6 Irish Banks are Given Junk Status with Fine Gael and Labour uncovered as part of the Irish Golden Circle.
Cover-up and censorship of missing bailout billions is systematic in Ireland that includes Labour, Fine Gael, Irish media including British compliant Indymedia.
For example Nationwide under Mr. Fingleton gave his friend Sean Fitzpatrick a transfer totalling €228m to Fitzpatrick’s Anglo Irish Bank. This went on back and forth several times over a seven year period between the banks concealing from the auditors, shareholders and the Financial Regulator, that Anglo had a massive debt on its books.
Eugene McErlane, former internal auditor at Allied Irish Bank, claimed that the Regulator knew that AIB was boosting profits by cheating and overcharging its customers but lied to the state inquiry, that it only knew of this in 2004 when a whistle-blower went public. The Regulator disputes this.
Irish Life and Permanent (ILP) placed €4bn there, on precisely the same day the Irish bank guarantee was introduced. The deposit was made from a non-banking subsidiary, enabling Anglo Irish to enter it as a deposit by a customer, instead of a transfer from another bank. Anglo Irish kept it until the bank guarantee was safely in place and the €4bn was withdrawn just over a week later.
According to Willie McAteer, former Anglo Irish director, Paddy Neary the Financial Regulator chief executive, knew all about it and did not object. According to McAteer when talking about the €4bn switch to Neary six days before the transfer, in terms of “managing the balance sheet at year end”, Neary replied, “Fair play to you, Willie”.
There are continuous claims all of Ireland's that all of the three major political parties, had their snout in the crony trough all along going “Oink! Oink!” with grunts out for demands for more and more political donations. Fine Gael seems to have benefited most from the millions being fired around but refuse point blank to disclose any information about the millions pouring into their elections coffers from the offshore bondholder and banksters.
Its not all down to a few greedy Fianna Fail crooks, Labour and Fine Gael are up to their necks in it, while giving mild token opposition, allowing the illegal bank bailout was which not seriously challenged by the opposition. All of the political circle of the three major parties knew about the missing billions. The political corruption in Dublin is systematic. And the name of the game is shafting the culchie gobshites of Irish capitalism.
Moody's Downgrades More Irish Banks' to Junk Rating - Link