Tuesday, 24 July 2012

Irish banksters are not above the law

An anonymous person has tried to leave the following abusive comment on my recent post, 'Banksters are not above the law:' 

'You must be out of your ****** mind if you think Bob Diamond or anyone from the Barclays board are going to be arrested for fraud.'


I should like to draw this ignorant  person's attention to the following news from Ireland.


Sean FitzPatrick
Willie McAteer
Pat Whelan

In brief, at dawn this morning, the bankrupt former CEO/Chairman of the Anglo-Irish Bank, Sean FitzPatrick, was arrested (by appointment with the Irish police) on a return flight from the USA at Dublin Airport, as part of an ongoing criminal investigation. Yesterday, Willie McAteer, the former second in command at Anglo-Irish appeared in court alongside the bank's former Head of Lending and Operations, Pat Whelan.

This trio of typically-arrogant, Irish banksters face 16 charges relating to their failed attempt to manipulate their company's share price in 2008. http://www.bbc.co.uk/news/world-europe-18956662. Soon afterwards Anglo-Irish had to be bailed-out by Irish taxpayers to the tune of 30 billions Euros.

Sean FitzPatrick has already admitted that he concealed from his shareholders, and from the public, the facts that: 

  • Anglo-Irish was (due to his mis-management), on the verge of collapse
  • he had personally borrowed a total of 87 millions Euros from the bank between 2000 and 2007
  •  he was, and is (due to his reckless and catastrophic investments), unable to pay back these staggering personal loans 

These banksters, who have all been released on bail and who have wisely-refused to make any public comment, would seem to have no chance of escaping being held to account for their crimes. Considering the extensive damage they have caused to the Irish economy and to their fellow citizens, they should consider themselves lucky that they have not been charged with treason.

David Brear (copyright 2012)

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