Interested in maladministration. Estd. 2005
RTEs Sarah McInerney ? Fianna Fail supporter? Anthony
Joe Duffy is dishonest and untrustworthy Anthony
Robert Watt complaint: Time for decision by SIPO Anthony
RTE in breach of its own editorial principles Anthony
Waiting for SIPO Anthony Public Inquiry >>
Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.
Julian Assange is finally free ! Tue Jun 25, 2024 21:11 | indy
Stand With Palestine: Workplace Day of Action on Naksa Day Thu May 30, 2024 21:55 | indy
It is Chemtrails Month and Time to Visit this Topic Thu May 30, 2024 00:01 | indy
Hamburg 14.05. "Rote" Flora Reoccupied By Internationalists Wed May 15, 2024 15:49 | Internationalist left
Eddie Hobbs Breaks the Silence Exposing the Hidden Agenda Behind the WHO Treaty Sat May 11, 2024 22:41 | indy Human Rights in Ireland >>
Porsche Scraps Electric Car Targets as Demand Slumps Tue Jul 23, 2024 19:43 | Will Jones Porsche has scrapped its sales targets for EVs amid a slump in demand. A previous goal of 80% by 2030 has been watered down and the company now says sales will depend on uptake and how the technology develops.
The post Porsche Scraps Electric Car Targets as Demand Slumps appeared first on The Daily Sceptic.
?Mission-Driven? Government is the Antithesis of Liberty Tue Jul 23, 2024 17:30 | Dr David McGrogan Labour is "mission-driven", says Keir Starmer. But the last thing anyone should want is a Government with a mission, says David McGrogan. That's because a Government with a mission needs conscripts. That's you and me.
The post “Mission-Driven” Government is the Antithesis of Liberty appeared first on The Daily Sceptic.
Victory! Hospitals That Brought Back Mask Mandates Backtrack After Complaints Tue Jul 23, 2024 15:30 | Dr Gary Sidley A victory in the mask wars! Two hospital providers that brought back mask mandates have backtracked and scrapped them following complaints from Daily Sceptic readers and Smile Free supporters.
The post Victory! Hospitals That Brought Back Mask Mandates Backtrack After Complaints appeared first on The Daily Sceptic.
Read it and Weep: The BBC Journalists Taking Home Six Figure Salaries Courtesy of the Licence Fee Pa... Tue Jul 23, 2024 13:45 | Will Jones Read it and weep: the list of the BBC journalists taking home six figure salaries courtesy of the licence fee payer. Disgraced presenter Huw Edwards came top with £475k despite being off air for nine months of the year.
The post Read it and Weep: The BBC Journalists Taking Home Six Figure Salaries Courtesy of the Licence Fee Payer appeared first on The Daily Sceptic.
David Lammy: The Foreign Secretary Who Called Trump ?a Racist KKK and Nazi Sympathiser? and Refuses ... Tue Jul 23, 2024 12:43 | Peter Harris Britain's new Foreign Secretary, David Lammy, is on record calling Donald Trump "a racist KKK and Nazi sympathiser" and has refused to apologise. This is clearly going to be a problem, says Peter Harris.
The post David Lammy: The Foreign Secretary Who Called Trump “a Racist KKK and Nazi Sympathiser” and Refuses to Apologise appeared first on The Daily Sceptic. Lockdown Skeptics >>
Voltaire, international edition
Netanyahu soon to appear before the US Congress? It will be decisive for the suc... Thu Jul 04, 2024 04:44 | en
Voltaire, International Newsletter N°93 Fri Jun 28, 2024 14:49 | en
Will Israel succeed in attacking Lebanon and pushing the United States to nuke I... Fri Jun 28, 2024 14:40 | en
Will Netanyahu launch tactical nuclear bombs (sic) against Hezbollah, with US su... Thu Jun 27, 2024 12:09 | en
Will Israel provoke a cataclysm?, by Thierry Meyssan Tue Jun 25, 2024 06:59 | en Voltaire Network >>
|
Peter Sutherland: Vampire Squid?
national |
anti-capitalism |
other press
Sunday October 17, 2010 23:27 by Marcus McSpartacus
![Report this post to the editors Report this post to the editors](../graphics/report.gif)
Are Irish Taxpayers About To Bail Out Goldman?
Is Peter Sutherland Stealing From His Own People To Give To The Vampire Squid? From Zero Hedge:
http://www.zerohedge.com/article/are-irish-taxpayers-ab...e-vam
With the recent nationalization of half of the country's six big banks, and the blanket guarantee over the rest of them, the Irish government has effectively made sure that bondholders in all banks, even those which such as long insolvent Anglo Irish bank will be made whole by the long-suffering Irish taxpayers...
Yet what is amusing is that in between the cracks of exclusively European-bank based senior and subordinated bondholders in such bankrupt banks as Anglo-Irish, a familiar name emerges: Goldman Sachs...
Guido Fawkes, who managed to obtain the Anglo Irish bondholder list, shares the following commentary:
Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators. The Irish people are taking losses that should rightly have been shouldered by bondholders.
Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults. That is the risk investors take.
So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about.
Between them they hold Anglo-Irish bonds with a face-value of €4,034,756,880. Shouldn’t they take the hit rather than future generations of Irish taxpayers? Capitalism is a system of profit and loss, they took the risk of investing in Anglo-Irish Bank. Is the Irish government under pressure from the European Central Bank in Frankfurt to protect German investors?
...we would like to add Goldman Sachs to the list of bailoutees. Surely, few firms in the world deserve to be redeemed as much as god's little helpers...
Little else that can be added here... except for this amusing anecdote of another Goldman Sachs International Chairman, one Peter Sutherland, former Ireland attorney general and EU commissioner who just so happens was a chairman of British Petroleum (remember those guys?) previously. To wit from the Irish Times:
[Sutherland] and [recently heckled] Lenihan have remained in contact through the financial crisis. On one occasion, Sutherland visited Lenihan to tell him what a great job he thought he was doing and to say that Lenihan had the potential to be one of the great taoisigh of the 21st century. Lenihan was taken aback, he says.
Surely, this great son of Ireland, who obviously has Lenihan in his back pocket, is in active negotiation on behalf of his current employer, Goldman Sachs. Yet something tells us Mr. Sutherland will be the last person to share light on Goldman's twilight relationship vis-a-vis the Irish government...
Lack of revisionism is not too surprising coming from a person whose personal, and future, fortune, is based on the past generosity of American, and now Irish taxpayers. Because his wealth is certainly not due to his skill at anything related to his actual career:
Sutherland was also a board member at Royal Bank of Scotland (RBS) during the financial meltdown when the UK bank collapsed into state arms after a frenetic, debt-fuelled growth. Of the bank’s 2007 role in the €71 billion acquisition of Dutch bank ABN Amro, the biggest ever banking takeover, Sutherland says it made “the mistake of buying at precisely the wrong time when the world was falling off the back of a bus”.
Perhaps instead of driving trucks full of cement into Parliament, Irish taxpayers can be a little more proactive, and ask one of their most respected "leaders" just on whose behalf he is working on in this latest bailout, which could easily be Ireland's last.
More Goldman Sachs shennanigans (the original "vampire squid" description) at:
|
View Full Comment Text
save preference
Comments (7 of 7)