Monday, July 12, 2010

Fitzy faces Ruin.

Sean Fitzpatrick, former chairman of Anglo Irish Bank was declared bankrupt by the High Court today with debts in excess of €97 million euro. The rouge bank which was part of a government bailout in recent times accounts for a lot of what looked good on paper during the 'boom years' but ultimately will forever be aligned with bring Ireland to her financial knees.

Fitzpatrick, who was questioned by Gardai earlier this year for alleged bad practices during his tenure at Anglo tried to come to a private arrangement last week but the High Court rejected this at today's judgement. With financial ruin now on the cards and the continuing Garda investigation it's hard to see where he can hide from the glare of the media. How this story of greed gone 'fubar' plays out will be at the forefront of Irish news for the months and years to come. The day of the banking 'supergrass' may not be far away.

Then again....

No comments:

Post a Comment