Yearly Archives: 2016

shadowbank

Oh.

Based in a drab office building in Dublin down the road from a pub frequented by Prime Minister Enda Kenny, VPB Funding Ltd. had no employees but one function: selling bonds. In 2013, it issued $225 million of unsecured notes.

The proceeds of that sale were funneled to Vneshprombank Ltd., a Moscow lender whose license was revoked last month when Russian authorities accused management of pilfering its assets and falsifying accounts. VPB’s notes have plunged to pennies on the dollar.

The entanglement of an obscure Dublin firm in the woes of a lender 2,000 miles away shows why Irish officials have begun shining a light on special purpose vehicles like VPB, unregulated entities that borrow on behalf of corporations throughout the world.

The Irish capital, home of Europe’s costliest banking meltdown, remains a hub for the sort of opaque operations that contributed to the global financial crisis, threatening risks that policy makers are seeking to stamp out.

Russian Bank Collapse Shines Light on Risks in Irish Shadows (Bloomberg)

Shadow banking?

Thanks Rory

Meanwhile…

So, we don’t do brass plate companies in our country. So you have a plate…Apple employ 5,000 people, who go to work everyday. Obviously if you manufacture something there and you sell it in France or Italy, the intellectual property is invested elsewhere, these are the complexities and the challenges that are there.”

Enda kenny speaking at Davos in January

 

frmolloyroscommon

From top: Fr Niall Molloy; This week’s Roscommon Herald

Crime scene images of the bloodied body of Fr Niall Molloy may be made public in an effort to re-open the case.

They show Fr Niall on the floor of Richard and Theresa Flynn’s home with wounds to his face and pools of blood surrounding his body. And appear to contradict several witness statement made in the aftermath of the 1985 death.

Justice Minister Frances Fitzgerald was given copies of the photos last year but has made no further contact with Fr Molloy’s family.

Roscommon Herald

Previously: Fr Niall Molloy on Broadsheet

Thanks William Maher

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Fight!

From Makin Media Mobile, who say:

BREAKING NEWS! There’s been a last-minute entrant into the 2016 Election Race. Enda Kenny finally has an opponent of some substance and Conor McGregor has a punching bag worth pummelling. Will Enda bow out?

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This afternoon.

The Bord Gais Energy Theatre in Dublin.

Michael Noonan and Enda Kenny at Fine Gael’s final General Election press conference ahead of the broadcasting moratorium from 2pm tomorrow.

Meanwhile…

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This afternoon.

Renua Ireland leader Lucinda Creighton with Renua’s candidates at their last press conference in Buswells Hotel, Dublin ahead of Friday’s election.

Meanwhile..

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This afternoon.

The People Before Profit/Anti Austerity Alliance hold their final press conference at the Mont Clare Hotel. From left: Brid Smith, Boyd Barrett, Ruth Coppinger and Paul Murphy.

Meanwhile…

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This afternoon.

Leinster House, Dublin.

Roisin Shortall (centre), of the Soc Dems, asks voters to convert “overwhelming goodwill into a positive vote” for its 14 candidates including from left: Liam Coyne , Anne Marie McNally, Catherine Murphy and Glenna Lynch.

Meanwhile….

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This afternoon.

Sinn Féin President Gerry Adams (centre) with Pearse Doherty (right) and Cork South Central candidate Donnchadh O’Laoghaire at the party’s final press conference in the Lavery Room of the National Gallery, Dublin.

All pics: Rollingnews

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Arf.

Dublin city this morning.

Ramone Merrion writes:

The dogs in the streets are sick of the electioneering so they’re making a run for it themselves. The Doggie Do supports Ellie, Albie, Missi and Shadow in their bid to be Top Dog. Whatever the outcome, The Dog of Dublin 2016 will be crowned at the main event – The Doggie Do, coming this September – a Mardi Gras for Mutt & Man – details to follow…

Pics: Ste Murray

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The third and final episode of 1916, narrated by Liam Neeson.

On RTÉ One at 9.35pm tonight.

Gareth Naughton writes:

“The clip, above, features footage of Margaret Morrissey, a Dublin resident, talking about seeing her father being buried in a mass grave at Glasnevin following the Easter Rising. The final episode of 1916 deals with the surrender and subsequent executions of the leaders and the fundamental changes arising from these events.”