Gormley just told Marian that the decision to guarantee the banks was taken at a cabinet meeting the week before the guarantee. Is this news to anyone? Why was it not debated in the Dail?
News to me. What of the line that a decision had to be made on the hoof? And what then of the mystery men in the Dail on the night?
Marian asked him exactly what you have asked and Gormley said that the finer details of the decision were made that night but the decision to blanket guarantee had been made the week before! He was responding to a question as to why he was asleep for the whole night of the guarantee. This is huge news and I am amazed Marian didn’t make a bigger deal of it. Like everything to do with this Guarantee it stinks to high heaven! I will try and dig out the link for RTE and post shortly.
Nothing on RTE site yet. It may take a while to be put up there. Will keep checking. He definitely said that the decision to guarantee was made the week before! So someone is lying (no surprise there)!
Heard the interview and was also surprised as was Marion - he said (paraphrasing) that the decision wasn’t a snap one - it was discussed in the days prior, the call he got on the night in question was a courtesy one…
we need a knife in the back smiley.
It was subtle alright - but effective.
This is definitely new information. Suddenly it drags every member of the cabinet - including whoever FF’s new leader might be - into both the decision itself, and also into the cover-up that the decision was made that night.
Oh ho ho !
Minister Gormley said that the decision was made at a cabinet meeting on the Sunday with only the finer points to be ironed out!
So it was not just the Two Brian’s on a solo run it was a collective cabinet decision.
However as we now know the Government was lied to by the banks as to their true insolvent financial position. Why are those treasonous bankers who lied to the Government to save their own skin not now in jail?
So it was Premeditated.
Looks to me John Gormley is engaging in a public form of plea bargaining.
How do we know that exactly?
Gormley also said something about AngloIrish, something along the lines of illiquidity and insolvency and why it was not nationalised in 2008. We’ll find out whenever its uploaded.
edit: Interview now up rte.ie/radio1/marianfinucane/
Heard some of the interview alright and yes, he did say that the decision was made before the infamous night. I don’t understand why it has taken Gormless so long to come out with this. The Government have been spinning the line of BS that they were in a backs-to-the-wall position on that night and faced a banking crash within hours. This is clearly not the case after this and we have been misled - AGAIN…
was the decision made before Merrill Lynch were asked for a rather expensive opinion.
Lemmy &co.: “We’re going to do the cheapest blanket guarantee bailout ever”
ML: “We wouldn’t recommend that”
Lemmy &co.: “Ah, okay, we’ll call it the chapest blanket guarantee bailout so far then…”
Meetings with “bankers” on the Fri 26th, a Cabinet meeting at 10am on the Sunday, mysterious “private appointments” on the Monday…look even further back, a meeting with the (named) CEOs of AIB and BOI on Sept 4th but the Fri 26th meeting is with “bankers”…and when, exactly, was that report from Merill Lynch first commissioned? They delivered it on the 26th! Also, it appears that the night Lendahand arrived at McWilliams’ door stinking of garlic was the 17th!
The Guarantee was calmly and carefully planned over a period of weeks, not a panicked late-night emergency decision.
Clowen and Lendahand lied.
Same process for the IMF all preplanned, state agencies hijacked for maximum effect and pesudo legitimacy all the while in the shadows the cunning work their grander plan…
But the “finer” detail was the adding in of Anglo and INBS to the guarantee at the last moment against all considered advice. That “detail” is why the IMF now runs the country. I would not be too surprised if the name Anglo Irish is not mentioned once in the cabinet minutes.
AIB and BOI could have been firewalled without having to save Anglo. Would have meant going cap in hand to the ECB to get a Basel II exemption but that should not have been too difficult at the time if presented as just getting what the Spanish had.
Think of Ireland being bounced into the clutches of the IMF as a direct payback by Merkel for being forced into a hugely expensive German bank guarantee in late 2008 by what the Irish did a few weeks earlier.