Anglo Irish Bank's bad loan losses expected to reach €14bn

[anewbeginning]

During the so-called good times, you were hailed as a genius in the media if you were involved in high-risk property adventures.

Big time developers and the bankers were the darlings of the media and social commentators like Barry Egan.

If you were prudent you were despised. If you were a risk taker and reckless, you were admired.

The bigger the risk taker with other people's money, the bigger the admiration among FF circles.

Because in FF circles, the rogue is always admired more than the honest decent person, hence the popularity of Charlie Haughey and a couple other FF Taoisigh since.

[Harmonica]

Given the massive losses by Anglo how is possible that by keeping it open we will lose less money? Good and bad loans will move to Anglo so what is left?

Is this just not (expensive) state subsidising of Anglo Irish jobs?

[joel]

Because for the last two years the entire political and media system has refused to countenance the only sane course of action: letting normal commercial reality take its course and putting these insolvent turkeys into liquidation.

When the only sane, rational, route is blocked off, you get headbangers yelling for crazy loonytunes notions like nationalisation, recapitalisation and NAMA.

Yes, they did very well when they were private! Might as well Nationalise since the Irish will have to support them anyway.

[PrinceMax]

They should have let all the banks go under. There should be no guarantee on savings. If there was no guarantee on savings, savers would be more inclined to hold their banks to account. They'd demand more sensible risk taking from a bank. Nobody could lose with the banks - except the taxpayer.

[He3]

€2,133.

This is what Anglo Irish "Bank" cost every single man woman and child in the country over the past twelve months.

The projected €12bn pre-tax loss comes out of the taxpayers' pockets, and works out at €2,133 per person if the population is 4.5 million.

Much higher per individual taxpayer, obviously.

Thanks Brian.

They are still offering 3.5 per cent on your savings