State to take 15% stake in BoI.

[Cassandra Syndrome]

Why would Bank of Ireland and AIB want to be nationalised?
There is no benefit for them or to their shareholders to do this and I cannot see that will happen.

BoI couldn’t pay in cash due to the EU rightly stopping them from doing so. That will reduce the share price on Monday. This really makes the stock a gamble which I think is of good value if purchased next week.
Unfortunately the banks made some bad decisions, like the majority of the developed world did due to greed and over confidence while the people in the country borrowed more money than they could afford because the banks gave it to them. It is worth pointing out that the people had a hand to play. This all was going on while the watch dogs put in place to monitor transaction the banks fell asleep at the wheel.
At that stage governments and therefore tax payers had step in due to the high risk of entire economies clasping which would of resulted in wide spread poverty and hunger along with a high chance of rioting and violence to an extent of which a complete collapse of our entire country would of been inevitable. A chain reaction would then have continued until the strongest economies survived while billions of people are left with nothing.

To avoid the above re-financing the banks was necessary until consumers start to spend money again. This will be done by setting NAMA which in a nut shell clears the books of bad loans in the hope that they raise in value over a ten year period.
That is the situation. Can we just get on with it? If you feel so strongly about the way things are being run join a party of your choice and get involved in politics. Surely the events that have unfolded show the poor standard of elected officials we have in this country. So get involved and change or influence decisions instead of moaning about them.

P.S. On a sarcastic note I loved the way government was spelt wrong on one of the post. What an absolute classic that was.

You make some good points there. Put George Lee's short stay as TD speaks volumes about the redtape within the political system. Could you imagine me, Digout, Hammer and other posters here who have a ploughman's roll up your sleeves approach to problem solving, trying to make it as TDs? I would say there would be Breaking News for different reasons than politics from Leinster House.!

I'm a fan of the Austrian School of Economics. They seldom get involved in politics. They most renowned politician who is Austrian School is Ron Paul. Peter Schiff is going to run in 2010. Apart from that, the Austrian School Economists tend to freelance. They advocate a more intellectual styled revolution. People learning to co operate with less intervention from the government etc.

[Cassandra Syndrome]

by Dutchmen, not aliens

[rubensni]

So piss your own money away if you want but please do not advise others to do the same. There might be a few people on this site a little the worse for wear and after finishing with Play TV they might just take you up.

[sandar]

Ironically, me being a believer in real Capitalism (not that neo Liberalist tripe), Joan Burton is someone I have warmed to in the past 2 years.

I think I would disagree with your definition of real capitalism but agree with the rest of your post

[turdsl]

It was 31,000,000 now worth 600,000, that was valued during in the high court last week
There will be no lending from banks for a generation

[Cassandra Syndrome]

Bank of Ireland shares opened down 10%. Not quite the sell off as expected.

[FakeViking]

And Lenihan is allowed to lie through his teeth uninterrupted by Radio FF!

[constitutionus]

Bank of Ireland shares opened down 10%. Not quite the sell off as expected.

at 1.18 now , which considering it closed at 1.26 is a drop of 6.38%.

now its VERY early and you really should watch for the next five days or so to know the trend but thats alot less than i was expecting.

i thought it was gonna hit 1 euro considering we were talking about 20% of the banks total value.

looks like most people have factored in majority nationalisation of BOI.

makes you wonder what this means for AIB in may?

[Cassandra Syndrome]

at 1.18 now , which considering it closed at 1.26 is a drop of 6.38%.

now its VERY early and you really should watch for the next five days or so to know the trend but thats alot less than i was expecting.

i thought it was gonna hit 1 euro considering we were talking about 20% of the banks total value.

looks like most people have factored in majority nationalisation of BOI.

makes you wonder what this means for AIB in may?

March will tell all, as that is when the ECB pulls back on its unlimited lending. From then on it will only accept triple A mortgage back securities as collateral. News of property being sold off at 98% reduction do not suggest much in the way of triple As out there.

I say you are spot on that the increased ownership is priced in to the value last week.

[hammer]

Will it not be easier for BOI to raise cheap finance from sources if the Government are "backing" the Bank..............indefinitely.

When does the €440,000,000,000 gurantee run out