  The government was absolutely right to indemnify their bondholders, especially since there was no collapse and no money was handed over.

Not only that, but Anglo and Irish Nationwide are fine, well-run banks that remain in business to this day.  There is no crisis, the Troika never visited Ireland and we have 100% employment.  Sean Quinn is still the richest man in the country and runs a thriving insurance company among many other enterprises.  Property continues to boom and developers continue to enjoy the fruits of their magnificent vision.

Oh, and Bertie Ahern is still Taoiseach.

 

  5 Responses to “Anglo Chairman Sean Fitzpatrick Acquitted of All Charges in Maple 10 Trial”

Comments (5)
  1.  

    There’s Ireland’s courts system for you.
    No different than the british courts system that spawned it.
    Continuity in action.

  2.  

    In his summing up address the judge said ‘It did not matter whether the three men believed the share purchase scheme at the centre of the case was legal or illegal. ‘. What the fuck does that mean ?

  3.  

    What dirt does Seanie have on the political elite, how can a man who presided over moving money around banks to make them look profitable, or to lend money to saps to prop up Sean Quinns poor decisions, be going home without serving any time behind bars.

    Not forgetting he himself borrowed anywhere between 85-100 million to squander on bad investment decisions across the globe he clearly knew nothing about.

  4.  

    Whelan and McAteer have been found guilty. “Sentencing” will be soon. I bet that will equate with a fine of three grand which they will pay out of the monies they have hidden offshore. The more things change………….

  5.  

    He was non executive in the bank at the time. It is infuriating but who should be up there? Even Whelan and McAteer are just sacrifices.

    It would appear that the regulator is guilty of gross incompetence but then again he was just following the standard that was set by the government and various departments. If you look beyond that you get to the Irish people who re-elected Bertie after he was clearly dodgy. I still can’t believe that I live in a country that would accept the idea that the minister for finance didn’t have a bank account because of his divorce… and we elect Lowry time and again. We are all guilty.

    FF are back in the polls. I don’t blame college grads leaving Ireland. I’d get out too but I’m too old!

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