Tomorrow’s Indo is leading with a story that Sean Fitzpatrick is not making payments on his loans with Anglo Irish. He has borrowings of circa €100million with Anglo Irish and an interest bill of €400k a month but no payments are being made.
the bourgeoisie can’t be seen to pay interest. That’s for the little people. What use is cronyism if it can’t offer non-recourse. Afterall perma-tans don’t come cheap. Oops forgot he gets discounted flights from aer lingus. Think i’ll go eat cake.
Well FF did tell you that the bankers with big loans would be treated like every other individual with a big loan in the state. Everyones getting bailed out so the the banksters off too.
Aye, the plane to oblivion has pushed off, the engines are ready and they are waiting for their slot to take off, Miriam O Callaghan is serving drinks to all and smiling, the passengers are not concerned as the x factor is on their plane tvs, there are a few desperately trying to get off but Seanie Fitz and Fingers are manning the door, and their is a fat lad with a stink of Tullamore Dew wondering what all the buttons do… meanwhile there is Bertie selling lottery cards to people…
The question that fascinates me is why bankers got involved in these investments. S. Fitz was making enough money and had enough power and prestige without these gambles. The bankers are the ones who are supposed to keep creaming their share off the top while others take risks. I think that there should be regulatory rules and contractual stipulations affecting bank executives personal investments.
I was listening to one behavioural economist recently (can’t remember his name) who said that a lot of top bankers made mistakes and failed to regulate reckless lending because of stupidity as much as because of greed. He suggested that a lot of top executives were promoted for reasons other than intelligence. The tide has gone out and there is a distict lack of shorts with MENSA logos.
I think S. Fitz’z health will likely start to suffer soon (please no glee). The stress of your whole world imploding and the knowledge that you are being groomed as a political scape-goat must be unbearable. Add to that the ODCE investigation. At this stage he should either invest his remaining money in a brilliant legal team or a flight to Venezuela. Many ordinary people’s worlds have fallen apart too and they are going through similar stress. Maybe S. Fitz. will now understand how that feels and why people are so furious.
From the public’s point of view, at least they can expect to see one of the people most associated with the disaster walk away with nothing even if no criminal charges are brought. Cold comfort but better than nothing.
You seem to believe that Anglo was a bank. It’s “business model” has little to do with banking. It’s banking license merely facilitated operations which look nothing like ordinary retail or commercial banking.
This goes way beyond Sean Fitz. It goes to the core of government and FF governance in this country.
How is Fitzpatrick a scapegoat ?? A scapegoat means he’s not guilty of anything and is paying the price for others - in this case he owes the money ! The scapegoat is the fucking taxpayer !
