A financial kneecapping
A forgotten victim of the credit crunch is... the Provisional IRA, according to the Irish Sunday Independent.*
Sources say that in recent years the IRA's financial bosses moved large amounts of money through front companies into a number of Wall Street financial institutions that were offering high dividends, but which have been devastated by the sub-prime market collapse. One source put the amount invested in the US institutions at €200m. They said most of this was made through the sale of commercial properties mainly here in the Republic.
*NB: not a reliable source when it comes to the Provos. But this is one of the stories that really ought to be true.
Sources say that in recent years the IRA's financial bosses moved large amounts of money through front companies into a number of Wall Street financial institutions that were offering high dividends, but which have been devastated by the sub-prime market collapse. One source put the amount invested in the US institutions at €200m. They said most of this was made through the sale of commercial properties mainly here in the Republic.
*NB: not a reliable source when it comes to the Provos. But this is one of the stories that really ought to be true.
Labels: Ireland, we're screwed
posted by buff and blue at 9:54 am
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