Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » Anglogate

Post new topic Reply to topic  [ 45 posts ]  [Go to page]   Previous  1, 2, 3, 4, 5  Next
Author Message
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Sun Sep 12, 2010 10:04 pm 
Offline
Holiday Home Owner

Joined: May 20, 2008
Posts: 343
Then there's the whole Iraq connection.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Sun Sep 12, 2010 11:43 pm 
Offline
Nationalised
User avatar

Joined: May 3, 2007
Posts: 12101
LOL Gavin :D , what Iraq connection ??? There was the IRA money laundering angle in the early 1990s of course but that was not the bank itself as much as their largest shareholder.

_________________
SEO Ireland. SEO Dublin.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Sun Sep 12, 2010 11:52 pm 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 11785
Location: Multiverse
Someone could say 'the alien connection' and, in the context of anglo, it could not be dismissed off-hand !


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 12:01 am 
Offline
Too Big to Fail

Joined: Jun 20, 2010
Posts: 3052
Boston wrote:
This is very interesting. I remember being in a meeting with Anglo executives about 4 years ago and the topic of Banking in Austria came up (cant remember why). One of tha anglo guys mentioned that when they bought the Austrian operation they expected the considerable deposits to leave over time but they never did. He mentioned that they were pay nearly no interest on the deposits to the customers, they just sat there earning nothing and no one ever transferred them from the Bank.

Very strange, I thought at the time.


Ha Ha :lol: Are you being serious? Was he winking when he told that tale?
A professional banker couldn't figure that one out?

It's either untaxed money from rich Germans or really dodgy money from Italy.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 12:03 am 
Offline
Holiday Home Owner

Joined: May 20, 2008
Posts: 343
2Pack wrote:
LOL Gavin :D , what Iraq connection ??? There was the IRA money laundering angle in the early 1990s of course but that was not the bank itself as much as their largest shareholder.


Nope not that :wink:


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 12:47 am 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 11785
Location: Multiverse
gavinsblog wrote:
2Pack wrote:
LOL Gavin :D , what Iraq connection ??? There was the IRA money laundering angle in the early 1990s of course but that was not the bank itself as much as their largest shareholder.


Nope not that :wink:



Image

Ve have vays of making you talk Gavin !


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 4:42 pm 
Offline
Under CAB Investigation

Joined: Feb 14, 2008
Posts: 1925
Quote:
In short, FitzPatrick chose to sell an Austrian bank with a €600 million deposit book in September 2008, even though the bank was under enormous pressure on the funding front. Remember, it was in the six months leading up to September 2008 that Irish Life & Permanent controversially assisted Anglo in creating the impression that Anglo’s balance sheet was stronger than it actually was.

Indeed, it seems that FitzPatrick was so anxious to flog the Austrian business that he was even prepared to lend Valartis some of the money to buy the business from him

http://www.sbpost.ie/post/pages/p/wholestory.aspx-qqqt=THE+INSIDER-qqqs=themarket-qqqsectionid=3-qqqc=3.7.0.0-qqqn=1-qqqx=1.asp


Seannie selling customer deposits when the anglo group later that month would do a dodgy transaction with ILP to turn interbank loans into customer deposits (still no arrests!).

There is a possibility that people, who owe Anglo money, have stashed money in this Vienna operation. And whereas these borrowers may pass losses to the taxpayer, they could have their secret funds safely tucked away.

You won't get this information from Valartis, though it may be possible to run a query on Anglo's transaction database to identify transfers to the vienna bank.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 5:11 pm 
Offline
Too Big to Fail

Joined: Feb 21, 2008
Posts: 4425
2Pack wrote:
LOL Gavin :D , what Iraq connection ??? There was the IRA money laundering angle in the early 1990s of course but that was not the bank itself as much as their largest shareholder.


Albert Reynolds and associates and the Oil for Food program....


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 5:17 pm 
Offline
Too Big to Fail

Joined: Feb 21, 2008
Posts: 4425
BlameGame wrote:
Boston wrote:
This is very interesting. I remember being in a meeting with Anglo executives about 4 years ago and the topic of Banking in Austria came up (cant remember why). One of tha anglo guys mentioned that when they bought the Austrian operation they expected the considerable deposits to leave over time but they never did. He mentioned that they were pay nearly no interest on the deposits to the customers, they just sat there earning nothing and no one ever transferred them from the Bank.

Very strange, I thought at the time.


Ha Ha :lol: Are you being serious? Was he winking when he told that tale?
A professional banker couldn't figure that one out?

It's either untaxed money from rich Germans or really dodgy money from Italy.


Italian money goes to Switzerland, Slovenia, Croatia and Malta. German money to Switzerland, Luxembourg and the Netherlands. Lichtenstein used to be the preferred final resting place for German money but those days seem to be over. Austria is for the Eastern Europeans and money that needs to buried deeper than is possible in Switzerland.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Sep 13, 2010 6:41 pm 
Offline
Nationalised
User avatar

Joined: May 3, 2007
Posts: 12101
CaveCanem wrote:

There is a possibility that people, who owe Anglo money, have stashed money in this Vienna operation. And whereas these borrowers may pass losses to the taxpayer, they could have their secret funds safely tucked away.

You won't get this information from Valartis, though it may be possible to run a query on Anglo's transaction database to identify transfers to the vienna bank.


That query would be exactly what I have in mind, I would run a further set of queries on funds that magicked out of that bank into Anglo over the years and for whose benefit.

_________________
SEO Ireland. SEO Dublin.


Top
 Profile  
 



Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 45 posts ]  [Go to page]   Previous  1, 2, 3, 4, 5  Next

    Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » Anglogate

Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com