Posted on 08/07/2011 9:57:20 PM PDT by JerseyHighlander
Thursday, 4 August 2011
This is the biggest corruption story in Ireland, and due to collusion between the Irish bankers and Irish corporate media it has received almost no exposure through the mainstream media in Ireland.
The entire sordid story is fascinating, this whistleblower and author of this blog is being turned into a scapegoat and is looking at the real possibility of a public arrest and humiliating perp walk, lengthy and expensive trial, and lengthy jail sentence, all in an effort to permanently shut him up, it is almost certain that nearly every regulator and banker who has come out against him publically so far is hiding their own involvement in the massive fraud put upon the Irish people.
This is THE MOST IMPORTANT STORY IN IRELAND THIS YEAR.
Don't think more than 1 in 50 in Ireland are even aware of it.
I think that you are going to have to explain what this scandal is all about
Please.
Here’s another blogger’s take on this situation after he had some conversations with this whistleblower:
http://freerepublic.com/focus/f-news/2757629/posts?page=1
Tuesday, 2 August 2011
Guest Post - WhistleblowerIRL - The Show Must Go On.
The first casualty of war is the truth. The second - in our present war, the war of the financial elite and banks against nations and their citizens - seems to be the rule of law
The robo signing scandal in America is like an efflorescence of fungus covering and rotting civil trust and accountability in American civil life. Here in Europe it is no better. One of the many many things that has convinced me of this rather sweeping statement is following the details of the WhistleblowerIRL saga.
WhistelblowerIRL’s situation was on one level very simple. He was charged with making legal declarations at the end of each day to say that the bank he worked for, a part of the UniCredit empire in Ireland, had adequate capital to cover its liabilities. The law of Ireland said that to make a false declaration would result in a 5 year gaol sentence. So when WhistleblowerIRL found his bank was falling short of its legally required amount - not by a few euros but by billions, and not just once but regularly, he reported it.
He found, to his dismay, that no one, not the bank, not the regulator in Ireland, not the Central Bank seemed either interested nor inclined to do anything. He was told he was wrong, not to worry, stop saying these things, be quiet, shut up and finally - here is a letter threatening legal action by the bank if you speak of this again.
Fast forward - WhistleblowerIRL, after years of trying to get the regulator and the Central bank of Ireland to take ANY NOTICE at all, finally got to have a meeting at the Central bank. In which it was gradually made clear that if he said anything that indicated he did or knew of anything illegal - such as not reporting breaches of the legal capital holdings at his bank - the very thing he had been crying for help over in the first place - then HE might be referred to the police.
Not that he would but that he might. The Central bank couldn’t guarantee any immunity for him, within which he could tell his story.
So there he is sitting in a room with officials of an institution which has done little or nothing to investigate UniCredit being told he might be referred to the police if he was suspected of not having done his job as the law required.
What do you think? Would they listen and go after UniCredit or would they use his evidence to make him a convenient fall guy?
Here is a post WhistleblowerIRL sent me a few days ago.
It’s worth bearing in mind that UniCredit had dealing in its shares stopped AGAIN, yesterday I think it was, after massive share price losses, as did the other main Italian Bank, Intesa.
Start off reading his first two blog posts:
http://whistleblowerirl.blogspot.com/2010/11/open-letter-to-deputy-joan-burton.html
http://whistleblowerirl.blogspot.com/2011_01_01_archive.html
Here is the only extended online forum thread about this saga I’ve found:
http://www.politicalworld.org/showthread.php?s=7c318401c8f6de802f2be9b326a9d07b&t=5528
later read
It sounds as though the bank had political connections that the Whistleblower was either unaware of or chose to ignore.
The problem for the poor Whistleblower is that Ireland has successfully moved on from the banking crisis to become just about the most economically stable country in Europe. How did they do it? - through education. Ireland now has the most highly regarded education system in Europe as well, especially in technology.
“I resigned in order not to incriminate myself. We were breaking liquidity regulation by 1,900% (YES, one thousand and nine hundred percent). The Financial Regulator knew about it and did nothing. The regulation stipulated a possible 5 year prison sentence for violations of the law. However, even though a sweeping bank guarantee was required in Sept 2008 due to the fact that ALL the Irish banks ran completely dry of liquidity, not a single Risk Officer has been charged at any of the banks. We, the Irish taxpayers are footing the bill. What did the Financial Regulator do about it? He re-issued the regulation in 2009, making sure to cite Banking Acts as far back as 1942, but never mentioning the fact that this was law in Ireland in 2007. Problem solved, no-one is guilty.”
This is a repeat of what’s happened here and all over Europe. No one was held accountable! The selected banks got billions of our money. Where is it? This seems to be a ONE WORLD SCAM!!! And where’s the media. They’re owned by huge corporations. These huge conglomerates need to be broken down into smaller and more controllable entities. I feel really sorry for this lone whistleblower but unfortunately he’s screwed. There’s no such thing as truth or honesty in big business...there’s only that new word Obama coined to replace it...transparency.
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