We need your help now
Support from readers like you keeps The Journal open.
You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.
If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.
Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
By continuing, you are indicating that you accept our Terms of Service and Privacy Policy.
MICHAEL NOONAN WAS so concerned about the “constant stream of issues” arising at IBRC that he was not confident about accounting for the bank’s actions in the Dáil.
Newly-released documents from the Department of Finance show that the Noonan’s confidence in the now-liquidated bank was “wearing quite thin” in the summer of 2012.
A total of 13 documents have been released by the Department this morning and their details have already been published in the Irish Times.
They show considerable tension between the bank and the department and how Noonan was “very uneasy” about the relationship.
Noonan’s concerns are contained in minutes of a meeting between the Minister, his officials and senior management at the now-liquidated IBRC, including chair Alan Dukes and CEO Mike Aynsley, on 25 July 2012.
They record how the Minister’s confidence in IBRC was “wearing quite thin”.
Though there are redactions throughout the documents released this morning, the use of black ink is not as heavy as it is in the documents that were released under FOI to independent TD Catherine Murphy earlier this week.
Tensions between the bank and IBRC are also apparent in a briefing note for Finance’s second secretary general, Ann Nolan, ahead of a meeting with the bank on 31 May 2012.
The appointment of the bank’s chief financial officer is described as being:
typical of the type of example of behaviour that undermines the trust between the Department and the Bank.
The appointment was made without Noonan’s approval and, the note later states:
represented a high degree of disregard for the Minister’s role and function – at worst an attempt by the bank to thwart the Minister’s need to exert a degree of oversight of the bank.
The same briefing note also problems with recruitment generally and says:
“There appears to be disregard for the Minister’s requirement to exert downward pressure on remuneration”.
Later, the extensive note says “the bank has a serious image problem” which has not been helped by media attention on issues like the sale of Siterserv, the appointment of US firm Blackstone to sell IBRC assets without proper procedures, and the bank’s relationship with developer Paddy McKillen.
The documents also record how the Department questioned the way IBRC handled big borrowers like McKillen.
They note that Aynsley was communicating with McKillen via text and that this appeared to be “inappropriate”. Aynsley insisted that communications with major borrowers “must be close but they are not inappropriate”.
Other issues concerning the Department included the sale of a high profile residential block in New York, the Arthrop Building. Anglo had funded the €273 million purchase and renovation of the building.
However, a senior official in the bank raised concerns about the valuation process and provisioning made by IBRC.
To embed this post, copy the code below on your site
It’s all well and good until Stevie starts humping the microwave during the night
@DarkHorse: That’s a silly comment . This is very serious but the article doesn’t tell us how to access , so its a useless article.
@rory conway: I mean not really, as they haven’t been on sale yet. They’re flying to the States later this month, where a care home will be trialing the beta version.
Can he make a good cup of tae though? Or boil an egg? Or put a few sods of turf on the fire?
As long as it’s used to complement human interaction and not replace it, it’s a good idea. Having spent summers at college working as a home help, i am aware that i was the only person many elderly people spoke to during the day. My being there for a chat was at times more important than my ability to light the fire
@Anne Marie Devlin:
Very good point.
May I be the first to welcome our new robot overlords.
Seriously though, cool bit of tech.
Japan, the US and other places are vastly more developed in the technologies required to implement practical autonomous robotic supports.
It’s a good idea but only if Trinity College collaborates with the best abroad.
As matters now stand, one small country does not have the embedded knowledge base, the centre of expertise, the resources and the funding required to make a massive project of this nature anything more than a prototype.
@Fiona deFreyne: Do you just put everything down? Ireland has produced leading technologies in the past beating those with more resources and been at it longer. They could easily develop key components for the future of all robot via software or hardware.
@Kal Ipers: it is a matter of scale, accumulated expertise, level of previous investment in R &D, historically, accumulated IPR, the legacy knowledge and expertise not to have to reinvent any wheels and the large numbers of highly quality researchers required to develop cutting edge technologies in areas off deep machine learning. The scale of investment required for success is truly huge.
We have talent here but it is fair to say that we have had a brain flow to the US and to Cambridge in the UK in relevant disciplines. There are many reasons for this.
Trinity can’t play a valuable role as an adjunct to leading research elsewhere.
Honda has already achieved much techological success in Japan with robots dedicated to health care for the elderly. I don’t know if there can be technology sharing and cooperation arrangements.
Knowing the scale of the problem is a first step. I would not select Ireland a a base for developing new generation rockets for outer space exploration or other areas of resource intensive projects. Robotics and autonomous intelligence devices is one of the mist resource intensive areas that could be selected.
@Fiona deFreyne: None of that has anything to do with your constant putting down everything. Again I reject your view and that is mostly because it is always negative.
They should really get in touch with the Japanese on this subject. They have been pouring money on this subject for decades and a trip to them could shave years off the project.
Also, the arms are way too short and lack any function. Infact, the whole robot cannot do more than a smartphone. I feel like someone is laughing right now.
Ye it would be if the likes of rich politicians didn’t want to force the elderly out of their home
Sounds like a great idea. I thought they’d need to be a lot stronger though. And have a hoist, or arms, to help them in and out in the bathroom? But they’d never get bored listening to people, I suppose, there’s that.
All the wiley aul fellas will be figuring out how to bypass him so they can slip off to the pub and bookies
Can it make a good cup of tae though? Boil an egg or throw a few sods of turf on the fire?
I assume he meant Kryten from Red Dwarf not Croydon from Deep Space Nine lol
Fck that, sophia the robot destroys stevie
If you want to watch a creepy interview with a robot check this out.. http://uk.businessinsider.com/interview-with-sophia-ai-robot-hanson-said-it-would-destroy-humans-2017-11
@Patrick J. O’Rourke: True, it doesn’t have much to say for itself. It wouldn’t pass the Turing test; you can tell it’s a bot. But there’s always the ELIZA effect. Sure the robot carers are meant primarily for people with no one to listen to them all day. I think there’s a huge market for them considering that retired people are living so much longer.
@Patrick J. O’Rourke: scary stuff! I’d say cults will purchase loads of these and put them out there in homes and such like to brainwash everyone!!
Daughter got a Furbie one year for Christmas thing turned seriously nasty and using bad language and had to be re-set… A Furbie!!! Yup dangerous road ahead…
@Lydia McLoughlin: Maybe they’ll persuade a few people that bus fares aren’t tuppence any more. Mind you, the bad language can’t have been that bad if you understood it.
have your say