☘️Is it not exceedingly odd that Merrill Lynch wore all of the following hats 🎩 🎩 🎩 connected to the Quinn saga?
🎩 1
CFD provider to Bazzely / the Quinn family - offering a secret synthetic slice of Anglo (about 2 per cent of the bank, inside a 28 per cent book split across nine brokers so nobody saw the whole pile).
🎩 2
Merrill Lynch - the research house on the Irish banks, including Anglo Irish Bank
Remember Merrill’s Phil Ingram’s March 2008 note called them the aggressive tail of commercial-property lending.
Certain Irish banks were the “nuttiest lenders”.
It was pulled within hours after Irish banks, Anglo included, rang Merrill’s bankers and threatened to take the business elsewhere.
[Note: Merrill was lead underwriter of Anglo bonds and corporate broker to AIB].
🎩 3
Paid adviser to the Irish government weeks later — hired 24 September 2008, no tender, about €7.3 million.
The line that stuck: the banks were “profitable and well capitalised.” Say no more.
A blanket guarantee “could be a mistake.” The one option killed was letting a bank fail.
November recap guess: €6.5–16.4 billion.
The bill was a multiple of that.
🎩 4
Ordinary market counterpart to Anglo ? — at minimum the bond book.
Other lines sit in the sort of file that comes back redacted.
Merrills
🔹Same name
🔹Same year
🔹Client on the bet
🔹Voice on the stock
🔹Counsel in the Minister’s room &
🔹A seat in the wholesale market on the underlier.
Of course, the 2 per cent ticket did not sink Anglo.
The structure did:
undeclared CFDs, perhaps ? hedged stock that could be lent to shorts, margin eventually unlawfully paid with Anglo’s own money, research edited when the issuer shouted, and the State hiring the underwriter to ask whether the credit was still good?
If Merrills did not hedge
Didn’t 🎩2 help 🎩 1 quite a lot and
Didn’t 🎩3 protected 🎩1 also?
What was 🎩 4 exposure to Anglo and was this possibly being addressed through other 🎩 🎩 🎩?
Chinese walls are the official answer. 13 March 2008 is why that answer might be wearing a bit thin.
@Wftproof@stevemiddi1@ArturNadol7566@BlowersIreland
@EwanMacKenna woah woah woah. . just cause youre from Athy, the zenith of world female chipper fighting. so ill defer to your superior knowledge, but, pilli had real quick hands and looked dangerous. but she never got a chance to get going. katie grabbed on as soon as there was any trouble!
@BrackenCarl@RayMcAdam Ha ha, whenever I see an election candidate, I go and see what party they're from.. the FFG lads ALWAYS hide it.
And rightly so. Both those parties are finished.
The DOJ has ONE WEEK left to charge Anthony Fauci for the worst cover-up in modern medical history.
He lied to Congress about funding gain-of-function research in Wuhan. Millions died. Trillions were spent. And Fauci walked away with book deals and fawning media coverage instead of handcuffs. I re-upped my criminal referral to the DOJ because the evidence is overwhelming, and justice has been delayed long enough.
RT if you’re ready to see Fauci behind bars.