Shane Ross

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Archive for January, 2009

Old Guard Back At Anglo

BRAVO. There was blood on the carpet. The old Anglo board retired with a whimper.

Giants of the Irish corporate world were toppled. Gary McGann, chairman of the troubled DAA was gone; Ned Sullivan, chairman of Greencore was gone; Michael Jacob, a 20-year veteran of the Anglo adventure, was gone.

Finance Minister Brian Lenihan’s claim to be putting “clear blue water” between the “old” and “new” Anglo Irish Banks was gaining credibility. Bankers were finally falling on their swords.


Anglo’s Auditors Cheat The Hangman

THE accountants Ernst &Young sat in the front row in the Mansion House. Silent. Demands from shareholders that the number crunchers should answer questions were turned down.

The Anglo directors sat on the podium in the Mansion House. Silent. Demands from shareholders that the part-timers should answer questions were turned down. AGM chairman Donal O’Connor made a shaky start in his first task as Anglo chairman.


Where Were The Auditors

There is a glimmer of hope for Anglo Irish Banks. As the big meeting beckons in the Mansion House on Friday, directors are tumbling from their pedestals.

First ,chairman Sean FitzPatrick and director Lar Bradshaw fell on their swords, then chief executive David Drumm hit the tarmac. And last Wednesday financial boss Willie McAteer resigned. Suddenly, the guard is changing. The big three are gone. A fourth was caught in the cauldron.

In a sense they have all cheated the gallows. Do not expect them to be in the Mansion House on Friday to face questioning from shareholders.


Banking Victims Fight Back

ARE you one of the forgotten bank victims of 2008? Admit it, you are silently nursing stock market wounds that you never foresaw?

If so, you are one of a multitude of voiceless small investors, marooned out there.

Perhaps you sold your small business recently, netting you a tidy sum? Perhaps you received redundancy money or an early retirement payment? Maybe you are a thrifty young saver who put money aside for a rainy day? Or you are a cute hoor who exited from the property frenzy at the peak? Most likely of all, you are an ordinary pensioner who salted away a few bob for retirement?

And where is your money?


The Bankers

“The clearest account of [Ireland’s] fall from grace comes from Shane Ross, a stockbroker-turned-business journalist, and Senator with a record of exposing corruption.”
The Economist

“Read this super book. Cry, get mad and get even.”
Irish Times

“There aren’t many better at puncturing the pompous world of Irish banking than Ross.”
Sunday Tribune

“Prose that sizzles on the page.”
Irish Examiner

My new book, ‘The Bankers’ is now in shops (retailing for aprox. €15). It tells the inside story of how we went from boom to bust and attempts to make sense of the banking crisis that will haunt Ireland for years to come.

An exclusive extract appeared in the Sunday Independent in November.