
February 2016 7
He told Marian, always agog at a bit of devel-
oper vim, “There is an enormous humanitarian
crisis of epic proportions which is causing a
great deal of human suffering. It is proportion
-
ally much larger than the Syrian refugee crisis”
with up to 300,000 people on the housing list.
Barrett also tells a provocative anecdote of a
local authority renting “a house at €8000 a
month on one of Dublin’s two best roads to
house a homeless mother with four children,
costing the state a fortune”.
But, intriguingly, he has the answer: “I have
formed a series of investment companies, (in
Housing, Social Housing, Health Care, Renew-
able Energy) [all, for some reason, called
Bartra]. We will build these facilities renting
them to the Irish Government”. He sees it as a
sort of “social payback because I don’t need
the money”. He wants a Tsar to oversee the
crisis. Villager doesn’t want to be presumptu-
ous and Richard will be busy, what with China
and all that dodginess and machismo to venti-
late, but he is himself a pre-eminent candidate,
if too shy to say so. Otherwise, Johnny? Michael
O’Leary? Ben Dunne? All Tsars in Villager’s
mind, already.
Treasured memories
While we're here let's not forget that Treasury
Holdings went bankrupt owing €2.7bn, €1.7bn
to Nama alone.
This suggests they cost the country around
€700m. It also seems almost small-minded to
dwell on the fact that in March 2012 three sub-
sidiaries of Treasury Holdings transferred their
interest in a company called CREO to another
Treasury subsidiary called Daylasin in return
for €18.6 million in unsecured loans notes (in
effect IOUs). Nama believed the shares were
worth €28.3m. Treasury then transferred its
100% interest in Daylasin to Barrett and Ronan
for €100,000. Barrett also took over two other
companies for something close to one-fifth of
their real value. Any nastiness on the criminal
front was averted by a civil settlement.
In the end we'd be better with less pontifica-
tion, less dicing with fraud, and our money
repaid.
Finagling Finucane
Former Justice Minister and eminent senior
counsel, McDowell announced on a recent
Marian Finucane programme that he regrets
international inequality. The thing is that when
he had power he consciously and successfully
promoted inequality. In 2004 he told ‘The
Economist Survey’ of Ireland that “Fifteen
years ago, political conversation was about
economic failure and poverty. Since then,
absolute poverty has fallen sharply. Inequality
is as an inevitable part of the society of incen-
tives that Ireland has, thankfully, become”.
Villager believe if you disgrace yourself on
as central a political issue as inequality there
is no come back. Being discredited, either you
cast yourself into the political wilderness or
you apologise.
McDowell also defended, without demur
from the typically regressive Finucane panel,
his 2006 vision of abolishing stamp duty which
would have further inflated property market.
Finucane continues to pack her radio show
with PR and lawyer guests. No-one really
knows why.
Michael, Michael and Michael
Mind you, Villager is biased. McDowell is rep-
resenting Michael McLoone – former Donegal
County Manager and focus of the ongoing
Department of the Environment ‘review’ on
Donegal Planning - in a defamation action
against Village. Proceedings were intiated over
a year ago but seemed to be moribund. Until in
January McLoone’s lawyers decided to try to
undermine one of Village’s principal defences,
that it was reporting court proceedings, in par-
ticular the affidavit that former Donegal senior
planner, Gerard Convie, had opened in court
which made serious allegations about
McLoone and others. McLoone has recently
obtained, by order, the digital audio recording
of the court proceedings in the case Convie
successfully took against the Department of
the Environment after it dismissed his com-
plaint about the propriety of Donegal planning
as ungrounded in evidence. The recording
shows that no affidavit was opened.
But that is because McLoone’s lawyers
asked for a recording of proceedings for the
wrong day.
Sugar, Taoiseach?
It is scandalous that the banking inquiry didn't
even ask the banks precisely how their liquid-
ity people allowed catastrophic liquidity
problems to build up.
Meanwhile whistleblower, now-Greece-
based Jonathan Sugarman, who does know,
has been out and about bumping into Enda
Kenny.
Sugarman introduced himself as the missing
link in the banking inquiry and the Taoiseach
listened attentively, in a Dublin café. Before,
according to the whistleblower, going pale. Sug-
arman, whose career was devastated by his
bravery in disclosing breaches of banking regu-
lations by Unicredit Bank was mysteriously
excluded from giving evidence to the inquiry.
Not that Enda cared.
Arise and follow… Seán
Charlie Haughey's son, unexciting Sean, has
a range of shares in banks, oil companies and
pharmaceutical companies but has insisted
that his extensive portfolio will not pose a con-
flict of interest if he is elected again as a Fianna
Fáil TD. The former minister of state owns
shares in 42 different companies including
Amazon, Apple, Burberry and McDonald’s.
Charlie, of course, received the equivalent
of €45m in gifts between 1979 and 1996 from
some of Ireland’s richest men. On one occasion
Haughey sent the chairman of the revenue com-
missioners to meet supermarket mogul Ben
Dunne as a result of which capital gains tax for
the tycoon’s family was reduced by £22m in
return for payments of £282,500 from Dunne
to Haughey. The Moriarty Tribunal also found
that Haughey stole a "sizeable proportion"
from the Brian Lenihan medical fund – Lenihan
was Haughey’s loyal deputy who was dying
from Liver cancer.
It is surprising Charlie's family was not pur-
sued for any of the €45m proceeds of the sale
of Kinsealy, his Georgian estate, since some of
it was paid for with tainted funds. And now it
seems, Junior, has converted some of his share
to stocks.
Topping up the pension
Dick Roche, former Fianna Fáil Minister for the
Environment and European Affairs and annual
€50k-government-pensioner, has declared cli-
ents worth €500,000 in his filing for the EU
Transparency Register. These include a con-
tract with Chinese mobile-phone company
Huawei worth €100-200,000, and contracts
with Deloitte and a company producing dis
-
credited biofuels.
Since his ignominious demise in 2011 Roche
has headed the Skill Set agency. Thankfully it
detains him in Brussels much of the time.
Mind you, very day Alan Kelly continues in
office as Environment Minister, Dick Roche
looks better.
Not missed, but better then Kelly