By Liam Deegan
On the night of the bank guarantee 29 September, 2008, the banking system was saved over and above the needs of the citizens who were later to find that they were on the hook for billions of Euro and for what? Anglo Irish Bank and Irish Nationwide were both private banking institutions that had no need for the common man to enter through its hallowed doors (in the case of Anglo) and in the case of Irish Nationwide held the doors open for politicians to get easy loans.
So how does this scenario hook up with Denis O’Brien and Brian Cowen and why was Anglo bailed out to such an extent but no one at the top will take the blame for giving the order? Brian Lenihan isn’t here to defend himself against allegations made by Cowen that he alone (Lenihan) was responsible for bailing out Anglo and the Irish Nationwide Building Society.
What is fast becoming clear is that Cowen was and still is protecting someone and that someone doesn’t want the world to know how much protection was given to him hence the gagging order and the redacted judgement.
1.) Why was Denis O’Brien’s loans in Anglo / IBRC not bundled into a package ready for the vulture funds to chew over and why was Denis O’Brien’s property based loans not packaged and taken over by NAMA? Even the major property players had this done to them regardless of whether they were able to service their loans or not for the most part, so what was the deal and why the special treatment?
2.) Is this why Brian Cowen is now working for Denis O’Brien as a payback for protecting him by ensuring that O’Brien was kept out of the picture and his loans to the bank shoved safely into a dark corner of the bank?
3.) Is this why KPMG who were very well aware of the level of debt owed to the bank by O’Brien were recently sent back in not only to cover the current government but also to cover the backs of the previous administration for decisions made on the 29th of September 2008?
4.) If Denis O’Brien had not had the protection of certain ministers and had his loans been called in as was the case with everyone else who had loans with Anglo, then why was he not made bankrupt like the majority of property developers if he was unable to pay them back on demand should that have being the case?
5.) Most importantly – Who owns Denis O’Brien’s loans now that IBRC is liquidated?
Denis O’Brien released a statement tonight that said that he is very happy with the judgement and as a citizen was very happy to have had his privacy kept intact but he failed to say that his privacy has cost this country hundreds of millions of Euro and the rights and freedom of the media (the ones that he doesn’t own) to speak out when they know that something doesn’t add up.