Dermot Desmond’s contribution to the GFC

May 7, 2013

Thanks to Adam (@Random Thoughts Re Scots Law) for highlighting this report


Dermot Desmond degree


Dermot Desmond was the major conceiver of IFSC [International Financial Services Centre] in Dublin which was a major contributor to the Global Financial Crisis, due to the lax regulation by the Irish regulator.  His company, International Investment &Underwriting [IIU], boasts of his involvement and he has accepted accolades and an honorary degree for creating the IFSC.  However it’s impact on the financial world and the economic health of nations has been disastrous.

I’ll not go into Dermot Desmond’s attendances at some of the Irish corruption Tribunals, incl. Moriarty, which were attempts by Ireland to clear up the corruption which occurred during Charles Haughey’s prime ministership & beyond.

The Tribunal reports are amazing documents. Even though they state the corrupt acts, transactions, untrustworthy evidence & actors, including Dermot Desmond, they don’t say outright ‘these persons are corrupt’ – that is left unsaid. One reason for this is obvious – a large contingent of…

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