Originally posted by EyrecourtCowboy:
If you wouldn't mind, and if you have time, could I get a knowledgeable synopsis of what has went on?

Originally posted by EyrecourtCowboy:
So I'm supposed to believe that Anglo are totally free of all blame in this and Sean Quinn is totally wrong.

Originally posted by FTJC:
Very simplistic...Sean Quinn looked to borrow a shed load of moneyThe bank, in their inate wisdom, decided the investments were sound and gave him the money
Sean isn't able to re-pay the 2 BILLION the bank gave him and won't give the properties backAlot of s**tehawking went on in between but basically a bank lent money to a man that was never going to be able to personally cover the debt....sound familiar????

Originally posted by Blanco:
It may not be that simplistic , the borrowed money was to buy shares in that said bank, the Quinns are now arguing that the shares were illegally manipulated by the bank to make them look a safer bet than the were.But as it stands now you are right , Quinn's borrowed money to buy shares and signed personal guarantee's,I think it was his children who actually borrowed the money as Quinn himself has nothing in his own name.The bank now want all the Quinn assets to try and settle some of the debt but the Quinns are trying their best to hide these assets and give the bank nothing. This is what they have been found guilty of so far.The court case by the Quins's against the bank is due to start early next year and as someone said this morning on the radio it is probably the closest thing we Will get into a public investigation of Anglo.The Quinns will argue and try and prove that Anglo illegally manipulated the shares to make them look a better bet with the full knowledge of the regulator , senior civil servants and indeed some Government ministers, all these may be called as witness's, if the Quinn's win they could be in line for a multi billion pay out from the state.

Originally posted by EyrecourtCowboy:
So I'm supposed to believe that Anglo are totally free of all blame in this and Sean Quinn is totally wrong.

Originally posted by South Limerick Referee:
Are the other sinners regarding repayment of significant millions of euro going to get the same treatment as the Quinns? If you lower the cutting bar, surely it should be lowered for all. Or is it as case of all men being equal but some are more equal than others??

Originally posted by Blanco:
There seems to be total inaction on other major debtors including those who used to work for and indeed run Anglo.They were saying this morning that if one had a cynical mind they may come to the conclusion that the reason Anglo seem to be very persistent with this and not others, was because they were trying to ensure that the Quinn's were totally ruined so as they could no afford to bring their case against Anglo.I think it is right they go after the Quinns , but they should not be an exception, other big gamblers or developers as they call them should be getting the same treatment.

Originally posted by rebelrebel30:
One word...."Greed".

Originally posted by Red Pepper:
Anglo is now owned by the state so in essence the Quinn's are trying to scam the taxpayer. They took a gamble and lost. They need to man up and take it on the chin.

Originally posted by Hitch:
So then it's the State (us) who are taking the Quinn's to court?

Originally posted by Blanco:
The Quinns will argue and try and prove that Anglo illegally manipulated the shares to make them look a better bet with the full knowledge of the regulator , senior civil servants and indeed some Government ministers, all these may be called as witness's, if the Quinn's win they could be in line for a multi billion pay out from the state.

Originally posted by EyrecourtCowboy:
So I'm supposed to believe that Anglo are totally free of all blame in this and Sean Quinn is totally wrong.

Originally posted by Yojimbo:

While the Quinns were greedy, and hubris played no small part in Sean Quinn's bid for Anglo, the fact that he's not part of any Dublin-based 'Golden Circle', whether real or 'theoretical', not only told against him in his bid, but most likely also meant that he would be the one to be made example of, as 'evidence' that the State were pursuing the main players in the collapse of the Celtic Tiger.I wonder will we ever know to what extent Nama has chased down, or punished, any developers/bankers/politcians who had assets salted away/transferred to family members, etc, etc, in order to put them beyond the reach of the State, or make it unviable to chase them

Originally posted by rebelrebel30:
Well what i would like to know is this jimbo..1) staff in NAMA - previous job and role in banking in ireland prior to setting up of this agency and current renumeratioin. I suspect most are people who were on the other side of the fence in the good years. Allegedly theirs an estate agent who was a key figure in irish society creamy the prices in the boom whos now the lad responsible and advising NAMA on the prices of properties alledgely. 2) Why do we pay developers 200K to "manage their loans". That just doesnt sit with me no matter what story Frank Daly ( ex Revenue Commissioners") tries to sell me.

Originally posted by rebelrebel30:

2) Nobody put a gun to their head to invest, i assume being aged over 18 they were of sound mind making this investment.

6) If we are to blame anglo then where do you stop? could anyone blame a bank for lending them money for which now they cant either payback or wont payback. Next you will have lawyers saying like Mrs Quinn tried that their clients hadnt a clue what they were signing and thus shouldng now be responsible for paying back their loan. Thats in reality what the quinns are trying to do now.

Originally posted by loughcurraman:
The nephew being caught on video saying that he would have no problem with telling lies in court if it came to it in order to protect the assets it would seem is one of the main reasons why the judge took such a poor view of their actions.

Originally posted by kilkennycat2004:
Anyone who has renewed home or car insurance over recent weeks will be aware of the impact of the Quinn family on the rest of the country.
A loading will be applied for the next 15 years on the back of these cowboys.
Mighty Quinn certainly does not apply to these professional gamblers.