Post Your Favourite Brian Goggin Quote (1 Viewer)

[Pantone247]

Feb 12th



Mr Goggin was speaking after the bank increased its forecasts for possible losses on property loans to €6 billion for the three years to March 2011.


The Government confirmed last night it is to provide €3.5 billion to the bank in return for preference shares with a fixed dividend of 8 per cent payable in cash or ordinary shares.

He accepted the bank had made “mistakes” and “lending decisions in the past that are now coming home to roost”.

But he declined to apologise, saying “I am not so sure it comes to an apology as such. I do regret some of our decisions. I have to balance that with lots and lots of very good decisions that we have made.

“And I suppose that if I have a regret, my regret is that I didn’t see this coming and perhaps the lessons of economics were forgotten. Economics ultimately are cyclical,"

 

[Pantone247]

Meanwhile, Brian Goggin of Bank of Ireland - an organisation which had been bailed out the previous day by the Irish people, at a cost of €3.5 bill ion - appeared to be attempting to invite sympathy for suffering a salary cut to just under €2 million.

In an interview with RTÉ, Mr Goggin said his salary would be “substantially down” on his earning last year. What did he get then? “I think . . .” I think?
“I think my disclosed total compensation was €2.9 million.” And what is he looking at now? “Less than two million.”

 

[Wobbler]

In fairness, if my salary was reduced by a million, I'd be skint.