"Banks still avoiding site valuations" Neil Callanan

Good interview with Neil Callanan (Sunday Tribune) on Morning Ireland this morning

rte.ie/news/2009/0911/carrolll_av.html?2608203,null,209

the first part is on Liam Carroll (and why his business model was doomed to failure)

but then he goes on to talk about the banks avoiding doing valuations so they don’t come to the attention of the Audit Committee initially and latterly to avoid the Government appointed directors

starting at 6:55

While we have speculated on this type of banking practice going on I was amazed to hear it publically spoken. So (excuse my naivety) but is this “avoidance” (if proven) illegal? who’s is directing the banks to avoid valuations and thus to keep the Govt directors in the dark? are the shareholders concerned? are the Government appointed director’s willing or able to do anything about it? what about the Financial Regulator…? etc etc

Bump for wow.

Callanen was very good on that show.

This country is sleep walking to oblivion