Monthly Archives: March 2012

Remember The House In Laois Where The Eviction Was Stopped?

Admin at 5:54 pm March 15, 2012

httpv://www.youtube.com/watch?v=PpUjl4LvQM8

Yes, that one.

They got them out.

From Clare Daly TD:

This morning a large force of Gardai sealed off a country lane leading to the home of Mr Lee Wellstead and then, according to neighbours, forced entry by kicking down the front door. The repossession of the property and the eviction of Mr Wellstead and his young daughter were carried out on behalf of Ulster Bank

Speaking in the Dail today Joan Collins TD said she was “appalled and outraged by this eviction of Lee Wellstead and his daughter from their family home. Where have we come to as a nation when the Gardai act as eviction bailiffs for a British state owned bank? Have they forgotten our history as a people? “

ULA TDs Condemn Forced Entry To Repossessed Home In Mountrath, Co Laois (Clare Daly)

Just Shy Of €12,000 A Week

Admin at 5:33 pm March 15, 2012

Bank of Ireland CEO Richie Boucher was paid a total of €623,000 last year. [A] spokesperson said Mr Boucher’s core salary was €500,000, which was within the Government’s salary cap.

But?

He was paid a further €123,000 as pension cash allowance for waiving his right to retire at the age of 55.

Oh.

Well, at least BoI recorded a loss of only €190 million last year.

And it’s not like Richie was around when all the problems started.

Having joined the bank in 2003.

We’ll see ourselves out.

BoI Chief Richie Boucher Paid €623,000 in 2011 (RTE)

Meanwhile, On Wall Street

Admin at 5:21 pm March 15, 2012

Another banking whistleblower.

Part of a letter doing the rounds of the trading/sales floors today.

Yes, we at JPMorgan that are in the know are fearful of a cascading credit event being triggered in Greece as they have hidden derivatives in excess of $1 Trillion USD. We at JPMorgan own enough of these through counterparty risk and outright prop trading that our entire IB EDG space could be annihilated within a few short days. The last ten years has been market by inflexion point after inflexion point with the most notable coming in 2008 after the acquisition of Bear [Stearns].