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Thread: Only Bank of Ireland and AIB will remain.

  1. 20th November 2008, 10:11 PM #1
    TradCat
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    Only Bank of Ireland and AIB will remain.

    That is the speculation tonight.

    http://www.rte.ie/news/2008/1120/economy.html

    What will it all mean?
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  3. 20th November 2008, 10:13 PM #2
    Catalpa
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    Don't know TBH

    But there probably won't be any definative announcement until the weekend.
    Europa Conventus Delenda Est
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  4. 20th November 2008, 10:14 PM #3
    draiocht23
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    Quote Originally Posted by TradCat View Post
    That is the speculation tonight.

    RTÉ News: Consolidation an option in bank crisis

    What will it all mean?
    David McWilliams said he was fearful of this on Prime Time just now.

    It was quite a (darkly) funny interview actually. He was giving out about doom and gloom merchants...
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  5. 20th November 2008, 10:14 PM #4
    toxic avenger
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    A former BofI manager I know (who thinks AIB have always been cowboys) thinks BofI won't last either, only AIB...
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  6. 20th November 2008, 10:19 PM #5
    jfk2008
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    Don't forget the Credit Unions.
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  7. 20th November 2008, 10:23 PM #6
    floatingvote
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    But, but, but, were they not trying to round up money from foreign investors??? Could those bloody foreigners be so stupid as to turn down the opportunity of a lifetime?? Have they never heard of the 'flight to quality'?
    They'll rue this for years - or maybe we all will??
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  8. 20th November 2008, 10:26 PM #7
    cyberianpan
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    Bank executives realise
    1) They don't get negative pay for poor performance
    2) Their bank is too big to be let fail

    Thus:
    Crazy risky lending practices.

    Lenihan's masterplan:
    1) Save their bacon
    2) Make them even bigger (consolidation)

    Sad thing is the poor chap isn't dim, just surrounded by some very bad/weak advisers (Dep Finance, Financial Regulator) and some canny banking vampires who are feasting on our finances.

    cYp
    (I posted this first on the other thread which I think should be locked)
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  9. 20th November 2008, 10:28 PM #8
    Squire Allworthy
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    This only makes sense if mergers can produce tangible savings otherwise are we to believe that if you mix a shovel of dirt with another shovel of dirt you get gold. Have the lads discovered alchemy?

    Not a sector I would want to be in.

    It will seriously reduce customer choice.
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  10. 20th November 2008, 10:40 PM #9
    Defeated Romanticist
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    Ulster Bank. Halifax. Rabobank, the CUs. + BOI and AIB. Sounds about right in the current market.
    Liquidate labour, liquidate stocks, liquidate the farmers, liquidate real estate.
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  11. 20th November 2008, 10:54 PM #10
    yehbut_nobut
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    What about EBS? Wouldn't they have to to demutualise (is that a word?) before they can merge?
    “A healthy social life is found only, when in the mirror of each soul the whole community finds its reflection, and when in the whole community the virtue of each one is living”
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