Author: Mark Coughlan

Letter in Saturday’s Irish Times…

A chara,

I write to voice my concern about the future of this country. I am sitting on the steps of the Department of Justice & Law Reform, the sun is beating down on my shoulders and I write to expel a dark thought from my mind. What is to become of the disenfranchised generation of Irish citizens whose future happiness and prosperity in this country has been cast in great black shadows by the criminal activities of our financial institutions and the gross mismanagement of our national affairs by our trusted Government?

Like so many other young Irishmen and women, my partner and I have decided to leave Ireland to live and work in another country. I came to the city today to prepare some things for our trip and to say goodbye to the capital for a while, to soak in some of her unique flavour before departing for Perth in Australia. What is it that makes Ireland a special country? What are the deepest moral values that are the foundations of Irish society? As I walk, thinking about Minister for Finance Brian Lenihan’s recent announcement of the country’s national debt (death?) I was deeply concerned not that I no longer knew what this core moral value might be, but saddened to find that I no longer care.

Seemingly, the woeful economic state we find ourselves in is merely a symptom of a far more threatening problem – a spiritual or existential crisis at play in Irish society. My own sense of moral apathy makes me think a deep wound has been inflicted by the bankers’ greed and it is not in our pockets but sadly in the collective heart of the Irish people. We can endure the toxic financial wreck that is Nama’s balance sheet, the grossly unfair debt saddled so abruptly on honest, hard-working tax-payers.

We cannot endure however, the sheer sense of injustice and the total loss of moral law at the filthy hands of these so-called rogues and sleeveens (it is equally disheartening to see we have had cause over the years to establish a colloquialism to best describe such recurrent characters in Irish society).

An example has been set by the leaders of this country that their selfish and cynical behaviour is an acceptable discourse in modern Ireland. Our potential to act meaningfully and righteously in this society has been shrouded in this cynicism by the greedy, ignorant brutes that head our banks and by the lacklustre unimaginative politicians that sit in our Government offices.

As a young able man I am ashamed that my chosen course of action is not violent protest (there should be rioting in the streets outside Dáil Eireann and Anglo Irish Bank); rather I choose to leave the wreckage – feeling as if a bully has just entered the playing field, burst the ball and walked away.

Sitting outside the Department of Justice Law Reform, whose steps feel like empty totems of the now laughable notion of justice, I think that the task at hand is not to set the country’s financial institutions back on track. It is to inspire an entire generation of skilled workers leaving our shores to return at some point to rebuild Ireland in the spirit of honesty and hard work, with a belief in our ability to live for the prosperity of others as well as ourselves. – Yours, etc,

BEN MULLEN,

Raheen Park,

Bray, Co Wicklow.

Wexford-based blogger Guido Fawkes – who usually focuses on the goings-on in Westminister – has published what he says is “the list of foreign Anglo-Irish bondholders as at the close of business tonight.”

That’s a pretty refined sentence. He doesn’t mention if they’re senior or sub-ordinated, though you’d guess at sub. Nor does he say if there is a corresponding list of Irish-based bondholders, though you’d presume there has to be.

Also, it’s only €4bn of €30bn and many are funds probably running accounts for clients.

Still, it seems he has figures – some damn important context – for each one published too, so if you’re interested stay tuned there.

Of course TheStory would be interested in any similar information also! Props to Guido on obtaining the list assuming it stacks up.

Here’s a slight re-ordering/re-wording of the bottom-of-the-page story that appears of page 4 (the In The Courts page) of this morning’s Irish Times…

‘Judge compares incident with Garda to infamous US beating’

A JUDGE has compared an incident between a Garda and a member of the public to the Rodney King beating in Los Angeles.

Garda Curtis (23) of Ardee, Co Louth, had pleaded not guilty at Dublin Circuit Criminal Court to assault and assault causing harm to John Paul Maughan (19) on Alexandria Road in the Dublin Docks on July 11th, 2009.

Referring to the CCTV recording of the incident, Judge McDonagh said: “On first viewing one is reminded of the Rodney King beating.”

“Self control was sadly lacking”, he told the court in the absence of the jury. “This to me is a case of a single garda overreacting.”

He also questioned why gardaí decided to smash the car’s windows instead of waiting for Mr Maughan and his accomplice to get out when Mr Maughan was clearly not going to escape after the stolen vehicle crashed.

During the five-day trial, the jury heard from several Garda witnesses that Garda Curtis had used justified force.

Referring to other gardaí who gave evidence, Judge McDonagh said: “I do not believe his colleagues bathed themselves in glory either. Too much of the evidence in this trial was clearly partisan.”

On Tuesday the jury was shown footage of the moment when the car crashed and Mr Maughan was dragged out. Some 15 gardaí arrived on the scene and a garda could be seen striking the suspect with his baton.

Several gardaí gave evidence that Mr Maughan was kicking out violently during the arrest.

Garda Gerard Curtis was found not guilty by direction of Judge Donagh McDonagh after he ruled that the prosecution failed to disprove the garda was acting in self-defence when he hit the suspect with his baton after a car chase.

And so it ends. We’ll probably never know if the Garda was/is disciplined, moved, re-trained, questioned internally… An Garda is a black hole of information.

Like some other organisations…

Previous posts on An Garda on this site:

OECD/Transparency International report on Ireland

New details relating to the Terence Wheelock case

Deaths in Garda custody

FOI and An Garda: And again, I quote from that link…

All that is needed for An Garda Síochána to come under FOI is the signature of Finance Minister Brian Lenihan, and some regulations to be implemented. Then we can take our place among such nations as Moldova, Georgia and Azerbaijan as a country that allows citizens to request information from their police force. The Gardai must be brought under FOI as a matter of urgency.

Heh.

Check out the third table.

Really, all we need is some positive thinking and the meeja to stop talking down the economy. We’ve already turned a corner, don’t you remember?

Sigrún Davíðsdóttir, London Correspondent with RUV, the Icelandic RTE…

For an Icelander the demise of the Irish banks has a strong resemblance to what happened in Iceland. The huge difference is that Icelanders know a lot more about banking in Iceland thanks to the fantastic report of the Althingi Investigative Commission. So far, the Irish only have sporadic insights into their banks and their relations to big investors and clients…

Read it in full.

Transparency? Democracy? Heh.

Bottom of the main business page from Friday’s Irish Times…

[Tazbell Holdings/Group] has won a tender from the Department of Justice to manage “the collection of overdue court-imposed fines”.

The contract, won by Dublin-based Tazbell, involves managing the collection of unpaid court fines through “proactive contact attempts” with the debtor. This will include “traditional credit management methods”, such as letters, phone calls and e-mails.

As the article also states, Tazbell is owned by Derek Quinlan, the well-known financier who’s currently selling his property on the exclusive Shrewsbury Road. He’s one of the top ten property investors heading into Nama via one of his other companies, Avestus.

The parent company over all his enterprises is registered on the Isle of Man. In August last year Quinlan took up permanent residence in Switzerland for “tax and personal reasons“.

Quinlan is also a director in Park Rite, which runs many of the car parks around the nation’s cities (Dublin alone: Arnotts, City Quay, Tallaght Hospital, St James’s Hospital, Fleet Street in Templebar, Mount Carmel Hospital, Parnell Street and a few more). On top of that Park Rite is the parent company of Dublin Street Parking Services. DSPS is an unlimited company not required to file accounts with the CRO. However, the Dublin City Council budget for 2009 shows that DSPS was paid almost €10m that year for “clamps, removals or car relocations” by the Council. It’s a clamping company contracted by the Council.

Quinlan – via Tazbell – also now has the contract for court fine debt collection. Oh, and he collects the toll on the M4-M6 motorway too via another company (a public-private partnership construction), in case you’re passing through.

So you can either pay to park with Tazbell or get clamped. Or you park in the pay-and-display… though you should be aware that if you overstay and catch a fine it’ll be Tazbell that’ll force you to cough up. Or park in one of the smaller car parks if you can find one… and good luck doing that as you rush into Tallaght Hospital, St James’s, Mount Carmel or University College Hospital Galway.

All the while he pays tax in Switzerland, bases his parent company in the Isle of Man as the taxpayer – the same one he’s clamping, charging and chasing for fines – takes on his loans through Nama.

Larrrrrvley innit?

Audio recording of the so-called ‘Chimpgate‘ conference call between Brian Lenihan and 300 investors arranged by Citibank is embedded below. The audio quality is awful, anyone who can clean it up get in touch and I’ll send you a copy. I advise use of the best headphones you can get your hands on, the sound gets really bad at points but you can make out most of it…

EDIT: First posted on Zerohedge. Downloaded and sent on to us by a friend of the blog. Seems this is the second 45 minutes of the call following problems with the first half (which supposed included the heckling)…

Zerohedge claims…

And while Ireland is still refusing to acknowledge that anything out of the ordinary happened [regards heckling], and Citi has most certainly deleted any copies of the first part of the conference call, the second part of the call was obtained by Zero Hedge. What is obvious from the call is the extreme sensitivity the operators and organizers have toward any open line, while proffering extreme apologies for the confusion that was prevalent on Part 1 of the call, which apparently lasted for 45 minutes (the entire call ended up being one hour thirty minutes, after it was supposed to be half that duration).

The Q&A starts at 9 minutes, prior to that it’s mainly John Corrigan of the NTMA and Minister Lenihan reeling off their standard lines. 45 minutes in total.

If the audio bar isn’t working try this link.

I’m no expert on this topic but perhaps others may have a interest in a listen.

Business hacks and bloggers say the first half of the call is never likely to emerge.

Now, can we as a society chill on the use of ‘-gate’? Puh-leez.

I’m in the process of reading and annotating the C&AG report for 2009, which was published about two weeks back. It’s about 600 pages in total and written in a way that makes understanding a chronology of events quite difficult. It’s taking a while.

On page 314 (vol. 2) in the ‘Leasing of Social Housing’ chapter the C&AG notes the Department of Environment’s comments on the poor up-take of a new leasing scheme. This scheme is an initiative similar to the Rental Accommodation Scheme and became available in 2004. The difference between it and the RAS is it focuses on long-term leasing of private rented housing and is available to all in need of social housing support not just people in receipt of rental supplement for more than 18 months.

“The department believes the slow uptake is due to uncertainty in the property market and the inclusion of a large number of property owners in the NAMA process. It expects that by the end of 2010 an increased supply of of suitable properties will become available for leasing through NAMA.”

Interesting, my emphasis obviously. The ‘through’ word is worth noting. I dropped a mail to the blogosphere’s resident NAMA correspondent, Jag Singh, and he thought it interesting too.