‘Last night he was dreaming, he was locked in a prison cell’…
Yes readers, his legal team may have put up a good fight, but, following a lengthy 16-week trial, held at Dublin’s Circuit Criminal Court, last week, a jury consisting of nine men and three women, wouldn’t go for his story; they wouldn’t hear his plea, and they convicted former Anglo Irish Bank CEO David Drumm, pictured right, of conspiracy to defraud and false accounting charges.
It took 10 hours and 32 minutes of deliberations to find Drumm had conspired with ex-bankers Denis Casey, Willie McAteer and John Bowe to defraud depositors and investors with their dishonest dealings.
As we know, the State’s case was that Drumm had artificially inflated figures by circulating €7.2 billion between Irish Life and Permanent and Anglo Irish in an attempt to create the illusion the bank’s customer deposits base was much stronger than it actually was.
Drumm, who presents as being so arrogant he’s in danger of drowning in a puddle of his own smugness, and who the court heard, had referred to the financial regulator as “Freddie f**king Fly”, saying that he intended to go to “that f**king shower of clowns down in Dame Street” in order to seek emergency funding for the bank, clearly thought he didn’t need to face the music. Nor did he need to take responsibility for his illegal actions, in his view. And so, in the wake of the bank’s implosion, this criminal legged it like a coward to set up shop and live in the lucrative, upmarket suburb of Wellesley in Boston Massachusetts!
Meanwhile, the country struggled with job losses, with many of us being forced to eke out a meagre existence following massive wage cuts, (yet still having to pay the same bills/loans/mortgages and living expenses, etc.), due to this privileged prat’s actions, (because, according to the prosecution, Drumm was “the man who called the shots”). Anglo was then nationalised in a move that cost you, me and every other tax-paying sucker a whopping €29 billion.
So readers, you’ll forgive me when I say I did a happy dance around my kitchen when I heard the verdict.
However folks, I have to ask, 10 years on from this financial holocaust, are we about to make the same mistakes all over again?
Each week we’re getting repeated warnings that our systems are not robust enough. Sure wasn’t it only last week, (as Drumm was being found guilty), we heard the OECD warning that “some signs of overheating are emerging” in our economy; expressing a concern around the pace of lending growth, alerting that it was “increasing sharply” and there was a distinct risk of “another property bubble associated with a strong surge in credit growth”.
Now I don’t know about you, but I cannot go through another recession, because the one we’ve just struggled through has left me with deep emotional as well as financial scars, as I’m certain it has left many others, and, even though Maths was never my strong point, it’s clear to me that Paschal Donohoe, as Minister for Finance and Public Expenditure, needs to take heed of where our finances are going and start budgeting instead of carelessly passing out our cash like snuff at a wake and using it for political spending, i.e. buying votes.
Seriously Paschal, this country cannot make the same mistakes over and over again and expect a different outcome…it’s not possible. Cop on! Yourself, Leo, Simon C, and back-up Simon H, and the rest of the Muppet Show must stop focusing on your Coalition options (sure you’re romancing so many ‘possibilities,’ it’s like an embarrassing episode of First Dates Ireland), and instead prioritise prudent fiscal planning and budgeting because what this country needs right now is to show a surplus, and not how photo fabulous Leo looks when meeting Olly Murs!
What Katie needs to do next…
Anyone else think Katie Taylor’s press release regarding the horrendous shooting at Bray Boxing Club was a tad disingenuous?
Her heartfelt condolences to the grieving family of innocent bystander Bobby Messett were spot on. My thoughts are with them. May Mr. Messett rest in peace.
However, Katie’s line saying she has had ‘no contact or association whatsoever with Bray Boxing Club since 2015,’ kinda annoyed me. As did her dig at the media, where she says, “I have been appalled by the misuse of my name and image during the reporting of this incident in the media coverage, it has been reckless and irresponsible, and a deliberate attempt to inappropriately leverage my name to sell a story’.
First of all Katie, let me tell ya love, YOU are the story, and you had no problem being the story, and indeed were very happy to be the story and be fully associated with that gym/boxing club when it was built especially for you by the tax-paying public, in order that you could pursue your boxing career.
However, if I were someone who reads between the lines (and I am), I’d assume that distancing yourself from the gym is pretty specific and raises more questions than it actually answers…interesting!
Anyhow brand Katie, (‘cos that’s what you are isn’t it…a brand), while you’re a great role model for young people, my advice to you is to work on your memory as well as your boxing skills and never forget where you came from or the tax-paying public who helped you get to where you are now.
Are new name and shame laws a good idea?
Big gold star goes to Communications Minister Denis Naughten, who has, for the past six years, been calling for the introduction of electronically tagging sex offenders when they leave prison.
The Government has approved the legislation which will allow the monitoring of registered sex offenders’ movements which could see schools and neighbours being told the name, address and identity of ‘high risk’ perverted ex-cons who’re living in their area, and who will pose a threat.
Now while this move is controversial, I have to say well done to Minister Naughten for pushing the initiative.
However, if these draft amendments to the Sex Offenders Act 2001 are passed by the Oireachtas, I imagine the move will receive criticism from the do-gooders in the bleeding-heart-brigade, and the members of the save-the-sex-offender club!
Then again, (playing devil’s advocate here), there’s a danger this naming and shaming of offenders could lead to them going underground for fear of potential vigilantism, so I’d imagine there are issues regarding the practicalities of this proposed plan…but hey, it’s a start.