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Thread: €2.7 billion for Irish Nationwide Building Society

  1. #1
    Politics.ie Member seabhcan's Avatar
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    Default €2.7 billion for Irish Nationwide Building Society

    This throw away line is in most Anglo media reports today.

    €2.7 billion for Irish Nationwide Building Society

    2 700 000 000 euro

    Why?

    Didn't NAMA already give them 8 billion for 90% of their loan book? We already own 90% of their business, and we are giving them another 2.7 billion for what exactly?

    Is INBS of systemic importance?

  2. #2

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    Ah sure what's a few billion here and there aye?
    ''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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    Politics.ie Member hammer's Avatar
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    €5,500 million all told -peanuts

    As long as Fingers pays the €1 million bonus to charity and continues to enjoy his €27 million nest egg all is well with backward corrupt Little Ireland

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    Politics.ie Member Libero's Avatar
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    Quote Originally Posted by seabhcan
    Is INBS of systemic importance?
    Clearly not.

    It's not even a bank.

    The fact that INBS has been treated just like a really systemic institution (e.g. AIB, BoI) suggests that for a long time, other factors have been driving decisions, far ahead of an institution's systemic importance.

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    Get Fingers in now and throw away the rule book, break him, he is the worst of the worst when it comes to the bankers/lenders, time to take the gloves off, reserve his bucket in the Joy.

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    When the cost of a bail out starts to approach the actual value of every cent that bank actually leant out, it really is time to start fearing that we are looking at corruption on a biblical scale.

    Think about it.
    Every single borrower in Irish Nationwide pays back nothing and in turn every single asset they borrowed on is also worth zero.



    Sorry but that just isn't plausible but that's where we are heading with INBS.


    This country is being raped.

  8. #8
    Politics.ie Member greengoose2's Avatar
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    Barristerism thanks to Joan Burton:

    Black is white if you are prepared to pay for it!

    The barrister is defending himself. He is also quite nutty. His boss is plain dumb but some think he is great craic at d'oul singin'.

    Shame on all FF voters if this is the best you can come up with.

  9. #9
    Politics.ie Member PUFF DADDY's Avatar
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    cowen on six 1 now, would you look at the f in camera grrrrrrrrrrrrrrrrr
    Repeal the 8th

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    Quote Originally Posted by Libero View Post
    Clearly not.

    It's not even a bank.

    The fact that INBS has been treated just like a really systemic institution (e.g. AIB, BoI) suggests that for a long time, other factors have been driving decisions, far ahead of an institution's systemic importance.
    Correct,

    I don't believe I am one of the more conspiratorial posters on this site but I want to state my belief that a proper and thorough investigation of INBS would shock this country to the core and make Anglo look like a model of prudent lending.
    Do I believe any such investigation will ever take place?
    No

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