Among the new revelations and claims emerging from the documents are...

* At a meeting in September Willie McAteer, Anglo finance director, told the head of the Financial Regulator Patrick Neary the bank would be "managing" its balance sheet, to which Neary is recorded as replying, "Fair play to you, Willie."

* A phone call records officials from Anglo Irish Bank telling staff at the Financial Regulator in October that the bank is "manipulating" its balance sheet. "It is not a real number," the Anglo staff member is recorded as telling the regulator.

* Anglo auditors Ernst & Young told the bank there was no need to include reference to the transactions in documents sent to shareholders in December, saying only information already in the public domain should be included.

* Anglo assisted Irish Life & Permanent (IL&P) coming up to the building society's half-year ending 30 June by engaging in transactions that reduced IL&P's reliance on emergency funds from the European Central Bank.

* Anglo has entered into "reciprocal arrangements" to bolster balance sheets with a range of international financial institutions in the past, including Royal Bank of Scotland, AIG and Hypo Real Estate.

* Anglo received requests in the last six months for "balance sheet management" transactions from Lehman Brothers, ABN and
West LB.

* AIB and Bank of Ireland provided Anglo Irish with €6bn of funding on 23 January at the "behest" of the Central Bank.

* In September, Anglo was hit by major deposit withdrawals by State Street and AIB Investment Managers.

* At a meeting between officials from IL&P, the Central Bank and the Financial Regulator (FR) in January, Mary O'Dea, consumer director of the FR, "rounded" on IL&P and in an aggressive manner asked, "Why did you do this?" IL&P were concerned about O'Dea's reaction and raised it at the Department of Finance.

February 22, 2009

Comments

#1 Fred Johnston commented, on February 22, 2009 at 1:43 p.m.:

So when are we going to see - as we would anywhere else in the world - members of our police force strolling out of certain banks carrying boxes of files for thorough investigation? When are we going to name and shame? Or is the protect-them-at-all-costs machine already oiled and ready?

#2 james dunne commented, on February 22, 2009 at 9:52 p.m.:

agree with Fred it is about time all the senior management of the banks are taken out. I am sickened to see that aib and boi provided funding to anglo at the behest of the central bank. time to take our cash out of the banks and hide it.Enough is enough, our reputation worlwide is in tatters

#3 Mack commented, on February 22, 2009 at 10:53 p.m.:

Fred, Do you HONESTLY think that the Gardai are capable of something as complicated as what you suggest?!! An investigation of this magnitude would involve intelligence gathering for starters - and considering the most that the average guard contributes to Irish life is to stop motorists who are maybe 3 or 4 miles an hour over the speed limit and shout abuse in the window at them, then they could not be expected to 'up' their game sufficiently to become involved with FF 'scuts' and their cronies, and prove a link that would result in prosecutions!!
My suggestion to Cowen would be to appoint an investigation team from the Metropolitan Police from London. It would reignite the traditional FFer's patriotism & they'd take to the streets to protect our - well actually their - democracy, & the ensuing hulla baloo would take the spotlight off the government which is what these cute hoors are famous for in the first place.

#4 P.J. commented, on February 22, 2009 at 11:33 p.m.:

Can you not see that its obvious that this is a leak from Anglo to try and scare off the Financial Regulator and the Department of Finance from investigating them What is amazing is that although the bank is now state owned it is still busy building a defence case for Sean Fitzpatrick and friend..has the Minister no control over this shower ?

#5 Pat Donnelly commented, on February 23, 2009 at 5:32 a.m.:

I have worked alongside the Gardai and they are well capable of such an investigation. Fachtna Murphy has tremendous professionalism and has ensured talented Gardai have had experience in Fraud matters.
It would save the odd 500 million euro in tribunal costs too!

#6 paddy commented, on February 23, 2009 at 8:37 a.m.:

>>>
Fred, Do you HONESTLY think that the Gardai are capable of something as complicated as what you suggest?!!
>>>

Not all guards are just walking the beat. Many guards are trained for specific skilled tasks. Including Fraud.

I welcome the Garda Siochana to perform their task.

The very idea that Ireland needs the LMP ...

#7 Paddy commented, on February 23, 2009 at 5:09 p.m.:

In the absence of a decent sherriff and hanging judge we will continue to have lawlessness. When the sherriff and judge are owned by the outlaws we have no chance of seeing law and order. The real pity is foreign investors will avoid Ireland like the plague - 'stay out of Ireland - the Paddys will just rip you off....'

#8 JACQUI commented, on February 24, 2009 at 8:52 a.m.:

However unpalatable the cute hoor recipe for a splendid life is,will the opposition be any better, say after a few years when coming out of DEPRESSION, they too realise turning faces to the dark side and ignoring those who are relied upon to keep honest cogs oiled - has its 'up' sides. Tis a great pity this country doesn't possess more strength within the Labour Party. They always appear to take the role of Bridesemaid. Fine Gael will only succeed when they rid themselves of Dippity Kinney. Trust is now so low, even the opposition aren't trusted.

#9 Felim McMahon commented, on February 25, 2009 at 2:39 a.m.:

Prescient Fred. But what now? Like to hear your thoughts.

#10 Peers Carter commented, on February 25, 2009 at 9:50 a.m.:

I am saddened to see how a once respected Icon of Ireland in the UK banking scene has been brought so low by the sight of Garda raiding Anglo's offices.

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