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“We used to provide Irish developers with loan terms, but insist of due diligence. They would then go off to Anglo Irish and be given the cash with no need for any paperwork”
As told to UK property expert Peter Bill.
Incidentally, he thinks that it’s former Central Bank governor John Hurley who has big questions to answer on the Anglo nationalisation.
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As far as I can see a list of those with “questions to answer” should read like a list of who’s who in Ireland.
For example we now know that Mr Cowan the Minister for Finance while the worst excesses were going on claimed not to know in advance that our current difficulties were down the road. Yet as soon as the scam (as we now know it) could not be hidden any longer he had the solution in great detail, “the only game in town”, which the government has pursued relentlessly ever since.
So we have a man who it seems still cannot see how the the problem arose but he is adamantly clear about the solution which seems to me to be more of the same i.e. transfer the wealth from the poor to the rich through low taxes, cuts in wages, longer working hours etc.
Unbelievable!!!
I also think that the Central Bank’s role is worthy of greater attention, which the Neary witch-hunt, perhaps not by accident, has diverted. Constantin G., if I am not mistaken, has said that Hurley simply *did not realise* the extent of his own powers to prick the bubble, which is well-nigh unforgiveable, if true.
However, Peter Bills’ authority to comment on the matter does not survive a visit to his website.
P.S. It is *so* nice to be able to comment on a post by P O’Neill – he does not permit it on his own site