Greenwash: Becbay Relative & DDDA Appointment
He’s not the slap-’em-up type of builder”
Relatively speaking, Shelley McNamara is the sister of Bernard McNamara, and is no doubt above board. Shelley McNamara and Yvonne Farrell founded Grafton Architects, a firm with substantial governmental contracts. Yvonne Farrell, Ms McNamara’s co-director at Grafton Architects has been anointed to the DDDA board
Relatively speaking, DDDA is above board. Relative to Anglo-Irish Bank that is. A relative to a Becbay site developer now has a curiously strong link to a new director of the no-appeal planning autocracy for the €450 million site. This is all legal.
There is no fair reason whatsoever to conclude a family connection necessarily causes conflicts or even a conflict-of-interest. Is there any possibility, however remote, of any influence or communication?
Perception is king. Make your own conclusions.
DDDA dictates the no-appeal planning permissions for the Becbay site where Mr McNamara is an apparently stress-tested investor. Possibly informed by Anglo’s lawyers who in turn inform the Financial Regulator, the DDDA denies there are any conflicts of interest. Perhaps if the monkey can not see the hose he or she will not be influenced by the cold water.
The DDDA must be shut down immediately.
DDDA is an anti-democratic autocracy controlled by the interests – especially Anglo Irish Bank - which have bankrupted Ireland and which are looting the National Pension Reserve Funds.
Legal Corruption
Is this (job unadvertised?) DDDA appointment by Mr John Gormley consistent with the reasons and perceptions whereby The World Bank now ranks Ireland worse than Botswana, Ghana and China for Corporate Legal Corruption?
Risk-Ranking using this data increases the interest-premium on Ireland’s national debt by €276 million for each €10 Billion borrowed by BIFFO from China. Tired and emotional BIFFO calling China in the middle of the night adds an extra few punts. The reason for Ireland’s out-of-control borrowings is the Green-FF building industry pyramid scheme run from The Galway Tent. The newest DDDA Charirman is from the Green-FF building industry.
At least the Dutch were left with some diseased Tulips. And they were not green.
[Google: World Bank Institute, Corporate Legal Corruption.]
[Google: Transparency International, Country Study, Ireland 2009]
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DDDA is regarded by some as the rubber-stamp-planning-autocracy for Seanie’s Anglo-Irish Bank. Bernard McNamara is obliged to pay 17% interest on loans for his leveraged assets in the Irish Glass Bottle site. Anglo-Irish Bank handed out €288 million for the site. The big boys in DDDA have ‘invested’ about €40 million of taxpayer funds. To get the money back DDDA can permit an appropriate change of use – perhaps a Casino.
Based on current market values the IGB site has lost €300 million to €400 million since 2007. Taxpayers are now liable for €288 million, excluding the DDDA losses. Legally taking the €288 million from taxpayers requires a property tax of €10,000 for each of the 3,000 houses in Sandymount for each of the next 10 years. The public softening up process has started on the public broadcaster & in the advertising dependent newspapers – such a tax to pay for DDDA’s hole-in-the-ground is likely to be introduced by 2010.
If the Developers Autocracy does not grant planning permission at Becbay the investors will lose perhaps a further one to two billion Euro in future gains. More immediately, the house of cards involving DDDA, Anglo and Becbay could collapse when “non-nationals“ demand their cash back.
He’s not the slap-’em-up type of builder”
said one conservationist, who credits his sister, Shelley McNamara, with sparking his keen interest in the architectural innovation that marks out his projects.
__________
http://www.irishtimes.com/newspaper/breaking/2009/0302/breaking53.htm
http://galwaytent.blogspot.com/2009/02/ddda-director-story-anglo-irish-banks.html
http://www.independent.ie/opinion/analysis/the-man-whose-business-success-was-built-on-the-wings-of-political-failure-134660.html
http://news.bbc.co.uk/2/hi/science/nature/7935159.stm
Becbay, Money, Dublin Developers Autocracy, Dublin Docklands Authority, Anglo Irish Bank,
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March 12, 2009 at 8:00 pm
€47,000,000,000 Up In Smoke.
Goodbody Stockbrokers expects the six Irish lenders to write off a total of €27.7 billion over the three worst years of the crisis, 2009 to 2011, and €35 billion over four years, to 2012.
Analysts at JPMorgan estimated last week that loan losses at the Government-guaranteed Irish-owned lenders, excluding EBS, would reach €26.9 billion and that they may require a further €12.9 billion injected in capital, in addition to the €7 billion being invested in Allied Irish Banks (AIB) and Bank of Ireland.
http://www.irishtimes.com/newspaper/finance/2009/0313/1224242800049.html
March 12, 2009 at 8:44 pm
Question 7
Scientists say a chimpanzee in a demonstrated an ability to plan for future events. What exactly did the chimp do?
A: He collected stones to attack local residents
B: He hoarded peanuts, in order to treat his fellow chimps to a feast
C: He rehearsed a chest-thumping display in private, until it was good enough to put on in an Oireachtas hearing
D: He was appointed to the board of Dublin Docklands Developers Autocracy