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Thank you for that information although I am not certain that Mr Quinn would have been directly involved as he joined the BoE as an economist which was his PhD.

 

My comment was simply based on the fact that he is qualified as an economist and had experience with the IMF as well as the BoE and as Chairman of the Celtic plc.

 

The fact it is obvious where his allegiance would lie in Glasgow terms is another matter altogether and I make no comment on that, other than what I said about him recusing himself from any discussions involving Rangers.

 

"Brian Quinn, 68, is best known today as the chairman of Celtic plc, the holding company for the Glasgow football club. But he was senior banking supervisor when the Bank of Credit and Commerce International collapsed with £7 billion of undeclared debts in 1991, leaving thousands of depositors out of pocket."

 

http://www.theguardian.com/money/2005/jun/12/accounts.business1

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"Brian Quinn, 68, is best known today as the chairman of Celtic plc, the holding company for the Glasgow football club. But he was senior banking supervisor when the Bank of Credit and Commerce International collapsed with £7 billion of undeclared debts in 1991, leaving thousands of depositors out of pocket."

 

http://www.theguardian.com/money/2005/jun/12/accounts.business1

 

Thanks, I stand corrected.

 

The only thing I can say in my favour is that I advised clients at the time not to deposit money in BCCI because I couldn't see where they were getting their ridiculously high interest rates from.

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I see they are claiming that they paid going market rates in their press release tonight.

 

 

I particularly liked this robust part...

 

"Any suggestion that Celtic has been the beneficiary of state aid is preposterous — as ludicrous as any suggestion that we have benefited from soft loans from our bankers.

 

http://www.dailymail.co.uk/money/markets/article-2514682/Co-op-Bank-slammed-cheap-loans-Celtic-Football-Club.html

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it's a clever quote that one, D'Art. It is well worded: it is correct - they are both equally ludicrous. They are both also true ....but it is ludicrous they got away (have so far got/will sadly almost certainly get away) with them

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