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Thread: Peter Matthews says Bank liabilities are 66 billion and should be shared.

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    Default Peter Matthews says Bank liabilities are 66 billion and should be shared.

    On Newstalks wide Angle this morning, Peter Matthews outlined how he believes the total cost of Bank liabilities in the state guaranteed Banks is 66 billion. He believes that the State is liable for 40 billion and the Bondholders in all Banks are liable for the other 26 billion.

    He outlined which bondholders in which Banks are liable for what amount.

    He reckoned that a 6 man committee should be set up to meet with all the interested parties and outline how this would work.

    He also believes that 20 billion of the 40 billion is recoverable in 5 years.

    It was very interesting and very detailed. When questioned as to why it was not already in place, he said it was human nature to try and run and hide from mistakes and was quite understandable when people are talking about jail and court cases.

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    Politics.ie Member Catalpa's Avatar
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    Quote Originally Posted by MPB View Post
    On Newstalks wide Angle this morning, Peter Matthews outlined how he believes the total cost of Bank liabilities in the state guaranteed Banks is 66 billion. He believes that the State is liable for 40 billion and the Bondholders in all Banks are liable for the other 26 billion.

    He outlined which bondholders in which Banks are liable for what amount.

    He reckoned that a 6 man committee should be set up to meet with all the interested parties and outline how this would work.

    He also believes that 20 billion of the 40 billion is recoverable in 5 years.

    It was very interesting and very detailed. When questioned as to why it was not already in place, he said it was human nature to try and run and hide from mistakes and was quite understandable when people are talking about jail and court cases.
    If the Irish State guaranteed ALL the liabilities of the Banks then how are Bondholders now liable for €26 Billion of them?

    Anyone?

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    Quote Originally Posted by Catalpa View Post
    If the Irish State guaranteed ALL the liabilities of the Banks then how are Bondholders now liable for €26 Billion of them?

    Anyone?
    Matthews actually covered that. He said that the blanket guarantee was given under extreme duress and was done without the neccessary due dilligence and under most laws could be reversed.

    It also runs out at the end of the month.

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    Quote Originally Posted by MPB View Post
    Matthews actually covered that. He said that the blanket guarantee was given under extreme duress and was done without the neccessary due dilligence and under most laws could be reversed.

    It also runs out at the end of the month.
    Its being extended to the end of the Year.

    Id the Gov. calls a halt then it could be another story though

    - but we are still down all the money (€25 Billion?) already committed...

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    Quote Originally Posted by MPB View Post
    Matthews actually covered that. He said that the blanket guarantee was given under extreme duress and was done without the neccessary due dilligence and under most laws could be reversed.

    It also runs out at the end of the month.
    Those involved would have to fess up to all of the above.

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    Quote Originally Posted by Catalpa View Post
    Its being extended to the end of the Year.

    Id the Gov. calls a halt then it could be another story though

    - but we are still down all the money (€25 Billion?) already committed...
    As I said he went into great detail. The only money that would be lost on top of the 40 billion was the 7 billion given to AIB and BOI, all of the other money destined for Anglo and the rest, including AIB and BOI is included in the 40 billion.

    He reckoned 42 billion for Anglo, 6 billion for INBS, 1 billion for EBS, 10 billion for AIB and 7 billion for BOI.

    But as I said in the OP, he reckoned 20 billion was recoverable to the taxpayer within 5 years.

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    Quote Originally Posted by MPB View Post
    But as I said in the OP, he reckoned 20 billion was recoverable to the taxpayer within 5 years.
    The only way that's possible is if we do a Martin Cahill on it and rob the bank of our own money.
    "A govt big enough to give you everything you want, is strong enough to take everything you have" Thomas Jefferson

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    Will that Mathews piece be uploaded to the Newstalk player later, can anyone advise, please? Because I'd really like to listen to it.

    (Or maybe it'll be uploaded to his website later).
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    Just a thought . But if I was being hung out to dry like Seanie and Fingers have been , I would be singing like a canary . Yet these guys are staying Mum on what they know about corruption .

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    Quote Originally Posted by ALAN42 View Post
    Just a thought . But if I was being hung out to dry like Seanie and Fingers have been , I would be singing like a canary . Yet these guys are staying Mum on what they know about corruption .
    Yep, I totally agree with you there. Why haven't these guys sang? Maybe some sort of Omertá is in play???
    ''The tattoo has a profound meaning: the superficiality of modern man’s existence.'' - Theodore Dalrymple

    "Any fool can make something complicated. It takes a genius to make it simple." - Woody Guthrie

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