Scandal Stuns Ireland: Banks Swindled Billions To Save Worthless Assets; Vulgar Details Caught On Tape!

• Scandal Stuns Ireland: Banks Swindled Billions To Save Worthless Assets; Vulgar Details Caught On Tape! 
  by http://larouchepac.com/
  Monday morning Ireland was rocked by an article in the Irish Independent by investigative reporter Paul Wilson, which included on the Independent’s online edition, audio recordings of two Anglo-Irish bank senior managers’ laughing, vulgar discussion about how they were luring the Central Bank and ultimately the taxpayers, into giving the bank billions of euro.
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  Wilson, an award winning crime reporter wrote: “The audio recordings are from the bank’s own internal telephone system and date from the heart of the financial crisis that brought the State to its knees in September 2008. Anglo itself was within days of complete meltdown and in the years ahead would eat up 30bn of taxpayer money. Mr Bowe, one of the managers, speaks to another manager, Mr Fitzgerald, about how the State had been asked for 7 billion euro to bail out Anglo—but Anglo’s negotiators knew all along this was not enough to save the bank. The plan was that once the State began the flow of money, it would be unable to stop”
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  In the tape you hear Fitzgerald asking Bowe how he’d had come up with the figure of 7bn. Bowe laughs saying: “Just, as Drummer (then-CEO David Drumm) would say, ‘picked it out of my arse’.
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  The managers strategize about Anglo’s strategy which was to lure the State in, leaving taxpayers with no choice but to continue to provide loans to “support their money”.
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  Bowe says, “If they (Central Bank) saw the enormity of it up front, they might decide they have a choice. You know what I mean? “They might say the cost to the taxpayer is too high . . . if it doesn’t look too big at the outset . . . if it looks big, big enough to be important, but not too big that it kind of spoils everything, then, then I think you have a chance. So I think it can creep up.”
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  Fitzgerald answered : “Yeah. They’ve got skin in the game and that is the key.”
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  Anglo Irish Bank was nationalized in 2009, and was the initial trigger for the Troika bailout in 2010, the fall of the Fianna Fail government, and the hatred of Irish citizens for the present, unstable Fine Gael/Labour Coalition government which has gone overboard in carrying out the Empire’s murderous austerity demands.
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  There have been arrests of officers of the zombie bank over the years, but only for individual fraud in insider trading bank loans. The Gardai (police) have been investigating these cases, but very few have been tasked to carry on the investigation. Sources believe the police released the secret tapes to Wilson out of their own disgust with the government for cutting their budget, closing police stations etc .
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  There has been discussion over the years about the need for an investigation on the whole banking crisis but nothing has been done about it. Taoiseach Enda Kenny said on Monday that he understood the rage of the citizens and that there would be an investigation, but then he talked about the channels such an investigation would have to go through. People are furious at his statement and similar ones from other government ministers. There have been calls for more immediate investigations and for referendum giving real teeth to such an investigation.
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  The LaRouche Irish Brigade  LPAC’s co-thinker group in Ireland, is in discussions with leading figures about a real Pecora Commission.

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