Financial Regulator gets 600K payoff.

jmayo

nesf wrote: »

Yes I do have a kid. My personal politics are one of fiscal conservatism precisely because I don't believe we should leave a large public debt for our kids to clean up after us. It also motivates why I think we need major pension reform and an increase in the age where you're automatically entitled to draw the State pension.

But my views are unusual in this country and there is no party which holds such fiscal restraint as a core tenet and none have convinced me that they'd actually stand up to the unions in this country and batter our public expenditure back to a reasonable level vis a vis our tax take.

I have kid also and it worries me that he won't have a choice about staying here, but will have to emigrate like his grandfather and greatfather before him.
Comforting thought.

As a member of Obama's staff mentioned recently this is a time (a major upheaval) when we can grasp the thorny issues and change things.
Change things for the better in the long run.

Alas in this country we just saunder along, tell anyone that wants to have major overhual to be quiet, be clam, reflect and basically we get more of the same.
Obama slogan of "Yes We Can" in Ireland would be "No We Can't" or even worse "We Can't Be Bothered".

nesf

jmayo wrote: »

As a member of Obama's staff mentioned recently this is a time (a major upheaval) when we can grasp the thorny issues and change things.
Change things for the better in the long run.

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

jmayo

nesf wrote: »

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

Ah now I know why you are a mod on here, you can remember the exact quotes.

The other reason I guess is you probably don't rant as much as few more of us

Viva la revolution

yop

Out of interest WHO DID sign off the payments to Neary?

If Neary did nothing wrong, what was his reason for resigning?

What is the difference between what Anglo Irish did and Irish Life to this? Did they not mislead the government with pumped up deposits after 7billion transfer???
Is it not fraud?
http://news.sky.com/skynews/Home/Business/AIG-Fraud-Office-Probe-Finance-Arm-Of-US-Insurance-Giant-Under-Investigation/Article/200902215221984?lpos=Business_Carousel_Region_1&lid=ARTICLE_15221984_AIG_Fraud_Office_Probe%3A_Finance_Arm_Of_US_Insurance_Giant_Under_Investigation

I will say it again, this country is corrupt with builders, banks and the government in a cosy cartel, neither will rock the boat. The will have their big salaries, cars, houses and pensions and the rest of us will be in the gutter.

Back to the gentry and peasants of famine times again. May sound a bit extreme but we (as in normal Joe Soaps) are heading rapidly backward while the fukers who run our country sit back and protect themselves and their "boys"

Ps. this is not a rant.

lostexpectation

nesf wrote: »

I prefer the phrase "Never let a good recession go to waste."

It's early day though, I don't think the public fully grasp the reality of the situation yet with respect to the state of the Government finances.

pity they won't tell us

markpb

yop wrote: »

Out of interest WHO DID sign off the payments to Neary?

I assume no-one. Presumably there's a document out there somewhere that says when a civil servant resigns, they get paid x with y of a pension. Therefore when Neary leaves and gets what he got, no-one is responsible - it's just policy. This works even better when the policy is the same for people at different levels - then they can say you can't change the policy because you'd be cheating a garda, nurse, etc out of their benefits.

The more of these shenanigans goes on, the more I'm reminded of Yes, Minister and how depressingly similar it is to this country.

yop

markpb wrote: »

I assume no-one. Presumably there's a document out there somewhere that says when a civil servant resigns, they get paid x with y of a pension. Therefore when Neary leaves and gets what he got, no-one is responsible - it's just policy. This works even better when the policy is the same for people at different levels - then they can say you can't change the policy because you'd be cheating a garda, nurse, etc out of their benefits.

The more of these shenanigans goes on, the more I'm reminded of Yes, Minister and how depressingly similar it is to this country.

But the "secret" payment, would it not have to be signed off?

P. Breathnach

yop wrote: »

But the "secret" payment, would it not have to be signed off?

Of course.

akaredtop

The time has come. String up every politician, all union officials, most public servants and our top stars in RTE from the nearest lamp posts. These are the most greedy and vile in our society today.

yop

P. Breathnach wrote: »

Of course.

So you signed it off then..

Would it not be the minister of Finance who signed this off? I am just very curious as the issue been that he signed off 200k of our money to pay someone for failing in their role.
Maybe I am blinkered here but can someone show me how he did not fail in his role of regulation???

I am sorry to harp on about it be we seem to rewarding incompetence are we not? I am all for fairness in every thing I do in my life what ever it be with regards my work, my family or my sport, but when we are watching the carry on of our "leaders" day after day after day and seem powerless to stop it its very hard to stay quite and trust them.


As I have heard on the radio stations what would happen if this occured in any other European country?? Would they sit on their ass and do nothing and then bend over and take another lash? Dont think they would. :rolleyes:

SeanW

PeakOutput wrote: »

and your qualified to judge that how exactly?

Assuming it's the government's place to regulate the private financial markets in the firstplace, (and even more so pad the monetary system with excess cash, lower interest rates, that screws up decision making, but that's another question) then his job was to "regulate" the banks, and stop them from doing stupid and underhanded things that would eventually leave them all broke ... and he didn't do that. He knew for example of all the dodgy (interbank) dealings with Anglo Irish, the loans that were bounced around from Anglo to National Irish bank, the €4 billion (1/3 to 1/4 of that banks total deposits) that IL&P deposited to Anglo Irish just before it's financial statements then withdrawn immediately after ...

He screwed up, and if you screw up you're supposed to get fired. Instead he gets a massive a payoff+pension that will likely be the equal of a small road project ...