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Thread: Elderfield contradicts Lenihan on senior bondholders

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    Default Elderfield contradicts Lenihan on senior bondholders

    The government has tried to hold the line that senior bondholders must be paid in full. That line may not be sustainable for much longer.

    Financial Regulator Matthew Elderfield has told a Dáil committee that the Government could enter negotiations with senior bondholders to share some of the cost of the bank bailout.

    RT News: Financial Regulator will intervene with banks

    When do the negotiations begin? And how much has been returned to senior bondholders at a wasteful 100% return rate so far?
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

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    Politics.ie Member sic transit's Avatar
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    You might do well to actually watch what he said rather than trust the RTE website to summarise what he said. He did say that but he mentioned it in the context of offering them alternatives options - like an early cash in at a reduced rate. He saw no reason why it wasn't a possibility, but he did not contradict Lenihan. Sean Whelan later suggested that the savings would most likely be of limited value assuming the negotiations even happened.

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    Default

    edit.

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    Politics.ie Member Chrisco's Avatar
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    Quote Originally Posted by sic transit View Post
    You might do well to actually watch what he said rather than trust the RTE website to summarise what he said. He did say that but he mentioned it in the context of offering them alternatives options - like an early cash in at a reduced rate. He saw no reason why it wasn't a possibility, but he did not contradict Lenihan. Sean Whelan later suggested that the savings would most likely be of limited value assuming the negotiations even happened.
    Well, if Sean 'Economic Whizzkid' Whelan said it...

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    Politics.ie Member nicht besonders's Avatar
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    Hasn't Lenihan been saying it would illegal to do this though, giving the impression it is impossible?
    'Politics' is made up of two words, 'poli,' which is Greek for 'many,' and 'tics,' which are blood-sucking insects. - Gore Vidal

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    Politics.ie Member Nipper's Avatar
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    Quote Originally Posted by nicht besonders View Post
    Hasn't Lenihan been saying it would illegal to do this though, giving the impression it is impossible?

    That's just the standard Lie

    Works for everything from paying the likes of fingers a massive pension to the state paying for the sins of the Catholic Church, or not applying levies on Judges pay.

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    Illuminating that it's not earth-shattering anymore when the Financial Regulator, or the markets, or the Governor of the Central Bank, or the FT or the Wall Street Journal, etc. etc. contradict or disagree with our MoF. He's a busted flush...............at a rough guess only about 24%/25% of the electorate are dumb enough to believe anything he says anymore. He's gone from Hero to Zero at about the same pace as Boss Biffo. He's as relevant as elevator muzak - 24 months of getting it consistently wrong has switched off all but the pathetic party faithful.

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    Quote Originally Posted by nicht besonders View Post
    Hasn't Lenihan been saying it would illegal to do this though, giving the impression it is impossible?
    Anything in Ireland that could affect the staus quo is illegal. Irelands rich elite need to be bailed out by ordinary Irish Taxpayers and nothing is going to prevent FF from achieving this.

    If they did not do this, how would the FF donors be expected to afford all the State assets that are due to come on the market.

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    Politics.ie Member cozzy121's Avatar
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    Quote Originally Posted by Nipper View Post
    That's just the standard Lie

    Works for everything from paying the likes of fingers a massive pension to the state paying for the sins of the Catholic Church, or not applying levies on Judges pay.
    Daddy must be soo proud of him. The ff apple doesn't fall far from the tree..
    "WAKE UP! THE RICH ARE RAPING YOU!"

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    The Government seem totally unwilling to enter into any type of negotiations with these bondholders. Makes you wonder why and who are these bond holders. Their unwillingness to entertain the option may be explained if we knew who the bondholders were. Will we ever find out.

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