Así engañó Anglo Irish Bank a Irlanda: "Me saqué la cifra del rescate del ojo ciego"

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Dukes’ Hazard | Broadsheet.ie

Dukes’ Hazard
12:21 pm July 1, 2013 Chompsky

As part of the State bank guarantee in 2008, the then Fianna Fáil/Green coalition was entitled to appoint two new ‘public interest’ directors to the boards of the six banks covered by the guarantee.

Former Fine Gael leader Alan Dukes and Frank Daly were appointed to the board of Anglo Irish Bank in December 2008. Mr Dukes was subsequently appointed chairman of IBRC, until it was liquidated in February of this year.

In Saturday’s instalment of the Anglo Tapes, which are from December 2008, Paul Williams, of the Irish Independent, told how then Taoiseach Brian Cowen and the late Finance Minister Brian Lenihan ignored advice from international bankers Merrill Lynch (which were advising the Government) to shut down Anglo.

“Mr Drumm reveals a conversation he’s apparently had with former Fine Gael leader and ex-finance minister Alan Dukes – the government-appointed member of the board of the bank, where the former politician allegedly reported that the Government had decided to keep the bank going. Mr Dukes was appointed as public-interest director at Anglo days beforehand. The tapes put a new perspective on the political and banking situation before Mr Drumm was sacked and a number of months before Anglo was nationalised at a cost of €30bn. Up until now, it has never been known that Merrill Lynch went so far in urging the government to close Anglo.
“Drumm explains his plans to burn his own bondholders, which he says would have saved the Irish taxpayer €9bn – but was never implemented.”

In The FitzPatrick Tapes (Penguin, 2011), Tom Lyons and Brian, Carey write how, in February 2009, as the 2008 annual reports for Anglo Irish Bank were to be published, the Department of Finance warned Anglo’s chairman Donal O’Connor (who succeeded Sean FitzPatrick) and his board, which included Mr Dukes, not to refer to the need for emergency funding.

It states that the Department of Finance drew up a ‘less negative’ version of events which Mr O’Connor signed.

In August 2009, Mr Lenihan appointed Mike Aynsley as the new CEO of Anglo Irish Bank and Mr O’Connor stepped down to be replaced by Mr Dukes.

Last Tuesday, Alan Dukes was in America when he spoke to the Irish Daily Mail:

He told the paper: “I am away. I haven’t heard the tapes. I don’t know what’s in them. And in any case I wouldn’t comment about them, because the issues they were talking about are relevant to court cases going on at the moment.”

“I am not making any comment about it, full stop. Paragraph. End of story.”

Last Friday Mr Dukes’ former party colleague Taoiseach and Fine Gael leader Enda Kenny spoke about the Anglo Tapes while he was in Brussels for an EU summit.

During a Press conference, he branded the tapes a “thunderbolt”.

Earlier in the week, the Irish Independent reported that Finance Minister Michael Noonan, also of Fine Gael, knew nothing about the tapes until he opened the paper last Monday.

Hmm.

(Sask Lazarov/Photocall Ireland)

Former bank executives may face ban from Central Bank - Irish News, World News & More | The Irish Times - Mon, Jul 01, 2013

Former bank executives may face ban from Central Bank
Governor Patrick Honohan says legal action is being considered

Derek Scally

Mon, Jul 1, 2013, 12:04
First published: Mon, Jul 1, 2013, 01:00

Central Bank governor Patrick Honohan has said his institution is considering legal action and a permanent career ban for the former bank executives heard on the Anglo tapes.

“These bankers seem to like themselves in the role of aloof superhumans who have only contempt for their fellow man,” Mr Schäuble was quoted as saying. “Instead it is they who should get our contempt.”

In the newspaper’s Saturday edition Prof Honohan said Dr Merkel’s “contempt” remarks in Brussels “summed up matters very clearly”.

“I can only agree,” he said. “The style, the attitude and the culture reflected in these phone calls are deeply disgusting.”

He said the strategy discussed by Anglo executives on the tapes to play down their bank’s difficulties in dealings with the financial regulator added a “new dimension” to the scandal and that the Central Bank was examining legal action against them.

Sanctions

Possible sanctions, the governor said, included fines and prohibitions on working in the financial sector.

He conceded that the tapes were proof of the poor quality of financial regulation in pre-crisis Ireland.

“It should not have been possible to fool [the regulator] in such a simple and gross way,” he said, but he insisted Ireland had introduced radical regulatory reform since then.

Journalist Paul Williams, who broke the story in the Irish Independent, told the FAZ that the Central Bank was not aware of the contents of the tapes but that “the police had them for four years”.

In the same newspaper, Prof Brian Lucey of Trinity College urged continued pressure from abroad on the Anglo tapes, because “Ireland will not investigate the Anglo scandal fully on its own initiative”.

German interest in the Anglo tapes shows no sign of abating, with all main newspapers devoting lengthy articles to the subject in their weekend editions. The bestselling quality daily, the Süddeutsche Zeitung, carried a lengthy news antiestéticature about Ireland under the headline “Conned”.

It suggested Ireland’s bankers were not the only ones worthy of Angela Merkel’s contempt.

Natural resources

“They are just one part of an elite that shamelessly exploits the island,” it wrote, drawing a line from the Anglo tapes to questionable government decision’s in Ireland’s recent past.

It looks critically at the long-term financial cost of the decision to allow non-Irish fishing boats into Irish territorial waters in exchange for EU subsidies.

However, most attention is devoted to the 1987 law change abolishing the State’s 50 per cent stake in oil finds.

With this law change then energy minister Ray Burke “sold off the island’s future”, it wrote.

“The oil off the Irish coast could be the way out of [its] misery . . . if former energy minister Ray Burke hadn’t changed the law . . . in 1987 to give oil companies 100 per cent of their find with no licence fees,” the newspaper wrote. “Bertie Ahern . . . as finance minister cut the taxes for oil companies in 1992 to 25 per cent.”

The report details the protests around the country arising from oil exploration, and cites the successful protest against oil rigs off the Dalkey coast as an indication of a new protest culture in the country.

However, the strongest reaction to the Anglo tapes has been in the conservative Frankfurter Allgemeine daily.

On Wednesday the paper published an editorial calling for former Anglo executives to be put in a put in a sack with the then Irish government and regulator and “beaten with a club until the screams of pain are unbearable”.

FF leader wants

FF leader wants ‘Leveson-style’ banking inquiry
Martin says public want justice done but former DPP’s warning should be taken on board

Mon, Jul 1, 2013, 13:09
First published: Mon, Jul 1, 2013, 13:08

Dan Keenan

A “Leveson-style inquiry” should be held into the banking controversy ***owing the Anglo tapes revelations, Fianna Fáil leader Mícheál Martin has said. But he also said a warning from former DPP James Hamilton, who said it would be foolish to proceed with any government-led inquiry in advance of criminal proceedings, should be “taken on board”.

“My own preference is for a Levenson type of inquiry under the tribunal of Inquiry Act 2005 – a new form of inquiry with an independent judge,” Mr Martin said.

“The Government has been saying that it wants an inquiry,” he added. “I would simply say to the Government `get on with it’.”

He accused the Government of seeking to delay investigations into the banking system “for as long as possible for political and electoral reasons”.

Speaking on RTÉ’s Morning Ireland programme, Mr Martin said the public “want the criminal prosecution system to work, the public want results from that”.

“People want justice here and if wrongdoing occurred they want the prosecution system to work on that basis and to get results,” he said

He denied the revelations contained in the Anglo tapes were solely responsible for the slipping of Fianna Fáil in recent opinion polls.

Questioned about the previous government’s decision to agree to a widespread bank guarantee, Mr Martin claimed there had been a “failure of regulation” in the sector and he denied there was covert action taken by ministers at the time.

“There is no secret about this. There is no mystery about what happened on the night of the bank guarantee. Everybody knows who was there from the Taoiseach to Brian Lenihan to Department of Finance officials to [OTHERS]. There has been attempt to suggest that some underhand activity went on on the night there were people going hither and thither.”

Taoiseach Enda Kenny had used the world “collusion” and this should be withdrawn, Mr Martin said.

“I would ask him to withdraw it because he has no evidence in any shape or form. I think he behaved as a partisan Fine Gael leader and not as Taoiseach of the country. I think it’s important that you don’t try in advance of any inquiry to prejudge the outcome.”

Former Taoiseach Brian Cowen would “certainly” take part in any inquiry into the banking situation in 2008, Mr Martin said.

Recalling the events before the decision was announced to guarantee the banks, Mr Martin said: “At the time it was fundamentally about liquidity. That was the diagnosis of the problem at that time and in essence you had one shot at it and in terms of the guarantee it was to ensure confidence to get deposits – remember deposits were fleeing out of the country.”

Mr Martin, who was in the US at the time, was contacted by his Cabinet colleagues in Dublin.

“On the night the advice was very stark: you were faced with the collapse of the economy. It could have put the economy back 25 to 30 years. I wasn’t told about that on the phone from Dublin but there was a further Cabinet meeting the ***owing morning which people forget about.”

“The advice was that the bank guarantee was absolutely essential,” he said.

“I accepted the advice from the Taoiseach, the minister for finance and all of those other people present.”

Banking inquiry no-shows to face sanctions - Noonan - Political News | Irish & International Politics | The Irish Times - Mon, Jul 01, 2013

Banking inquiry no-shows to face sanctions - Noonan

Minister says legislation will be laid out in ‘clearest possible terms’

Kathryn Hayes

Mon, Jul 1, 2013, 13:30
First published: Mon, Jul 1, 2013, 13:23

Minister for Finance Micheal Noonan has warned there will be sanctions against anybody who fails to appear before the planned banking inquiry.

Mr Noonan made his comments in Limerick today where he agreed that the former Anglo Irish Bank chief executive David Drumm should co-operate if he is part of any inquiry. Mr Drumm has apologised for using inappropriate language before the institution received a State bailout in 2008.

“Obviously if there is an inquiry and he [Drumm] is a relevant person, I think like everybody else he should co-operate fully with the inquiry.” Mr Noonan said. “There will be sanctions in the legislation that Brendan Howlin is bringing forward for persons who don’t co-operate so that’s an issue as well when he [Drumm] is contemplating his position.”

David Drumm: “At no time did Anglo Irish Bank request the Central Bank or the Financial Regulator to ask the government to issue a blanket bank guarantee of all Irish banks’ liabilities.” Photograph: Bryan O’BrienDrumm says bank guarantee not sought

Mr Noonan also insisted today that the Minister for Expenditure and Public Reform Brendan Howling has laid out in the “clearest poissible terms” where the Government is going in terms of the banking inquiry and that legislation to establish it is being drawn up.

When asked if he is now prepared to release official records of the late night meeting between bankers and ministers that led to the bank guarantee scheme, given the public outrage over the Anglo tapes, Mr Noonan said this would have to be dealt with under the Freedom of Information process.

“Ministers don’t have any role is deciding what can be released under Freedom of Information. There is a designated officer within the Department and ministers wouldn’t even know what the Freedom of Information requests are, so we won’t interfere with the legal position on the releasing of documents,” he said.

The Sunday Times newspaper sought the only official record from the fateful night the bank guarantee scheme was agreed however it wasn’t released as the Department of Finance objected on 27 grounds.

Mr Noonan was speaking at the Graduate Medical School in the University of Limerick today, where a €40 million investment in the pharmaceutical sector was announced.

 

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Gardaí and Central Bank to examine new Anglo Tapes - Political News | Irish & International Politics | The Irish Times - Thu, Nov 07, 2013

Gardaí and Central Bank to examine new Anglo Tapes

Fianna Fáil accuses Sinn Féin of using recordings to deflect attention from Disappeared documentary

Steven Carroll

Thu, Nov 7, 2013, 08 :44
First published: Thu, Nov 7, 2013, 08 :28

Gardaí and the Central Bank are to examine a set of recordings of telephone conversations from Anglo Irish Bank that were anonymously provided to Sinn Féin.

During a Dáil debate on the Finance Bill yesterday, Sinn Féin finance spokesman Pearse Doherty said the party had received the recordings and that their contents were not currently in the public domain.

He said the recordings centred on the period between February and September 2008, ahead of the introduction of the bank guarantee by the then Fianna Fáil-Green Party coalition and Anglo’s collapse.

The Donegal South-West TD said the party had given the recordings to the Garda and the Central Bank but, on legal advice, had decided not to publish them at this stage.

‘Public interest’

“We have also retained a copy with a view to publishing them at a future date, as the publication of these conversations are in the public interest,” he said.

Mr Doherty said a memory stick containing seven recordings that lasted for about an hour had been anonymously delivered to the party’s offices about two weeks ago.

A Garda spokesman said the tapes had been received and were being “worked through”.

A Central Bank spokeswoman said the bank would consider the material and would “liaise with An Garda Síochána as appropriate”.

It is the second leak of tapes containing recorded conversations from Anglo Irish Bank.

The Central Bank investigated allegations contained in tapes published by the Irish Independent earlier this year but said there would be no further legal action arising from them.

Mr Doherty urged the Government to proceed with the establishment of a banking inquiry as there was “a public demand for truth”.