So in short, drumms statement contradicts cowens so it’s not gonna be submitted. Can someone tell me the nature of an inquiry again?

Musnt have been part of the inquiry script i suppose

Maybe the inquiry into the inquiry might establish some facts.

Drumm’s statement should not be used because the man is being sought in connection with a serious criminal investigation into his activities and has fled the jurisdiction. This is not the venue to allow hiim free reign to express himself. That venue is a court of law. To the best of my knowledge, Brian Cowen has not been accused of, or charged with, any crime whatsoever. Nor as I understand it is he under investigation. It is all very well hating politicians but they did not cause the collapse of Anglo nor did they run this private company into the ground and fiddle with the books. Drumm ran the company and is seeking to have it every way by “cooperating” on his own terms with the enquiry by not physically appearing. Of course I understand why he does not wish to physically appear. He would be arrested and his passport seized. And that says it all really. Yet Drumm has repeatedly said that there was nothing wrong with Anglo that couldn’t have been fixed. This attitude is redolent of the proverbial gambler who has a large debt and keeps gambling hoping to get the “big win” to cover his previous debts. The Anglo business model was flawed as were their business practices (to put in mildly). It is not the fault of the committee that they find themselves in this situation and it is unfair to blame them. It is the fault of Drumm and him alone. Let him return home instead and face the music if he believes he is so innocent.

JohnR, who ignored all the advice and forced the guarantee.

Why call him to the inquiry to give him a stage at all then if that’s the case…. Surely his evidence won’t be heard even if he appears because he’ll just be arrested. Most obvious booby trap ever

His evidence is in written form. He won’t be appearing.

The truth! The truth! This crowd don’t want the truth!! They Can’t handle the TRUTH………….( with due apologies )

DPP may also be trying to stop his statement from prejudicing any trial he may be involved in later down the road. Shrewd move possibly.

Nah kennys bigger….

He will never be brought to trial , he knows too much

Phil Offier you’re delusional. I am sick and tired of the perversities of our financial sector being visited on the heads of politicians and others instead of those actually responsible. Anglo was a private bank and Drumm and his predecessor are largely responsible for its demise, not politicians. It is sickening to read people trying to transfer the blame to politicians, who may be criticised for many other valid reasons, in the belief that Anglo and politicians were engaged in some vast criminal enterprise. Thet weren’t. Anglo was a badly run bank with a flawed business model and very poor business practices. It was like a giant Ponzi scheme. That is the responsibility of the CEO and the Board and the senior management. And I for one do not want to see that responsibility shifted to politicians who did not own or run the bank. I will not grant Drumm or anyone in Anglo a fool’s pardon. They made money and left us with the bill. Let them be held to account.

JohnR, who guaranteed the banks and who is paying the price for this scam. Regulator branded golf balls is delusional, so was the decision to guarantee a toxic bank.

The DPP is a political appointee.
Pretending that she is held to account by no one is probably a bad idea around here.

True O’Reilly the thought of someone like Enda having control of the DPP is truly frightening.

Oh really, I don’t think for one minute that this man is a fool who hasn’t covered himself, in fact I am certain he would have files and documents hidden as insurance against been made the scapegoat. His time to face the music is quickly approaching and his next move is going to have serious implications for either the people of this country or his partners in crime.

Seriously Phil. You need to get out more. So far, this banking inquiry hasn’t found anything we didn’t already know about. No smoking gun. Drumms evidence would be in line with everyone else – Sorry. Wasn’t me…

So you agree the inquiry is becoming a farce, really it lost its credibility when the European fella refused to acknowledge it. Would you not like to see Drumm tell the truth even if it was only done out of self preservation.

Phil you are a delusional conspiracy theorist and the web is filled with people like you. The banking enquiry has yielded much useful information including verifying facts already in the public domain but doing so in a very transparent fashion. But apparently, because they haven’t verified your delusional conspiracy theories, they are a waste of time. Nioe of the evidence supports your views but don’t let that get in your way. What is emerging is that Anglo was badly run. It’s business model was flawed. Its business practices were flawed. Its decision making was flawed. It took unreasonable risks. It behaved with “irrational exuberance” (to quote a former great of the American financial sector). Our entire financial sector engaged in financial remuneration practices which created perverse incentives to enrich oneself at the expense of the greater good. And our regulation and oversight system was flawed (light touch – why are we surprised). This in itself is fascinating enough and explains exactly what happened without the need to engage in paranoia. It also tallies withy similar experiences elsewhere where bubbles emerged. And it will happen again in the fullness of time. That is human nature. We do not learn from risks and we are poor judges of risk. That’s it.

Haha I’ve been called worse, you have contradicted yourself in your rant. To say ah sure it’s grand it was only human nature that we have been ripped off and saddled with an unserviceable debt until 2053 because of a huge litany of failures by people whose job it was to know better is way beyond delusional, maybe the lack of accountability for anyone involved in this suits your agenda, maybe the price to be paid by the ordinary people doesn’t affect you. I have raised what I think to be legitimate concerns and maybe my attempt to encourage Drumm to do the right thing is blind idealism but it stems from what I see as a huge injustice against the people of this country. Anyway why do you not want to see the whole Anglo network outed and shown for it is?

Here John I’ve got conspiracy theory’s for you, how much money that originated in Anglo ended up in offshore bank accounts. Also why did nobody in the media notice even as little as one detail to the impending economic catastrophe and Sandra Bullock is really a man.

Phil what I object to about your diagnosis is that it seeks to find extraordinary reasons for the demise of Anglo and our banking sector instead of the perfectly ordinary and prosaic cock ups and delusional behaviour which is emerging as the reason. This master of the universe delusion runs through the top level of finance world wide (with honourable exceptions as there are well run banks). We don’t have to reach for conspiracy theories to find out why our banks failed and to be honest that makes it all the more shocking. As for the guarantee and exactly why it was given I would like to know more about that but I’ll await the evidence. In the meantime I’ll try to avoid conspiracy theories which suggest something extraordinary when it is highly likely that the very ordinary greed filled milieu in which our banks operate is the primary cause.