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Discussion Starter · #1 · (Edited)
Now that Seán Quinn has been declared bankrupt Ireland's former richest man looks certain to follow his son and his on the run nephew into jail in the next couple of months following the liquidation today of key parts of the Quinn empire by the former Anglo Irish Bank (IBRC). It seems highly unlikely the Quinns will be able to recover the €500m in assets owed to Irish taxpayers or the €2bn owed to IBRC.


I do not feel one bit sorry for the Quinns. I do however find it extraordinary how a man who done so well for himself and his family creating a fantastic array of highly successful businesses would blow it all in share price manipulation with Anglo Irish Bank. Remember the bank's share price was falling in 2007 as investors began to get very nervous so Anglo lent a select number of very wealthy individuals billions of euros to buy up shares thereby artificially propping up the value. I mean why? Why blow it all on that one decision? It seems crazy. But he knew what he was doing and his family knew what they were doing trying to put assets beyond the reach of the bank at all costs. So IMO he and his associates deserve everything they get. Obviously the people in Co Cavan/Fermanagh disagree. He gave them so many jobs so that's alright then:nuts:
 

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Thanks for posting Odlum!

Well, I don't have a ounce of sympathy for him or his extended family.

Firstly, the investment in Anglo was simply a stupid gamble that went wrong. However, it was the Quinns attepmts to minimise their losses which really exposed their dishonesty.

Amidst all of the Spin and spurious arguements its often forgotten that they effectively pilfered the premiums of Quinn insurance to stem the flow of their own personal losses. The scale of the swindle is so great, E1.6 Billion, that for years to come everybody who takes out home insurance, renews car insurance etc will be paying a few Euros extra just to cover Quinns losses!

Furthermore, as if that wasn't bad enough they were exceptionally blatant in their attempts at moving money and assets offshore. And moreover, they have treated the legal system here with absolute comtempt! Its sickening to see supposed Republicans who until recently were in favour of a United Ireland now fully availing of the Border to evade their responsibilities!

But of course, as with most rural based miscreants they are playing "the Dublin elite are out to get me" for all its worth!

C
 
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