It would bring a tear to a glass eye!
Its more like a kick in the crystal balls or was sold to these guys with a particular slant, I also find it hard to believe that they did this for the love of Ireland as we all know over the last ten years charity begins at home and with some people it stays there as well.
Billionnaire Moron cries himself to sleep
sounds about right.
Do not underestimate the fact that the people who were supposedly the richest because they borrowed the most were in fact the biggest idiots
Like the folks who bought second and third houses with the expectation of making a killing renting them out and are now in severe difficulty.
A millstone? But the debt has been declared irrecoverable by the lending bank.
Apart from that, we are being asked to swallow the line that the “developer” was of a class that knew little about financial markets (according to an unnamed source with a perfectly quotable “better than his wife” anecdote) and were lead astray, under duress, by big bad relationship managers and Morgan Stanley. Yet, the developer was astute enough to cover his ass and ask if any stock exchange regulations were breached. And lo, the bank told him no and he believed it (without, presumably, asking for copies of counsel’s opinion).
If you swallow that incongruence, you’ll swallow anything.
And the whole stinking piece of spin finishes with the risible claim that the poor unfortunates may not have any money left anyhow.
This PR spin is adding insult to injury.
Dear Anglo Investor/Patriot/Green Jersey Wearer
CONFIDENTIAL BUSINESS PROPOSAL
HAVING CONSULTED WITH MY COLLEAGUES AND BASED ON THE INFORMATION GATHERED FROM THE NIGERIAN CHAMBERS OF COMMERCE AND INDUSTRY, I HAVE THE PRIVILEGE TO REQUEST FOR YOUR ASSISTANCE TO TRANSFER THE SUM OF $47,500,000.00 (FORTY SEVEN MILLION, FIVE HUNDRED THOUSAND UNITED STATES DOLLARS) INTO YOUR ACCOUNTS. THE ABOVE SUM RESULTED FROM AN OVER-INVOICED CONTRACT, EXECUTED COMMISSIONED AND PAID FOR ABOUT FIVE YEARS (5) AGO BY A FOREIGN CONTRACTOR. THIS ACTION WAS HOWEVER INTENTIONAL AND SINCE THEN THE FUND HAS BEEN IN A SUSPENSE ACCOUNT AT THE CENTRAL BANK OF NIGERIA APEX BANK.
WE ARE NOW READY TO TRANSFER THE FUND OVERSEAS AND THAT IS WHERE YOU COME IN. IT IS IMPORTANT TO INFORM YOU THAT AS CIVIL SERVANTS, WE ARE FORBIDDEN TO OPERATE A FOREIGN ACCOUNT; THAT IS WHY WE REQUIRE YOUR ASSISTANCE. THE TOTAL SUM WILL BE SHARED AS FOLLOWS: 70% FOR US, 25% FOR YOU AND 5% FOR LOCAL AND INTERNATIONAL EXPENSES INCIDENT TO THE TRANSFER.
THE TRANSFER IS RISK FREE ON BOTH SIDES. I AM AN ACCOUNTANT WITH THE NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC). IF YOU FIND THIS PROPOSAL ACCEPTABLE, WE SHALL REQUIRE THE FOLLOWING DOCUMENTS:
(A) YOUR BANKER’S NAME, TELEPHONE, ACCOUNT AND FAX NUMBERS.
(B) YOUR PRIVATE TELEPHONE AND FAX NUMBERS – FOR CONFIDENTIALITY AND EASY COMMUNICATION.
(C) YOUR LETTER-HEADED PAPER STAMPED AND SIGNED.
ALTERNATIVELY WE WILL FURNISH YOU WITH THE TEXT OF WHAT TO TYPE INTO YOUR LETTER-HEADED PAPER, ALONG WITH A BREAKDOWN EXPLAINING, COMPREHENSIVELY WHAT WE REQUIRE OF YOU. THE BUSINESS WILL TAKE US THIRTY (30) WORKING DAYS TO ACCOMPLISH.
PLEASE REPLY URGENTLY.
Well the piece is written by Sam Smyth! That beacon of journalistic integrity and “journalist” of choice for leaked PD and FF stories. McDowell in particular was fond of feeding him info. to aid the persecution of another journo!
A class act!
Not only is this article spin, it’s blatant spin. When I read it I can’t help but think of that line from Hamlet “The lady doth protest too much, methinks”.
The clumsy attempt to shift all blame to Anglo’s senior executives is done with absurd contradictions. The claim that amazed me the most: one of the country’s most successful businessmen and entrepreneurs doesn’t understand shares and blindly follows the advice of salaried advisors. Waaaa??? If you believe that…
Check out the pathetic attempts to paint him a patriot, a hero putting the wellbeing of the Irish financial system ahead of any personal gain. Yeah, right!
And how about the attempt to deny collusion? It’s so clumsy its true nature obvious. It’s like his lawyer has just read “A Paint By Numbers Approach To Defending An Alleged Market Manipulator: Chapter 3 – No Matter What, Say You Acted Alone”.
Indeed. Worth keeping track of Sam Smyth’s roll in ‘media management’ throughout this scandal.
Well, that’s grand so. Nothing to see here folks.
Wealthy developer borrows money to invest in shares. Shares now worthless. Developer repays loan including interest and can claim CGT capital loss from taxman.