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The Lucky 11

Ivor Callely resigned from Fianna Fail before his party had a chance to deliver a verdict of ‘conduct unbecoming’ upon him. But he will remain a member of Seanad Eireann until its term expires because there is no mechanism whereby his peers can give him the boot. The Seanad Committee investigating the various controversies surrounding [...]

Why do we have NAMA and Anglo Irish Bank as separate institutions?

The latest NAMA loan transfer data – completion of “Tranche 2″ with Anglo loans — is out.  The discount on the Anglo loans is 62 percent.  Bloomberg News had a good quality leak over the weekend.  Since the discount includes the “long-term economic value” that NAMA adds to each loan, the implied value of the [...]

In another republic

Minister engages in excessive expenditure for private jet citing pressures of schedule and lack of commercial options to attend an event.  Resulting public outcry causes minister to resign before he is sacked. It’s France, last month, when the aid minister Alain Joyandet chartered a jet to go a donors conference for Haiti — conveniently located [...]

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