Anglo Tapes: No-one to be investigated

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itsallwrong

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Donal O’Donovan – 24 September 2013
NO-ONE is to be investigated over the shocking revelations contained in the Anglo Tapes published this summer by the Irish Independent, the Central Bank has said.

The continued farce of accountability marches onward..
These guys must be sore from laughing so much..
 
What they actually said was that no new investigation was needed.

See: [broken link removed]

Yet another example of the press getting it wrong.

One hopes that the existing investigations, including that into criminal activity, are ongoing. Mind you, that's not exactly been fast.
 
I was wondering what all the fuss was about.

The Central Bank is being criticised for not reporting it to the Gardai?

Surely the Gardai will have listened to the tapes themselves and can initiate an investigation if they feel that a Criminal offence may have been committed.
 
Michael McGrath has raised it at the Finance Committee. Ciaran O'Donnell is following on


McGrath: The tapes. It's not up to me to reach conclusions as to whether any criminal action took place in Anglo or elsewhere. But it should be referred at least. How did you arrive at the conclusion not to refer?


Honohan: My grandfather ( a newspaper sub-editor) would be horrifed at the headline "CB sees no wrong" . Why did we put out that statement? We owe it to the public not to pretend that we have sufficient new evidence of criminality, when we don't. We are not slow to go to the Gardai. We have nothing new. that is all it means.
We wanted to communciate with the public.

Ciaran O'Donnell: Had you heard the tapes before they were in the Indo?
Why issue the statement yesterday, just before we were about to discuss the mortgage arrears issue?

Honohan: No we didn't have the tapes. Early 2009, we took the decision to pass on all the file to the Gardai. All the file. We had some transcripts of some recordings, but not the Indo tapes.

All of that was new to us.
What word to use? We wanted to dampen down collateral damage abroad.
There is new information. So why are we not doing it?
There isn't a smoking gun.
Co'd : But you said that they "deliberately misrepresented their position"

Honohan: Was there a theft or an attmpted theft? No.

CO'D : But they coaxed us into the front room...

Honohan: But that is not enough for a court. There is nothing more than a telephone conversation.

CO'D ; Did you seek legal advice?
Honohan: Yes

Cod - why didn't you pass on the information to the Gardai

Honohan: But they read the newspaper too! ( my point ) . We don't need to pass on stuff that is in the public arena.
We don't have an investigative role...

CO'D: But you passed on the previous tapes.

Honohan: I am not being facetious - but do you want me to send them on a copy of the Sunday Information.

CO'D: (Very annoyed ) You are being facetious. I will ask you to reflect on it.
 
Pearse Doherty

The Gardai already have the tapes.

The two individuals were kept in the bank for loads of time.

You knew in 2009 that the Gardai had those tapes. Why did you allow these two individuals to be promoted to senior roles

Honohan: We were not looking just for regulator breaches. We were looking for interactions between that and communciation with the CB. ( I didn't understand this point) Even an attempt at criminal activity requires a very high standard of evidence.

In the UK, the Parliamentary commisison has recommended a novel criminal concept "reckless mismanagement of a bank". We have knocked this about ourselves. You are the legislators...

doherty: Why are you not listening to all the tapes

Honohan: (struggling) - We have looked at this. But it would be looking at a huge haystack. We haven't arrived at a way of doing useful work in this area. The Gardai are looking at them as well. We don't look at criminal matters. We are not going to get any more money out of Anglo Irish Bank.
 
Joe Higgins

Honohan: We have not established that they put the ideas they spoke about into practice.

Remember: They didn't get the money. They got the money in a different way.
 
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