Irish government to pay survivors of Catholic-run Magdalene laundries compensation of at least 34m euros http://t.co/QXTMO0BmW3
— BBC Breaking News (@BBCBreaking) June 26, 2013
A memorial park will also be dedicated to the #Magdalene women, Justice Minister Shatter has said.
— BreakingNews.ie (@breakingnewsie) June 26, 2013
And with that.
The nuns were in the clear.
Pic via The Media Pool
Rathmines, Dublin.
Jaime Winstone (daughter of Ray) filming a scene from Cecelia Ahern’s Love, Rosie, today.
The girl on the bike is a boy in a wig.
As the stunt required ‘her’ to fall off.
*big sigh*
Update:
Some manner of Space Hopper pary. I hope there are no girls on those death traps.
The snow men. They make the magic happen.
That’s the ‘Key grip’ on the right. Lose him and no one is going home.
The old boom mic.
Christmas in June? Red post boxes in Dublin 6? What kind of movie is this?
We can’t wait to illegally download see it in the cinema on a wet Monday night when we have the ‘fear’. when it comes out.
Yay.
Mossy writes:
My colleague is making nano-particle solutions using Laser Ablation. She has to use a Scanning Electron Microscope to see them. This one looks vaguely like Ireland no?
Steve Mould demonstrates the very odd physics of the bead chain used in vertical blinds. He explainz:
The reason it self siphons is that the chain pulling down outside the beaker is longer (and heavier) than the chain pulling down on the inside of the beaker.The reason the chain loops up higher than the rim of the beaker is a bit of a mystery. I think it’s to do with the fact that the beads are changing direction and it can’t do that instantaneously as that would represent infinite acceleration. So a big loop is formed. I don’t know, something like that.
(The shell of the Anglo HQ soon to be the new home of the Central Bank)
The members of PoliticalWorld.org site are currently compiling a timeline of the banking collapse and back to back loan scandal from 2007-2009.
This is how it’s shaping up:
January 2007: Sean Quinn is reported to have secretly built up a 5% stake in Anglo Irish Bank using CFDs.
February 2007: Banking shares hit record highs, trebling in value since 2000. March 2007: Residential property prices fall for the first time.
January 2008: Legal advice taken on Sean FitzPatrick ‘s hidden loans. He is given the all clear.
May 7 2008: Anglo Irish Bank chief executive David Drumm states that Anglo Irish bank is in a “robust funding position”.
July 2008: 10% of Anglo Irish Bank is placed with 10 of its clients in a move not disclosed to the Irish Stock Exchange.
July 15, 2008: Sean Quinn states his family controls 15% of Anglo Irish Bank.
September 5, 2008: Anglo Irish sold its Austrian Division to Valartis.
September 9, 2008: Alan Gray met Lenihan at 11.30 in the Department.
September 11, 2008: The Anglo Board “first” realised that the bank was massively threatened by Quinn’s “gambling on its share price”.
September 15, 2008: Collapse of Lehmans.
Anglo begins to haemorrhage deposits. FitzPatrick and Drumm meet to discuss a possible merger with IL&P with directors, Gillian Bowler and Denis Casey
When this falls through, Anglo approach EBS
Haemorrhaging of deposits means Anglo has breached its regulatory liquidity ratios. Turns to Central Bank.
September 18, 2008: That leaked phone conversation between Bowe & Fitzgerald on how Anglo Irish was trying to get the Government on the hook for €7billion.
September 19, 2008: Anglo makes a presentation to the Dept of Finance, saying it will be “highly profitable” in 2009, with bad debts of just €300million.
Later, Government and regulatory officials meet Brian Lenihan to discuss the “great strain” on the liquidity of the Irish banks.
They decide to increase the State deposit guarantee scheme from €20,000 to €100,000.
Central Bank governor John Hurley suggests a €10 billion emergency fund and the possibility of nationalising or supporting Anglo.
September 20, 2008: The regulator meets the banks and building societies to gather further intelligence on how much they are losing in deposits.
They are told the Government will announce the increase on the deposit guarantee that day and that the announcement will contain “generous wording” signalling that the Government stands behind the banking system.
The Government says publicly that it wants to “protect the whole financial system, secure its stability”.
The statement contained what officials called ‘constructive ambiguity’.
It was never quite clear what the Government was saying, but it was so ambiguous it could be seen constructively by the market.
September 21, 2008: Goldman Sachs advisers to Irish Nationwide tell Government the building society is in danger of running out of funds in 11 days.
September 22, 2008: Mergers and liquidity borrowing from the Central Bank discussed.
September 25, 2008: With impeccable timing – Ireland becomes the first country in the eurozone to declare it is in recession.
Merrill Lynch brought into advice Department of Finance. Range of options presented.
“At this stage, things were getting worse and worse – it was dire,” says one insider. (Simon Carswell reports)
September 26, 2008: Merrill Lynch tells Brian Lenihan a blanket guarantee “could be a mistake” that would damage the country’s credit rating.
However.. Lenihan, Cowen & the Dept decide a blanket guarantee would be “best, most decisive, most impactful” from the market’s perspective.
Anglo formally requests a short-term liquidity loan of €1.7 billion from Central Bank to tide it over the end of the month.
The same day, Irish Life Permanent begins providing up to €3.45 billion in cash deposits to Anglo over the next four days.
September 27, 2008: PricewaterhouseCoopers says Anglo has lost €10 billion in deposits over the crisis period.
They warn that Anglo is heading towards a cash shortfall of €12 billion. Deposits are now being monitored five times a day.
September 28, 2008: Merrill Lynch warns Anglo is close to collapse, has exhausted all sources of liquidity, and faces deficit of €100 million by Tuesday.
Merrill Lynch recommends the Central Bank provide €5bn in overnight liquidity in addition to a €20bn State-backed emergency lending scheme.
Government advisers say, as an alternative to overnight liquidity, the Government could guarantee the six banks, but that this could raise credibility issues given its scale – involving covering bank liabilities of about €500 billion.
Government Meeting: Gormley says that a Bank Guarantee was discussed and agreed. (Meeting recorded in Lenihan’s diary).
September 29, 2008: Crisis meeting at Department of Finance after Anglo loses another €4 billion. AIB and BoI push for nationalisation of Anglo.
Merrill Lynch draws attention to Quinn’s position.
The back-to-back transfers involving €7.5 billion between ILP & Anglo took place over these last few days of September.
Just before 30 September 2008: IL&P sent €4billion to Anglo “in line with the previous discussions on the green jersey agenda”.
September 29: Night of the Bank Guarantee:
Director of Central Bank Alan Gray rings Cowen. Meets Lenihan
Brian Cowen apparently thumps table at meeting and says “No way are we effing nationalising Anglo Irish”.
Both AIB and BOI were asked by Government for €5billion each to loan to Anglo.
September 30, 2008: The Government announces a €400billion guarantee of the liabilities of all six Irish banks.
Department of Finance sends Letter of Comfort to Anglo Irish Bank.
October 2008: PricewaterhouseCooper completes its report on the Irish banking system.
October 14, 2008: Lenihan calls an emergency budget.
December 3, 2008: David Drumm describes Anglo as “performing strongly” and describes profits as “robust”.
December 18, 2008: Sean FitzPatrick resigns after shareholders find out about his €87m hidden loans.
December 19, 2008: David Drumm resigns.
December 21, 2008: Government announces a €1.5 billion bail-out for Anglo.
December 29, 2008: Anglo shares hit 12c.
January 15, 2009: Anglo Irish Bank Nationalised, Finance Minister Brian Lenihan finds out about €7 billion in loans from IL&P to Anglo.
January 16, 2009: Angry shareholders call for Anglo’s board to be sacked. Five Anglo non-executive directors resign.
January 25, 2009: The existence of a group of investors who secretly took on 10% of Anglo is revealed by The Sunday Times.
January 30, 2009: The financial regulator Patrick Neary resigns on a €143,000 a year pension. “Fair play to ya Willie”.
February 10, 2009: IL&P’s €7 billion transfer to Anglo is reported publicly for the first time.
Opposition parties call for Lenihan to resign.
February 12, 2009: Two directors of IL&P resign.
CEO Brian Goggin admits Bank of Ireland made “mistakes”, and “lending decisions in the past are now coming home to roost”.
February 13, 2009: Denis Casey resigns from Irish Life & Permanent.. Poll shows support for Fianna Fáil has fallen to a record low of 22.
To be continued….
Thanks Oireachtas Retort
(Eamon Farrell/Photocall Ireland)
A PBS Blank On Black animation of an interview with the legendary Satchmo by Michael Aisner and James R. Stein in 1964.
Previously: The Beastie Boys On ‘Being Stupid’
Man convicted for sex act with discarded couch… http://t.co/JtqG7ihilR
— DRUDGE REPORT (@DRUDGE_REPORT) June 25, 2013
Colm Keaveney, who has resigned as chair of the Labour Party,
He writes:
It has become popular in recent times to talk of ‘hard decisions’. In my experience there are few decisions worth taking that are not reached without considerable difficulty. Politics is about decisions and taking them is just doing our job. Politics is equally about trust and convictions. It is the trust people place in us, and the courage of our convictions, that should enable us to make decisions.
I have been honoured to serve as Chair of the Labour Party. It is a role that was entrusted to me by the members who make up the organisation. I have always promised to question and debate decisions and to avoid the groupthink that destroyed our country.
I know in recent weeks many members may have been disappointed with my objections to certain provisions in the Protection of Life during Pregnancy bill. I apologise to anyone that feels that way but I hope that all can understand that my concerns are genuine. Labour is a pro-choice party and I never had a difficulty with that until it came to considering the recent legislation.
However, I believe it is right to question all legislation in order to ensure that what we deliver is just and workable. I hope that all can appreciate that my approach is honest and made with the best of intentions even if they disagree.
Economic issues and the creation of a just society were the reasons I joined the Labour Party and entered politics. These go to the core of my beliefs. While we can all agree and disagree on approaches or particular policies this should remain the central theme and aim of any Labour movement worthy of that name.
I have endeavoured at all times to listen to members views and to articulate their beliefs on such issues, sadly this has often meant that I must come into conflict with those who currently lead the party. I have found that the more I articulate the views of members, or try to facilitate a discussion of real Labour policy, I am seen as a problem, a difficulty, an inconvenience to those who believe they know more and understand more than the people they represent.
Unfortunately I can no longer go along with what is increasingly like a political charade. We promise one thing then do another and blame it on someone else. The members must accept what they are given and the leadership will tolerate no dissent.
It is now apparent that cuts to SNAs, resource hours and to the mobility allowance are not decisions taken in isolation to one another. They are a part of a consistent approach that this Government has taken, whereby those groups least able to defend themselves are targeted for decisive action, while powerful vested interests are left untouched.
The partial reverse of some of those cuts is welcome. However, this is no way to run a country – proposing cuts, distressing people and forcing them to engage in protest to secure the reversal of measures that should never have been decided on in the first place. Why not simply engage in consultation first and try to understand the issue rather than acting arrogantly in believing that you know best?
I have tried to seek change. My aim has always been to see the Labour Party hold true to the proud values on which it was established. I find, however, that I can no longer perform this task. The more I wish to represent even the most basic of Labour values the more alienated I become from those at the top. I am in no doubt that my presence is no longer welcome by them. A party cannot function on that basis. It is with a heavy heart that I am forced to reach the only decision I believe is honourable and resign as Chair of the Labour party and from the Labour party itself.
I entered politics to try and make a genuine difference. None of us expects to change the world but we do hope to have a positive impact. The only barometer we can have is if we retain the trust of those who elect us. Honesty is not a cheap commodity to be traded at the steps of government; it is something we should value. If anyone is to have self-respect and dignity then surely it is in being able to say that they stood by their beliefs and did what they thought was right.
I will continue to represent the people of my constituency and people from anywhere in this country on the same basis that they elected me. I will not breach the contract that they made with me just for the sake of staying in a position. Too many at the cabinet table are willing to trade what they held dear for one more hour in the sun.
Politics can change but only if we have the desire to make it happen. Politicians must be brave and must genuinely believe in something more than their own career. The people decide our fate and all we can do is be happy with our actions and be true to our beliefs. I will stand by the people and I will continue to question and lead when necessary until they decide otherwise.
Finally, I would like to thank my wife, Deirdre, my parents, family and friends for all their support throughout the years. No one can sustain themselves in a political career without the support and advice of those closest to them.
I would also like to acknowledge and thank all of those in Labour that I have worked and debated with during my time in the party. It has been rewarding and I have always been touched by the basic decency of the party’s grassroots membership and their commitment to improving our country and society. I wish them ever success and good fortune in their endeavours.
Colm Keaveney TD
(Laura Hutton/Photocall Ireland)
