In a delightful twist of irony, the Sinn Fein/IRA terrorists have lost some during the recent financial meltdown.
The IRA may have lost a substantial amount of its fortune in the banking collapse in the United States, according to republican sources.
Sources say that in recent years the IRA's financial bosses moved large amounts of money through front companies into a number of Wall Street financial institutions that were offering high dividends, but which have been devastated by the sub-prime market collapse. One source put the amount invested in the US institutions at €200m. They said most of this was made through the sale of commercial properties mainly here in the Republic.
Advisors brought in by the IRA in the aftermath of the 1997 ceasefire directed that IRA money be invested in the then booming property market. According to the sources, the same people advised to get out at the top of the property market and sink the money into high-dividend deposit accounts in Wall Street in the past few years.
And the terrorists' bankers have been wining and dining them:
Mr Adams and senior Sinn Fein figures enjoy an extraordinarily lavish lifestyle in the US, staying in suites in top hotels and dining in top restaurants. During his visit to New York for this year's St Patrick's Day celebrations, Mr Adams had lunch with top Wall Street financiers at Bobby Van's restaurant on 54th Street, a favourite haunt of Frank Sinatra and his Rat Pack in the Fifties and Sixties.
According to republican sources, however, large amounts were deposited with the very same high-yield financial institutions in Wall Street which were making extraordinary profits on the back of the sub-prime market in the US. The sources say that recent indications are that the IRA has lost heavily.
This matter should be investigated and anyone in the financial industry who is stashing the terrorists' money should be prosecuted.