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Posts Tagged ‘Irish Republican Army’

With Wall Street wavering and populists left and right decrying corporate greed, we may be losing sight of the real victims in the current financial crisis:  The Irish Republican Army.

As per the British and Irish press, the IRA may have lost a substantial amount of money in the banking collapse.  Sources say that the IRA’s financial bosses had moved large amounts of money through front companies into a number of financial institutions that have suffered in the sub-prime crisis.  We’re talking about as much as USD $250 million.  According to sources:

“…one senior IRA finance figure made four apparently frantic visits to New York as the markets began showing signs of impending disaster and then collapsed.”

Whatever the relationship between the IRA and its political wing, Sinn Fein was also already in a bad way.  Despite having traditionally been quite well-funded, (the money laundering will do that,) Sinn Fein is suffering its own financial problems.  According to the Belfast Telegraph:

“…since mid-2007 it has been hit by a series of resignations, mainly of full-time workers and councillors. According to one source one of the current sources of disillusionment among the remaining 50 or so councillors in the Republic has been the withdrawal of “political operating expenses” to top up their council salaries and expenses which rarely exceed €30,000 a year.”

Do them all a solid and drop a buck or two for a pint at your local IRA bar.

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