FREE KIC - NO. 89 MARCH 14
OUR DISTINGUISHRD WHISTLEBLOWERS
Connolly: "Shatter would have read your report in detail, I know he did, he communicated with me and he will have read all of your exhibits, which I actually labelled them numbered one to nine in the actual, in the order they were highlighted so he did know. And you know I redacted, the only thing I redacted was your name. Alan studied everything in fact I know he did."
For anyone interested in reading the whole transcript it can be read here and for anyone interested in doing some more detailed homework for themselves I recommend that first of all they read the letter from the Department of Justice to Maurice McCabe outlining the findings of the internal Garda (O'Mahony) investigation as well as watching the full recording of Mary Lou McDonald questioning the Garda Commissioner at the Public Accounts Committee which is available on YouTube.
In my opinion Alan Shatter should be fired and I'm not sure if I can trust anyone at the top of the Garda organisation because so many of them appear to have been involved in trying to hide the truth. I also want to say I agree with Leo Vradker when he states that the behaviour of the whistleblowers was distinguished rather than disgusting.
Shatter & Callinan
There are two aspects of the trial that I would like to comment on (apart from the fact that it took so long to get this far).
First of all given the evidence presented it appears strange that David Drumm has not been extradited from America because the other defendants have consistently stated that he put the whole "Maple 10" plan together. The cynic in me wonders if the defendants are using his absence as a convenient way to blame somebody else for masterminding the plan. In particular Sean Fitzpatrick has made sure to distance himself from any day to day involvement in the bank post 2005 and therefore has testified that he did not know about the loans to the Maple 10 until after the process was completed. If all this is true it would appear as if the main suspect has got away!
The second issue I want to comment on is in relation to how nobody involved seemed to think that a bank lending money to its customers to buy its own shares and with recourse to only 25% of the value was a strange thing. Having heard all that I was thinking that I should pop into my local Bank of Ireland branch here in Rosslare Harbour to ask for a loan to buy Bank of Ireland shares because of course that type of thing is the type of thing banks do in their normal course of business!!
In my next opinion piece I should be able to comment on the result of the case. Watch this space!
As is often the case with my opinion pieces I want to give the final word to the world's second richest man because in the light of the whistleblowers and Anglo trial I think his view cuts to the core of these issues:
Maurice McCabe and John Wilson have shown that they have all 3 things that Warren Buffett looks for in a person and for that we should all be grateful.