Quinn Direct (11)

Is anyone watching Prime Time. Seems the taxpayer, you and me, are about to bail them out to the tune of €800,000. Is there no end to this?

not untill we rise up and take power back for the people

join tu fein

Obviously a fan of RATM!

From the way I read it the entire input from the taxpayer into Quinn will be 4.1 billion. The precious secret 'Bondholders' are owed over 3 billion and we know they must be paid out. What's the bets the 'Bondholders' are the same banks that are behind the private US bank, the Federal Reserve? The same guys who created the Credit Crunch (Debt Crisis)

Quinn have said they dont need a financial input. The Quinn group in general is cash rich. Sorry but this all smacks of something dodgy! They closed Budget Travel down too despite the fact they they owed no money to anyone and were cash rich. Maybe Quinn just didnt pass around enough brown envelopes!!

The problem with Quinn seems to equate to special cash reserves they are meant to have in hand. Oddly enough, bonded Travel Agents also work to a similar system and can often go bust while yet being cash rich as these reserves are untouchable for day to day transactions.

Fair play to the financial regulator Matthew Elderfield, its a shame Angl wasn't properly regulated 6 years by the previous regulator Patrick Neary otherwise most of the financial crisis mightn't have occured in Ireland. I oppose any bail out of banks or financial institutions, capitalism should be allowed run its natural course when it comes to reckless business practices.

it was wreckless capitalism that got the world into this mess, there is no other type boom and bust, boom and bust

A good many of the US interests that are currently manipulating our government and banks will be glad to get the boot into Quinn. Quinn Insurance has been a pain in the side of the other insurance companies for a long time and they would dearly wish it out of the way. Ciaran Cuffe's relatives seem to be quite active in the hostile take over of 'Ireland's health plc'. Mary Harney has long since chosen Boston over Berlin in her efforts to impoverish the Irish health service to a point where the American insurance companies vultures can move and pick up the very lucrative pieces.

Sean Quinn borrowed €288 million from Quinn Insurance to cover his losses in Anglo Irish Bank. He also gave 'guarntees' to secret US 'bondholders' on Quinn Insurance debts. €450 million, I think.

That's what got Sean Quinn in trouble with the Financial Regulator. By the way Matthew Elderfield is the former head of The Bermuda Monetary Authority so he is no stranger to dodgy deals in the first person. In fact we don't know who is pulling Elderfield's strings and to what end. I wouldn't be too eager to praise him as a White Masonic Knight come to save Ireland.

That said, Sean Quinn is definitely culpable. He gave €200milion from Quinn Insurance to his family to cover some of what they lost in Anglo. They still owe Anglo €2.8billion and another €1.2billion to other 'bondholders' and banks, making a cool €4billion debt!

I support proper regulation of the financial system myself, I fully Matthew Elderfield who is only doing his job as regards the Quinn Group, shame he wan't financial regulator when Anglo starting going crazy about 10 years ago.