Enda Kenny, Irish Banks, and "Vultures": Is he right?

[yehbut_nobut]

Enda has said that the Government should not allow Irish banks to be sold to

vultures circling around to see if they can make a quick buck out of Ireland's difficulties'.

He also stated that any deal should serve the long term interest of the country, and not

' the narrow self-interest of bad banks, private venture capitalists and delinquent developers'.

Thats seems like pretty strong, and stirring stuff. Is he stepping up to the plate (to borrow an americanism)?

[draiocht23]

Enda has said that the Government should not allow Irish banks to be sold to

He also stated that any deal should serve the long term interest of the country, and not

Thats seems like pretty strong, and stirring stuff. Is he stepping up to the plate (to borrow an americanism)?

I was there for his speech...he got a prolonged standing ovation (although considering the crowd, it's hardly a surprise).

His speech was very good. His voice was even raised, booming in fact -and it even seemed quite credible.

[goosebump]

Enda has said that the Government should not allow Irish banks to be sold to vultures...

Since when is it up to the Government who private individuals sell their shares to?

But then again, this is FG, so facts and reality and optional.

[draiocht23]

Since when is it up to the Government who private individuals sell their shares to?

But then again, this is FG, so facts and reality and optional.

It seems a no brainer - I know I'd prefer if the government had preference shares rather than venture capitalists

[wysiwyg]

Is he stepping up to what plate ?

It's not going to be his decision which or whether ?

What's happening with the banks and the banking crisis is sickening... from a political point of view. What you have are political parties who've spent years talking about the Free Market and how it cures all ills.. and then when the free market screws up.. as every other capitalist system has.. they now want a get out of jail free card.. at the taxpayers expense

Yet Enda Kenny, nor FF in fairness either, will face up to what is needed.. i.e. nationalise one of the banks to ensure a continuation of the banking system, and leave the rest of them sink or swim in the marketplace

[wysiwyg]

Since when is it up to the Government who private individuals sell their shares to?

But then again, this is FG, so facts and reality and optional.

Knowing FG they probably want to offer the shares off.. with a promise to re-imburse the buyers in case they lose

[yehbut_nobut]

Since when is it up to the Government who private individuals sell their shares to?

But then again, this is FG, so facts and reality and optional.

Since they agreed to guarantee the banks maybe?

He did warn of the nightmare scenario of an Eircom-style firesale. you know, the one that left us with p!$$poor broadband, because the asset strippers won't invest in the network. Wouldn't it great for both business and ordinary folk if the countries banks were run like that?

[Bobert]

Well, the people who are interested are the Carlyle Group.

In a statement, Bank of Ireland said it has received "unsolicited approaches from a number of parties wishing to make an investment in the group. No decision on these approaches has been made. Bank of Ireland will keep its stockholders informed as appropriate."

B of I confirms 'unsolicited approaches' from investors - The Irish Times - Fri, Nov 21, 2008

http://www.irishtimes.com/newspaper/...7137526179.htm

However, we also have this:

This lunchtime, Irish Life & Permanent said it had been in discussions with the EBS Building Society about how the two institutions might work together 'in the current market environment'.

http://www.rte.ie/business/2008/1121/saving.html

So, what that suggests to me is that we have a choice of loading BOI with massive financial burden or allowing Americans to take over.

[pfkf]

Knowing FG they probably want to offer the shares off.. with a promise to re-imburse the buyers in case they lose

If you think that, you haven't been paying attention for the last 6 years, Richard Bruton is the best spokesperson on finance and should be our minister for finance.

Just separate to this, who would people rather finance spokesperson:

Richard Bruton Vs Brian Lenihan

Health Spokesperon

Dr. James Reilly Vs Mary Harney

Enterprise, Trade and Employment Spokesperson

Leo Varadkar Vs Mary Coughlan

Education Spokesperson

Brian Hayes Vs Batt O Keefe

Taking those 4 examples, and taking the leaders of both parties who would you want to be Taoiseach

Enda Kenny Vs Brian Cowen?

[Vega1447]

Since when is it up to the Government who private individuals sell their shares to?

But then again, this is FG, so facts and reality and optional.

Nobody will buy the fecking shares unless the Govt==(you and the rest of us)
guarantee the sale so yes it *is* up to the Govt. and well said Enda Kenny.

He may be a lightweight but at least he is not a FF g0bs41t..