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About LinkBacks....tell us more! AIB? Anglo? Do tell !Originally Posted by AMCW177
....tell us more! AIB? Anglo? Do tell !
Let the banks fail? Are you crazy? This shows just how dangerous the Left is in this country, including the Labour party.
I have savings in one of the main banks. I worked incredibly hard over several years for those savings as have the entire country.
Letting the banks fail is not some abstract thing that won't affect anyone.
Think about it before you call for letting the banks fail.
Letting the banks fail would only reward those people who spent all their money and didn't save.
If you think there hasn't been a revolution up to now, there will definately be a revolution in Ireland if the banks fail, because people have their life savings in those banks.
I despise FF. But they have a duty to protect people and their savings and it's time people accepted that.
Hi New Beginning,
Mind if I take you up on your post. Why do we need AIB, BoI, Anglo, EBS, Nationwide and Permanent ? We have lots of other banks e.g. NIB, Ulster, Halifax etc.
If we bail out the banks we will lose something between 20-40Billion. Since the powers that be are trying to rally around 20 I'd say the final figure will be north of 40Billion. Divide 40 billion by the number of employed paying tax in Ireland (say 2million minus 1/3 = 1.3million). That's more than 30,000 extra debt per person. Now that's what I call a systemic risk.
I am an Ulster Bank customer - why should I pay the debts of AIB ?
And we know that unless we shell out even more the banks still won't start relending. In fact the banks are holding the entire economy to ransom by cutting of the oxygen of liquidity to normal businesses (did I hear the head of Aer Arann can't get an overdraft for a business with a multimillion turnover). The banks are not nice people.
Yes - guarantee deposits but tough t*tty to the bond holders (read - speculative casino capitalist lenders). These guys are professional gamblers - they are used to taking a hit now and again. They will get over it the moment you offer them a better deal and the waft of new profits.
If you have deposits over 100K and were silly enough to leave them in for the high interest rates then you should only get it back at say 20K p.a. You can still borrow against the sum if you need it sharpish. And we could use the NTMA (any money left ?) to fund businesses that keep emplyees.
there are lots of better ways to fix this but while Brian thinks bank debt and state debt are the same we are screwed (for €30,000 each + interest)
The future pain was preferable to Brian than the immediate pain.
They did not have the cash to cover the deposits up to 100000 so the banks would have collapsed and the depositors would have lost their money
They might be too dumb to understand future debt commitments but they would understand losing all their money today without too much difficulty.
Encourage new banks to set up in the country, by tax exemptions for a certain period (the higher the level of exemption then the more investment and at a quicker rate will occur).
Banks who have bad assets on their books should manage those assets themselves, they risked their own capital and the risk should not be shifted from them to the taxpayers.
If these assets are so risky then it makes no sense for the state to take responsibility for them. There is nothing the government are planning to do that the banks can't do themselves.
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David Murphy is probably a very nice guy, but he's the least confident, most nervous performer on RTE. Knowing a little about the stock market, company accounts and banking, I find him lacking in credibility on any of these topics.
RTE would be daft to promote Murphy to Lee's job. They should focus instead on training him properly to do his present job competently, whatever that job is supposed to be.
what ur forgetting about BOI is they are lying through their teeth about their bad debts!
Anglo just got another 4 billion bailout. The country could be bankcrupt by the time NAMA start working.
Time for the Irish Goverment to do the honorable thing and go. If thay have any honour left.
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