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Sean Quinn - the Truth - Easy to Understand Version

  • 05-08-2012 5:28pm
    #1
    Avatarr
    Registered Users Posts: 150 ✭✭


    Really nice post, I am not a supporter of Quinn and I don't have much sympathy for him (I do have sympathy for his employees and tax payer). He made a lot of I'll advised short sighted decisions and was driven by no small measure of greed.

    One thing though has been troubling me, here is a company that has created a lot of wealth in the past, would it not have been better to maintain the organisation (not under Sean's control) and work to recoup as much as possible for tax payer.

    Breaking up the company and having a fire sale seems short sighted, take Quinn insurance, the business was sold on with the tax payer taking up in excess of 1bn in liabilities.

    It seems to me that IBRC is operating a short sighted agenda, the cure is killing the patient. I cant help but think the powers that be don't care about latent liabilities, they will balance there loan acounts knowing the tax payer will ultimately pick up tab.

    Rather than recouping some money for tax payer, why not recoup it all.
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