Anglo Irish Bank Hidden Loans Controversy
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Anglo Irish Bank Hidden Loans Controversy
The Anglo Irish Bank hidden loans controversy (also known as the circular transactions controversy) began in Dublin in December 2008 when Seán FitzPatrick, the chairman of Anglo Irish Bank (the state's third-largest bank), admitted he had hidden a total of €87 million in loans from the bank, triggering a series of incidents which led to the eventual nationalisation of Anglo on 21 January 2009. FitzPatrick subsequently resigned his position and was followed within twenty-four hours by the bank's non-executive director, Lar Bradshaw and chief executive, David Drumm. A new chairman of Anglo, Donal O'Connor, was quickly appointed from the board, a move welcomed by the Irish Minister for Finance, Brian Lenihan. A number of investigations have been launched into the reasons behind the three resignations. The Central Bank of Ireland is carrying out a review of the bank's dealings, although its Financial Regulator, Patrick Neary, has also since resigned his position. So too did a n ...
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Protest Against Bailout Of Anglo Irish Bank
A protest (also called a demonstration, remonstration or remonstrance) is a public expression of objection, disapproval or dissent towards an idea or action, typically a political one. Protests can be thought of as acts of cooperation in which numerous people cooperate by attending, and share the potential costs and risks of doing so. Protests can take many different forms, from individual statements to mass demonstrations. Protesters may organize a protest as a way of publicly making their opinions heard in an attempt to influence public opinion or government policy, or they may undertake direct action in an attempt to enact desired changes themselves. Where protests are part of a systematic and peaceful nonviolent campaign to achieve a particular objective, and involve the use of pressure as well as persuasion, they go beyond mere protest and may be better described as a type of protest called civil resistance or nonviolent resistance. Various forms of self-ex ...
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Irish Government
The Government of Ireland ( ga, Rialtas na hÉireann) is the cabinet that exercises executive authority in Ireland. The Constitution of Ireland vests executive authority in a government which is headed by the , the head of government. The government is composed of ministers, each of whom must be a member of the , which consists of and . The Taoiseach must be nominated by the Dáil, the house of representatives. Following the nomination of the , the President of Ireland appoints the to their role. The President also appoints members of the government, including the , the deputy head of government, on the nomination of the and their approval by the . The government is dependent upon the Oireachtas to pass primary legislation and as such, the government needs to command a majority in the in order to ensure support and confidence for budgets and government bills to pass. The Government is also known as the cabinet. The current government took office on 17 December 2022 with Le ...
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Mazars
Mazars is a global audit, accounting and consulting group employing more than 42,000 professionals in more than 90 countries through member firms. With head offices in France, Mazars has a network of correspondent partners and joint ventures in a further 21 countries and is a founding member of the Praxity alliance, a network of independent firms. Worldwide turnover for the integrated partnership for the fiscal year ending August 2014 was 1.081 billion euros. Mazars operates as a single entity as a fully integrated partnership. Mazars publicizes its consolidated financial accounts, a move it claims is unusual for private audit and advisory firms. History The original Mazars firm was formed in Rouen, Normandy in France in 1945 by Robert Mazars. He would serve as chief executive officer until 1983, when Patrick de Cambourg was appointed the position. de Cambourg began internationalizing the local firm, which counted 33 employees in 1977. From 2011 to 2016, Philippe Castagnac ser ...
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Dan Boyle (politician)
Dan Boyle (born 14 August 1962) is an Irish Green Party politician and author who served as Deputy leader of Seanad Éireann from 2007 to 2011. He was a Senator from 2007 to 2011, after being nominated by the Taoiseach. He served as a Teachta Dála (TD) for the Cork South-Central from 2002 to 2007. He was elected to Cork City Council in May 2019. Early life and education Boyle was born in Chicago, Illinois, to emigrant Irish parents. He has lived in his mother's native city of Cork since he was eight years of age, in the Turners Cross area of the city. He was educated at local schools; Scoil Chríost Rí and Coláiste Chríost Rí, and at the Cork Institute of Technology, where he studied Business Studies and Child Care. He received an MBS in Government from University College Cork in 2015. He was married to Bláithín Hurley from 1987 to 2014, they have one daughter. At the time of the 1992 general election, he had served as a board member of the Cork Youth Federation, t ...
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Green Party (Ireland)
The Green Party ( ga, Comhaontas Glas, , Green Alliance) is a green political party that operates in the Republic of Ireland and Northern Ireland. As other like-minded Green parties, it has eco-socialist/green left and more moderate factions. It holds a pro-European stance. It was founded as the Ecology Party of Ireland in 1981 by Dublin teacher Christopher Fettes. The party became the Green Alliance in 1983 and adopted its current English language name in 1987 while the Irish name was kept unchanged. The party leader is Eamon Ryan, and the deputy leader is Catherine Martin and the Cathoirleach (chairperson) is Pauline O'Reilly. Green Party candidates have been elected to most levels of representation: local government (in both the Republic and Northern Ireland), Dáil Éireann, the Northern Ireland Assembly, and the European Parliament. The Green Party first entered the Dáil in 1989. It has participated in the Irish government twice, from 2007 to 2011 as junior partner in ...
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Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded by Kenneth Lay in 1985 as a merger between Lay's Houston Natural Gas and InterNorth, both relatively small regional companies. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,600 staff and was a major electricity, natural gas, communications, and pulp and paper company, with claimed revenues of nearly $101 billion during 2000. ''Fortune'' named Enron "America's Most Innovative Company" for six consecutive years. At the end of 2001, it was revealed that Enron's reported financial condition was sustained by an institutionalized, systematic, and creatively planned accounting fraud, known since as the Enron scandal. Enron has become synonymous with willful corporate fraud and corruption. The scandal also brought into question the accounting practices and activities of many corporations in the United States and was a factor in the enac ...
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Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and PricewaterhouseCoopers (PwC), it is considered one of the Big Four accounting firms. It primarily provides assurance (which includes financial audit), tax, consulting and advisory services to its clients. Like many of the larger accounting firms in recent years, EY has expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting. EY operates as a network of member firms which are structured as separate legal entities in a partnership, which has 312,250 employees in over 700 offices in more than 150 countries around the world. The firm's current partnership was formed in 1989 by a merger of two accounting firms; Ernst & Whinney and Arthur Young & Co. It was named Ernst & Young until ...
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The Irish Times
''The Irish Times'' is an Irish daily broadsheet newspaper and online digital publication. It launched on 29 March 1859. The editor is Ruadhán Mac Cormaic. It is published every day except Sundays. ''The Irish Times'' is considered a newspaper of record for Ireland. Though formed as a Protestant nationalist paper, within two decades and under new owners it had become the voice of British unionism in Ireland. It is no longer a pro unionist paper; it presents itself politically as "liberal and progressive", as well as being centre-right on economic issues. The editorship of the newspaper from 1859 until 1986 was controlled by the Anglo-Irish Protestant minority, only gaining its first nominal Irish Catholic editor 127 years into its existence. The paper's most prominent columnists include writer and arts commentator Fintan O'Toole and satirist Miriam Lord. The late Taoiseach Garret FitzGerald was once a columnist. Senior international figures, including Tony Blair and Bill Cl ...
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Irish Nationwide Building Society
Irish Nationwide Building Society was a financial institution in Ireland from 1873 to 2011. One of the country's oldest financial institutions, it was originally called the Irish Industrial Building Society; it changed its name in 1975 when it had just five staff. It ceased to exist when its assets, liabilities and branch network were transferred to Anglo Irish Bank. The headquarters of Irish Nationwide were in Grand Parade, Dublin 6. The society's chairman was Danny Kitchen and its last chief executive was Gerry McGinn who succeeded Michael Fingleton in 2009. It had around 100,000 members, with a branch network throughout Ireland. It also had branches in Belfast and London in the UK, and an Isle of Man division, based in Douglas. Irish Nationwide (IOM) Ltd ("INIOM") under a different name, Permanent Bank International Ltd, remained operating in Douglas, Isle of Man. It closed down on 15 December 2017. Permanent Bank International Ltd was a wholly owned subsidiary of Permanent TSB ...
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Irish Independent
The ''Irish Independent'' is an Irish daily newspaper and online publication which is owned by Independent News & Media (INM), a subsidiary of Mediahuis. The newspaper version often includes glossy magazines. Traditionally a broadsheet newspaper, it introduced an additional compact size in 2004. Further, in December 2012 (following billionaire Denis O'Brien's takeover) it was announced that the newspaper would become compact only. History Murphy and family (1905–1973) The ''Irish Independent'' was formed in 1905 as the direct successor to ''The Irish Daily Independent and Daily Nation'', an 1890s' pro-Parnellite newspaper. It was launched by William Martin Murphy, a controversial Irish nationalist businessman, staunch anti-Parnellite and fellow townsman of Parnell's most venomous opponent, Timothy Michael Healy from Bantry. The first issue of the ''Irish Independent'', published 2 January 1905, was marked as "Vol. 14. No. 1". During the 1913 Lockout of workers, in ...
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The "Golden Circle"
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of pronoun ''thee'') when followed by a ...
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Willie McAteer
Willy or Willie is a masculine, male given name, often a diminutive form of William or Wilhelm, and occasionally a nickname. It may refer to: People Given name or nickname * Willie Aames (born 1960), American actor, television director, and screenwriter * Willie Allen (basketball) (born 1949), American basketball player and director of the Growing Power urban farming program * Willie Allen (racing driver) (born 1980), American racing driver * Willie Anderson (other) * Willie Apiata (born 1972), New Zealand Army soldier, only recipient of the Victoria Cross for New Zealand * Willie (footballer) (born 1993), Brazilian footballer Willie Hortencio Barbosa * Willy Böckl (1893–1975), Austrian world champion figure skater * Willy Bocklant (1941–1985), Belgian road racing cyclist * Willy Bogner, Sr. (1909–1977), German Nordic skier * Willy Bogner, Jr. (born 1942), German fashion designer and alpine skier * Willie Bosket (born 1962), American convicted murderer whos ...
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