Brian O'Doherty's Blog  

Maybe I am doing him an injustice…He seems a good person and generally reliable..Maybe it is my own fault…I did not notice an official, timely and proper withdrawal of the State’s offer in relation to AIB’s capitalisation, perhaps. If so, I am happy to apologise to Mr. Noonan.
But, otherwise it seems to me that the [...]

The rather poor road between the border at Aughnacloy and the city of Derry is to be upgraded into a dual carriageway, substantially at the expense of taxpayers in the Republic. My proposal is that this roadway should be named after Ireland’s greatest unsung hero Owen Roe O’Neill, (c. 1585 – 1649). (I’m sure John [...]

We have referred before to the essential immorality of the NAMA scheme, under which bank shareholders must accept a valuation of their equity made by state officials and, if that valuation is sufficiently low, hand over their equity to the same state accordingly, even if, ultimately, the state sells off bank assets at an enormous [...]

The results of the stress tests are being presented as an urgent and unexpected need for more capital to cover losses by the Irish banks. The reality is that the extra capital required is to protect the banks in the event that something highly unlikely might happen to our economy and society in the medium [...]

I haven’t heard one word of sympathy for bank shareholders (AIB and BOI) during the election campaign, in spite of the injustice done, and still being done, to them. And in spite of their very large numbers. There must be even more votes to be collected from bank bashers and general begrudgers.
As we have pointed [...]

We moved our server from one data center and replaced it with a new one in a second location. Then the second one crashed and all data was temporarily lost. Now we seem to have everything going again, except music to your right. But keep the faith !

I regret to advise that this site may not be always accessible during the period up to January 31, 2011. This is due to the need to move to a new server in a new data center, and transfer all operating system, software and files. We regret any inconvenience to our members.

This is a post I sent to the IrishEconomy.ie blog today. The discussion followed a recent speech by CB Governor Paddy Honohan
”
When the Governor raised the matter of accounting practices, I thought he was going to tell us some good news. He said:
” I have already railed elsewhere against the backward-looking loan-loss provisioning practices encouraged [...]

Why don’t they let us see the report published last week by Goldman Sachs, which says, in essence, that we have been far to negative in estimating our financial losses, at bank and national level. As a result, we are forcing the banks to raise unnecessary capital (and the shareholders to consequently take unnecessary losses). [...]

This is a post I sent to IrishEconomy.ie blog today:
”
To all, and especially those who recently insisted that we could keep on issuing NAMA bonds….The situation is very clear:
It’s the ECB that wants a bail out!!
THEY, themselves, want to be “bailed out”, of the alleged obligation on them to keep on cashing NAMA bonds [...]