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About LinkBacksTax payer to bail out banks and bond holders to tune of 90 billion +
[SIZE="5"]Share holders get to keep shares in banks[/SIZE]
[SIZE="6"]This is a con con con, wrong wrong wrong[/SIZE]
Tax payer to bail out banks and bond holders to tune of 90 billion +
[SIZE="5"]Share holders get to keep shares in banks[/SIZE]
[SIZE="6"]This is a con con con, wrong wrong wrong[/SIZE]
We are screwed - this is just a fraud on the people!
Government bailing out the banks to this level is wrong! - a banking system is important; but both the minister and banks have been complicit in misleading the public on the level of the problem. At the start of the year 10bn max - when they recapitalised the banks 7.5bn - now 90bn
This is just pumping our good money after bad - which cronies of the goverment will value these assets/debts and what level of fee will they get - and this rubbish in the speech on those who owe the banks will be chased -rubbish -
The banks have failed by taking security against loans that cannot meet value of the loan. Therefore all the legal system has recourse to is to call on the security or charge which is the land that this govt agency will now BUY from the bank.
Unless some form of reckless or fraudulent trading element can be brought into it and those directors of companies made personally liable this legal recourse to the borrowers is gone - we the tax payer will pay. The system has no stomach to do this - cronies of FF will not be followed in this way!
Sadly it can only be described as reckless abuse of tax payers money to take on these toxic debts - why not sell them to private investment funds if this is the solution and if some furutre profit can be made! IT IS BECAUSE THERE IS ONLY A LOSS HERE!
That is a scary figure sure enough. Back on the iseq thread at the time of the guarantee it was pointed out by many that it was a fatal mistake.
Its time to go to war against Zanu-FF. We need to remove them by force.
You really don't have a clue about banking do you?Originally Posted by JohnCallaghanWill
The taxpayer is already liable for the bad debts in the banks.
A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.
Lets be clear you are the fool not I.
Why does the tax payer bail out the Shareholders with their tier one capital
Why does the tax payer bail out the Tier two taxpayers
Goose bump when you understand what tier 1 and tier 2 capital is you will understand we are being screwed
Those who didn't have a clue were the 2 who assigned the bad debts onto the backs of the taxpayer.
What are Tier 2 taxpayers?
By the way, this plan in relation to a 'Bad Bank' was proposed by Richard Burton several months ago, which prompted you to start a thread expounding its virtues.
A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.
The potential maximum book value of loans that will be transferred to the Agency is estimated to be in the region of €80 to €90 billion, although the amount paid by the Agency will be significantly less than this to reflect the loss in value of the properties[/B]. In the longer term, if the Agency were to fall short of recouping all of the costs, the Government intends that a levy should be applied to recoup any shortfall.
Can they be trusted not to pay greater than market price for these "assets"? What the hell is "market price" I hear some of you say.
Who owns the Tier 2 captial? FFers?
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