The latest and possibly last report into the financial crisis in 2008 has this afternoon been published – this is the report and this is the Department of Finance press statement. The “Nyberg Report” is produced by Finnish former public servant, Peter Nyberg who has been working on it for the past nine months. It was referred to the Gardai and the Director of Public Prosecutions on 22nd March, 2011. The report examines the background and events leading up to the bank guarantee in September 2008.
There will be analysis on here later with a focus on property lending.
NAMA Wine Lake 
“The very limited number of warning voices was largely ignored. Attempts by banking insiders
during the Period to send cautionary signals to market participants about escalating property
values were dismissed as ill-informed and wrong.156 Doubters (the few that identified
themselves as such to the Commission) in the main grew unsure over the years when nothing
seemed to go wrong. It also appears that some stayed silent in part to avoid possible sanctions.
The Commission suspects, on the basis of discussions held with a wide number of people, that
there may have been a strong belief in Ireland that contrarians, non-team players, fractious
observers and whistleblowers would be informally (though sometimes even publicly)
sanctioned or ignored, regardless of the quality of their analysis or their place in organisations.”
Ignore Contrarian’s at your Peril :lol:
[…] An email to the Irish Times’ Fintan O’Toole regarding the recently published report on Ireland’s financial crisis. […]
@NWL
Forgive me if I overlooked it. Any post or comments on Claridges?
http://www.independent.ie/business/irish/quinlan-loan-is-flipped-for-euro60m-profit-2621786.html
@Faiken, yes that report was picked up and appears under the Paddy McKillen v NAMA page (see link below) because Maybourne’s biggest shareholder is Paddy McKillen. Because there was so little actual information in the Independent article and it did not appear to be reported elsewhere, it wasn’t considered it deserved its own entry. There have been similar claims in respect of other Maybourne loans – the Daily Mail said Maybourne loans had been sold to Robert Tchenguiz a couple of months ago, for example. And these and other minor Maybourne related claims get picked up on the Paddy McKillen page.
Paddu McKillen v NAMA – https://namawinelake.wordpress.com/paddy-mckillen-v-nama/
[…] An email to the Irish Times’ Fintan O’Toole regarding the recently published report on Ireland’s financial crisis. […]