Spare a thought for the poor bankers.

[mollox]

Out of curiosity, I looked up the last published accounts of the 3 main banks AIB, Anglo & BOI to see how the main men involved there might be suffering financially from the catastrophic collapse of the share prices of their banks.

Anglo - only issued preliminary accounts for y/e 30/9/08, the last published full set of Annual Accounts was for the year ended 30th September 2007
At that date, Chairman Sean Fitzpatrick owned 4.5m shares, which would have been worth €75m+ at their peak price.
Chief Executive David Drumm owned 511k shares, worth €8.5m+ at peak, and had 1.2m share options.
All the above are probably worthless.

AIB – last published accounts are for year ended 31st December 2007.
At that date, Chief Exec Eugene Sheehy owned 256k shares, worth c. €6m at their peak price. Today they’re worth about €250k.
In addition, Sheehy had 120k share options and a further 251k in a Long Term Incentive Plan scheme – all of these are presumably so far under water that they’re worthless.

BOI – last published accounts are for year ended 31st March 2008.
At that date, Chief Exec Brian Goggin owned 600k shares, worth c. €11m at their peak price. Today they’re worth c. €360k.
In addition, Goggin had 398k share options and a further 402k shares in a Long Term Incentive Plan scheme. All these are now probably worthless.

None of these guys will be on the breadline, but at least they will all have taken a very serious hit to their personal wealth, never mind their reputations.

It’s appropriate that they should be sharing our financial pain.
It may make you feel a little better.

[Outlander]

If they're servicing loans used to buy shares, then they are closer to the bread-line than these figures indicate.

Seanie definitely has such loans

[5intheface]

As Muscailte, I believe, once said, 'If they want sympathy, they can find it in the dictionary between 5hit and syphilis'.

[drbob1972]

What ever about Sheehy and Goggin, i sincerely hope that Fitzpatrick & Drumm are investigated in the most detailed manner and where any evidence of fraud, mal practice or any other form of illegal behaviour are found they are lead out in cuffs and face the strictist of sentencing as well as stripping of all assets and properties, etc if found guilty, as their US counter parts have done in the past, only seeing such consequences at home will it prevent others from the kind of gangster practices Anglo seems to have partaken in.

[stanley]

If they're servicing loans used to buy shares, then they are closer to the bread-line than these figures indicate.

Seanie definitely has such loans

The key to the Anglo investigation will be funds lent to buy their own shares, which were then held as security, these loans had to go by a credit committee, no way could one guy swing it on his own.

If individuals have signed l/g's they can go after their personal assets but if not and were not in their personal names, shlte hits fan, fan hits ceiling and sceptre and crown come tumbling down.