Feb 22, 2010


This story from the Indo is almost beyond belief - h/t from mediabite on Twitter

NAMA-BOUND property developers Derek Quinlan, Treasury Holdings' Johnny Ronan, Ballymore Properties' Sean Mulryan and Paddy McKillen, one of the so called "Anglo 10", have all emerged as major donors to the Vatican.

The property developers were named in the top 10 borrowers whose loans were bound for Nama in the first wave of transfers last week. Some €16bn worth of loans associated with the 10 biggest borrowers are set to be transferred shortly...

Close to €9m was raised from donors for the restoration project. The donors were given special medallions after a private mass in the Pauline chapel, celebrated by Cardinal Lajolo last July. Solid gold 'Michelangelo' medallions were given to donors who had given more than $1m, with silver 'Raphael' medallions for donors of $500,000 plus. 'Bramante' medals were presented to donors of $250,000 or more. A marble plaque listing the names of all 26 donors, including the Irish builders and bankers, was unveiled in the chapel.

That there are significant links between the Golden Circle and the Vatican feels creepy to me. The Golden Circle represent all that is rotten in Irish property development and banking and they are donors to the Vatican. The same Vatican that covered up the child abuse of thousands in the Dublin Archdiocese. It is repugnant

What was the backhander? Gold medals are one thing but that's no reason for developers to give so generously. They're not exactly known for their generosity to the Irish state anyway.

Given that the taxpayer is paying their debts, the gold should be sold and put towards the reduction of same.

It just makes me wonder, what else is going to be revealed.

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