audit conference

audit conference
audit conference

Thursday, June 27, 2013

Laughing bankers – should be sent to jail.?

The audio recordings (released by Mr. McWilliams) are from the bank's own internal telephone system and date from the heart of the financial crisis that brought the State to its knees in September 2008. “The astonishing tapes show senior manager John Bowe, who had been involved in negotiations with the Central Bank, laughing and joking as he tells another senior manager, Peter Fitzgerald, how Anglo was luring the State into giving it billions of euro”. Utter disgust at these guys laughing at us, the public. Mr Bowe is asked by Mr Fitzgerald how they had come up with the figure of €7bn. He laughs as he is taped saying: "Just, as Drummer (then-CEO David Drummer) would say, 'picked it out of my arse'."
The question is what to do now?  I feel we should not have an oireachtas enquiry, we need a criminal investigation. We do not need a talking shop. The questions, and there are many - Where was the board of directors of Anglo? It’s inconceivable that they were not aware of what was going on? These laughing bankers have strong powers and these guys were running rings around the regulators/government/Central bank personnel. Where was the media when this was going on? What is the strength of our corporate law? How come, Anglo Irish Bank had a clean bill of health 3 months before the collapse?
Imagine – the head of the new financial service regulatory body 2004 Mr. Pat Neary (the most important job to overlook the banking system in Ireland) it took 2 years for Mr. Brian Cowen to meet Mr. Pat Neary!!
How much can this country take (Ireland)? Is suicide on the rise due to this farce/disaster? Is there a problem with ineptitude in our society? For example; when the HSE was asked how many children died under their care (with all the IT equipment and 600 highly educated staff in the department) there was an inconclusive answer.  
As a tax payer I have to accept these laughing bankers’ jokes to say no to further investigation into our financial crisis we are in. I know any investigation will lead to the supreme courts and more money for barristers to know, what we already know. If we were in England the finical services would have Mr. Drummer in jail. The executives of the Irish banks knew that back in 2008 we were in financial crisis. Yet, their jobs have been kept/secure. We are now dependant on Germany and for many years to come. We have disgraced ourselves and the embarrassment of the ‘laughing bankers’ singing ‘auf Deutschland’ what a disgrace.

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