War profiteering group to buy into Bank of Ireland

national | anti-war / imperialism | press release

Wednesday November 26, 2008 16:56

by brendan Butler - ngo peace alliance

brendan13 at eircom dot net

WAR PROFITEERING GROUP TO BUY INTO BANK OF iRELAND

PRESS STATEMENT

‘The NGO peace alliance, is alarmed by the Irish Government’s readiness to further allow our sovereignty to be eroded by handing over a major part of the Irish banking system to the Carlyle group , one of the most powerful and war profiteering companies in the western capitalist system’ stated Brendan Butler Co-ordinator of the NGO Peace Alliance

The Mallabraca consortium involved in discussions both with Irish government and the Bank of Ireland includes the Carlyle group , one of the world’s largest private equity funds , worth approx. $160 billion , and is reckoned to be one of the most important drivers of the world’s economy using its vast venture capital to buy and sell organisations for enormous profit.
However, what makes the Carlyle group a totally unacceptable possible part owner of Bank of Ireland from a human rights point of view is its vast intricate links with the U.S arms , intelligence and security industry ; its board of directors reads like a who’s who of the powerful political figures of our age ; ex U.S president George H. Bush , ex U.S secretary of State Baker, Ex defence secretary Frank Carlucci , assistant head of the C.I.A., and ex prime minister of Britain , John Major , amongst others . Through these political contacts the Carlyle group have managed to obtain lucrative contracts with The U.S Department of defence for its vast network of related companies and once the contracts are acquired the companies are then sold on for enormous profit. At one stage this war profiteering company was the tenth largest U.S defence contractor and among the largest defence contractors in the world. Prior to nine eleven their biggest investors were the Bin Laden family together with the Saudi Royal family who were given special Presidential permission from George Bush to leave America immediately after 9/11 eventhough all civilian aircraft had been grounded.
The Irish Government must be aware of this ruthless operating company which will use every means and opportunity at its disposal to increase its profits. Companies like the Carlyle group should not be offered a stake in the Irish banking system . If the Irish banking system needs capitalisation then the Irish Government should invest use public money and so gain transparency and accountability for the Irish public. Surely there’s profit to be gained even in the short term from the Irish banking system if the Carlyle group is ready to invest.

Further information
Brendan Butler NGO Peace Alliance 134 Phibsboro Road , D. 7 086405469