Bolshie nationalisation of banks?

[cathal maguidhir]

"reasonable return "having evaded many attempts to capture one of these for scientific analysis,,the depression provoked frantic attempts by the world trade organisation as a last ditch action before it went into extinction,,and after killing and mounting (NO not that way)the specimen was scanned using an electron microscope ,and to their amazement ,written across the dead beast was ,"AS much as you can extract on an ongoing basis" several right wing free market eCONomists,were quoted as saying for funk sake we all know that

[Big Bobo]

ICTU are talking about buying out the banks. It would be better to just seize them like Chavez did in Venezuela. Wouldn't go down too well with the EU but if you believe what Micheal Martin and Co say our name is already mud with the EU - might as well be hung for a sheep as a lamb.

I don't see how it could take €4billion to buy these banks considering the amount of toxic loans they have given out. Surely their value must be negative at this stage.

[cathal maguidhir]

"There are few defenders left of government nationalised business which leads to corruption, cronyism and stinks of bureaucracy." ok ok public private partnership ,you bleed one, we bleed one, just keep it quiet

[patslatt]

ICTU are talking about buying out the banks. It would be better to just seize them like Chavez did in Venezuela. Wouldn't go down too well with the EU but if you believe what Micheal Martin and Co say our name is already mud with the EU - might as well be hung for a sheep as a lamb.

Seizing other peoples' property is the act of a thief and a thug. Fortunately,there is an Irish constitution that forbids it.

[hopi watcher]

Seizing other peoples' property is the act of a thief and a thug. Fortunately,there is an Irish constitution that forbids it.

Pity that same constitution was not employed when the building speculators, aided and abeted by the banks, where behaving like 'thieves and thugs' sucking everyone else dry.

[cathal maguidhir]

big bobo you have forgot about the money multiplier ,,Money creation

The process of fractional-reserve banking has a cumulative effect of money creation by banks.[4] In short, there are two types of money in a fractional-reserve banking system:[6][7][8]

1. central bank money (money created by the central bank regardless of its form (banknotes, coins and electronic money loaned to commercial banks))
2. commercial bank money (money created through loans in the banking system) - sometimes referred to as chequebook money[9]

When a loan is funded with central bank money, new commercial bank money is created. As a loan is paid back, the commercial bank money disappears from existence.

The table below displays how loans are funded and how the money supply is affected. It also shows how central bank money is used to create commercial bank money. An initial deposit of $100 of central bank money is lent out 10 times with a fractional-reserve rate of 20%. This means that of the initial $100, 20 percent of it, or $20, is set aside as reserves while the remaining 80 percent, or $80, is loaned out. The recipient of the $80 then spends that money. The receiver of that $80 then deposits it into a bank. The bank then sets aside 20 percent of that $80, or $16, as reserves and lends out the remaining $64. As the process continues, more commercial bank money is created. To simplify the table, a different bank is used for each deposit. In the real world, the money a bank lends may end up in the same bank so it then has more money to lend out.Fractional-reserve banking - Wikipedia, the free encyclopedia

[ame=http://uk.youtube.com/watch?v=rC720Cl3N-0&feature=related]YouTube - Money As Debt 1: what money is & why we are bankers' slaves[/ame]

[cathal maguidhir]

"Seizing other peoples' property is the act of a thief and a thug. Fortunately,there is an Irish constitution that forbids it." except for the Common good as the constitution frequently reminds us

[cathal maguidhir]

Originally Posted by Podolski View Post
ICTU are talking about buying out the banks. It would be better to just seize them like Chavez did in Venezuela. Wouldn't go down too well with the EU but if you believe what Micheal Martin and Co say our name is already mud with the EU - might as well be hung for a sheep as a lamb.,,, huuuu raaaa ,you got the job as finance minister. liaise ,with the minister for ropes and the minister for telecommunications and lampposts,to work out the severance agreements and while you are at it see can you track down that funker who was running F un A nd S ex,,he has got 24 hours head start ,but he shouldn't get far,, his pockets are stuffed with 500,000 hush money .
Mollloy to get E0.5m in FAS severance

(BizWorld)

News In Brief

## State agency chief Rody Molloy will pocket nearly 500,000 euro to walk away from the top job at FAS. The departing head of the agency will receive a severance package equivalent to two years' salary, with the preservation...
Silobreaker: Mollloy to get E0.5m in FAS severance