Should the govt seize assets CAB Style from rogue bankers ?

Morlar

Should the govt seize assets CAB Style from rogue bankers ?

Simple question - after reading this it would probably make more sense :

http://www.rte.ie/news/2010/1019/anglo.html

Anglo Irish Bank has been granted an injunction against the wife of former chief executive David Drumm preventing her from transferring half of her property in Dublin back into Mr Drumm's name.

The bank told the court it feared this was being done to put the house beyond the reach of creditors.

Anglo Irish Bank is taking Mr Drumm and Lorraine Drumm to court over the transfer last year of a house in Malahide from their joint names to Mrs Drumm's name.

The action was due to begin next week, along with another action to recover more than €8m from Mr Drumm.

But last Thursday, Mr Drumm filed for bankruptcy in the US.

Anglo told the Commercial Court it received a letter from Mrs Drumm's solicitors last night saying she had given instructions to transfer a half share of the house back into Mr Drumm's name.

She said this was being done to settle the proceedings in relation to the house.

Under US law, an asset acquired after a person has filed for bankruptcy cannot then be brought back into the bankruptcy proceedings, the court was told.

Mr Justice Kelly granted an injunction stopping the transfer.

He set next Tuesday as a date for the US trustee in bankruptcy to come to the court and explain what she intends to do in relation to the Irish legal proceedings.

flyton5

Don't forget their first born children...

Biggins

No the Govt Should NOT seize assets of Rogue bankers

If they were shown to be acting in a way unfavourable to the state/shareholders, leading to a loss, while at the same time benefiting themselves and continue to do so... then yes, absolutely.

flyton5

IBB(In before Biggins)


*dances*

Biggins

No the Govt Should NOT seize assets of Rogue bankers

flyton5 wrote: »

IBB(In before Biggins)


*dances*

:pac:

bigwormbundoran

No the Govt Should NOT seize assets of Rogue bankers

flyton5 wrote: »

IBB(In before Biggins)


*dances*

Nicely done

kfallon

flyton5 wrote: »

IBB(In before Biggins)


*dances*

Denied!!! :pac:

flyton5

kfallon wrote: »

Denied!!! :pac:

See first reply.


(I would've just edited my original post instead of writing a new one but it was too big a moment)

Sharkey 10

Should it not just be the cab that seizes them?

Biggins

No the Govt Should NOT seize assets of Rogue bankers

Sharkey 10 wrote: »

Should it not just be the cab that seizes them?

I think thats what the OP meant. That their assets also should be sought by the CAB, with the backing of the government too.

Nodin

They'd have to show they were involved in criminal activity first. I'd say theres SFA chance of it happening.

Morlar

No the Govt Should NOT seize assets of Rogue bankers

Biggins wrote: »

I think thats what the OP meant. That their assets also should be sought by the CAB, with the backing of the government too.

The more you read that article the more infuriating it gets. I think if you read it quickly it's possible to miss out on the level of manipulative deviousness being dealt with here. CAB don't just have powers of asset seizure they can seize solicitors files and so on.

Biggins

No the Govt Should NOT seize assets of Rogue bankers

Morlar wrote: »

The more you read that article the more infuriating it gets. I think if you read it quickly it's possible to miss out on the level of manipulative deviousness being dealt with here. CAB don't just have powers of asset seizure they can seize solicitors files and so on.

Part of me sometimes suspect that they (FF and co) deliberately don't give the CAB (and similar) the 'teeth' they need to tackle such people - conveniently it seems, those that seem to get away with certain white collar activities, are too often in league/associated with our heads of state.

Manic Moran

Nodin wrote: »

They'd have to show they were involved in criminal activity first. I'd say theres SFA chance of it happening.

My first thought as well. There's the difference between a civil case and a criminal case. The Criminal Assets Bureau would only be involved in the latter.

NTM

super_furry

No the Govt Should NOT seize assets of Rogue bankers

Yes the should but under the law, can they?

ascanbe

Clear examples of fraud, in the running of Anglo Irish Bank and, arguably, others, have been available for some time now.
The entire thrust of government policy regarding the economic disaster has been geared on protecting the bankers/developers and ensuring tax-payers pick up the tab.
Allowing this larceny take place, will prove disasterous for this country.

Jev/N

No the Govt Should NOT seize assets of Rogue bankers

I wanna know why two people voted no?

Dyr

Our govt have been willing to amend the offences against the state act in all kinds of unusual ways to protect this fair and noble little banama republic.

These c**ts have done more to undermine the existence of the country than any provo driving around with garda high viz jackets in their boot, and yet...

PanchoVilla

No the Govt Should NOT seize assets of Rogue bankers

The argument that we can't convict these people is ridiculous. CAB can just go in, seize solicitors paperwork, accountants paperwork, everything they need to convict a lot of people with serious crimes.

The problem is that an investigation as big as this will surely implicate people with a lot of power/wealth in this country. The years of tribunals have already shown massive corruption in all levels of government. As long as FF or FG are in power we will never have a full investigation.

When elections finally come around, forget your party loyalties and vote for the guy who's gonna have these events fully investigated by CAB. It's long past time to deal with the massive corruption of Irish politics.