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Who thinks Sean Quinn is a great businessman now?

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  • Registered Users Posts: 24,217 ✭✭✭✭Sleepy


    It disgusts me that we allow such criminals to benefit from the proceeds of their criminality, still living it large in their McMansions and driving luxury cars while the public foots the bill for their poor gambling.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    Just watching it now. It's very pro Quinn and his rise from rags to riches. Amazing the fawning from some journalists over him. Hopefully the next two parts are a bit more balanced.

    Just crazy that he made such bad decisions and questionable legal actions which led to him in front of the courts and he still feels that "they" have taken my business from me. Everyone else fault.



  • Registered Users Posts: 4,957 ✭✭✭kirk.


    Amazing how he gambled everything on Anglo

    As someone posted you'd never see a Warren buffet do that

    He must have been ignoring or overruling whatever advice he was getting



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    That is like saying that because there wasn't a garda car with a speed camera near an accident, they have some responsibility for enabling speeding that caused an accident.

    It absolves personal responsibility for law-breaking to imply that the regulators should have been there at every turn. About 4 million other people in this country didn't need the regulator to tell them not to engage in what Quinn did.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    According to himself and the mates he shouldn't have had to pay for that gamble though 😀

    You know I'm not buying that clean as a whistle and just really good at buying and shrewd investments to get to where he did. I'd say like all these lads there were under handed procedures used too.

    Alan Dukes is hilarious on it.



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  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    "Lucky" With planning permissions.

    Wouldn't we all like to see what connections and relationship he and the family had with certain county councils at the time.



  • Registered Users Posts: 11,097 ✭✭✭✭Furze99


    54.12985467184554, -7.646680734010484

    The Quinn Highway - one of the odder sights in the Irish countryside. A private road as good as any of our major regional roads, built as I heard it at the time, without planning permission but maybe that was local rumour. Better quality than the main national primary route below. Oddly I think in the Republic but uses NI/British road signage. Basically runs for miles in middle of nowhere to bring materials from one of his quarries of the day.



  • Registered Users Posts: 4,957 ✭✭✭kirk.


    Inside information and bungs have always been

    factors in some people making money



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    Don't think we can say anything other than he was lucky with planning permissions or the whataboutery police will descend on us.



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    and the Google StreetView is only 2009.

    I am sure he completed all the Environmental Impact Statements needed.

    When you think that the Galway bypass can be stopped on relatively minor grounds, and something like this just gets driven through the countryside you realise the way he got away with it.



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  • Moderators, Politics Moderators Posts: 39,624 Mod ✭✭✭✭Seth Brundle


    No it is not and I'm not sure why you're taking such a line. The culture at the time was one where it was encouraged to make as much money as possible. Look at Anglo. Look at Irish Permanent. Look all around you as it has all been widely reported on!

    Quinn gambled massively using borrowed money and he lost. When he lost, we all lost. However, how did he manage to get all the money from the likes of Anglo? How did Anglo manage to loan almost €1bn to Quinn (bringing his debt to them to over €2Bn) with over €300m of that in a matter of days. How did Anglo manage to hand over €450m to the Maple 10 to counterstrike Quinn's moves. Where was the regulator when all of this was going on? Where was the governance?

    Quinn is 100% responsible for what he did. That does not remove the issue that there was a culture of low level regulation at that time which enabled greedy pigs like Quinn to gamble like he did.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    Yeh 100 percent amazing that he thought he was sheltered from all of the global turmoil. The two Anglo biyos fairly out foxed him there !!



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    And no diff

    Well will it come out in the documentary I wonder or is this just going to be a PR exercise for the Quinn family.



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    The regulator isn't in the banks every day looking at the transactions. The audits should have picked up the problem so there is some blame on the big accountancy firms. The first problem was the day-to-day governance of the banks. The second problem was David McWilliams' pitch to Brian Lenihan to guarantee the banks. All the officials opposed that because they had some sense that something was wrong, but Lenihan and Cowen overruled them. Without that guarantee, Anglo would have collapsed, we would still have had to prop up the other banks, but the damage to the economy would be far less.

    It all came down to a few men, Quinn, Fitzpatrick, Dunne, McWilliams, Lenihan and Cowen, the common characteristic being that they were all too stupid to realise how stupid the rest of them were.



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    Hopefully, the next two episodes will hit harder home.

    Quinn deepened significantly the recession we all felt in 2008. Every public servant got a pay cut because of Quinn. Social welfare rates were frozen because of Quinn. The damage he did is still being felt all over the country.



  • Registered Users Posts: 3,458 ✭✭✭celt262


    I would have no faith in the planners in Cavan County Council anyone. One of them played a big part in refusing a developer planning for a big housing development on the outskirts of the town and a year later bought the land himself and got planning no bother and then build 100+ houses on it. As for the engineers getting stone and concrete for "jobs" and then diverting them to their own private houses which they were building. Corruption was widespread back then.

    Sorry for going off topic just wanted to let ye know the type of individuals in the council he would have been dealing with.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    People shouldn't be fooled by the veil. He didn't think normal workers or people mattered much less people claiming social welfare.



  • Registered Users Posts: 1,100 ✭✭✭Akabusi


    I see someone mentioned the planning applications, plenty of talk locally that a lot of those buildings did not have planning permission, once built any objections from the council would then be shouted down as an attack on jobs etc. He tried this in the UK also, but the local councils over there were not as much of a pushover like our lot.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    I'd imagine that Council Officials would have been either bought or intimidated by the provos.



  • Registered Users Posts: 437 ✭✭TipsyMcStagge


    Quinn was a greedy pig who had billions and gambled it all so he could have more a stupid greedy man who blames everyone else for his own mistakes. I hate this narrative that he lost it all though he still lives in a mansion still drives a fancy car and isn't short of a few bob I can guarantee you that. He owns a betting company that's doing well he caused other to lose it all alright but not him. The FF/FG trying to blame him for the crash have a cheek as well they were all in favour of deregulation and capitalism running wild they can't rewrite history now.



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  • Registered Users Posts: 7,857 ✭✭✭growleaves


    Yah you don't put all your money in one company.

    Also in one of his books Warren Buffett advised never to buy bank shares because you will never be able to get a true picture of their internal financials from the outside.



  • Registered Users Posts: 9,010 ✭✭✭Gregor Samsa


    That is pretty mad, I hadn't heard of that before. It is in the Republic, but you can see the UK road signs on Google Street View. And it has a speed limit of 65km/h, which isn't a standard here. There's barriers the length of it that can be closed, and there's signs at some points saying the road closes at 5.30 PM. But the Google Street View car obviously drove it, so there must be public access. The Anglo Celt claims it did get permission in 2003, but you'd have to wonder about how robust that process was to allow a 10km private road across a mountain. (https://www.anglocelt.ie/2021/09/23/mannok-hopes-to-continue-quarrying-for-20-years/)



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    Any idea what he is worth now? Yes he has a betting company so he is now making money off the backs of peoples misery I suppose.

    I'd say the mansion is a mill stone. Imagine looking across at the Hotel and golf course every morning knowing that you built it but are no longer welcome or wanted there.

    This documentary will only give us so much. It's the local people who wouldn't dare appear on it for fear of provo backlash that would really enlighten you to his underhandedness.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    And I'd nearly wager a bet they are all good Fianna Fail men.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    I lost all respect for him when I saw him serving Budweiser. A billionaire serving bud. FFS




  • Registered Users Posts: 11,097 ✭✭✭✭Furze99


    Could be true then, I think it was 10 years ago I stumbled on it. Entirely unexpected at the time.



  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    The kids look to be the real ones who lost. From the possibility of inheriting billions to losing literally everything. Reading a few articles on it there and they had mortgages etc which they needed to hand in documents to the courts.

    I'd say there have been some serious falling outs.



  • Registered Users Posts: 27,748 ✭✭✭✭blanch152


    Quite probably. While Martin is doing a relatively good job, I can never vote for FF until the generation that oversaw the 2000-2008 period are gone.



  • Registered Users Posts: 13,504 ✭✭✭✭Mad_maxx


    Yet apparently SQ was incapable of knowing that going ball5 deep in Anglo was risk suicide , someone should have protected him from himself?

    a man who prided himself on self reliance and doing things his way was now apparently to be guided like a toddler wandering into moving traffic



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  • Registered Users Posts: 7,278 ✭✭✭Gusser09


    Ignorance, Arrogance and Ego.

    And he had no real knowledge of the banking sector. He had no idea about exposure. He was ready for the complexities of banking and I'd imagine he though the government would save him too.

    He really should gone all in on property and he'd have been fine.



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