Because if there is, we could all be very thankful for greedy bankers for once.
Declan Ganley has just tweeted the following:
Twitter / Declan Ganley: Why would oh say a controv ...Why would oh say a controversial Bank have a different historic DIBOR from everyone else? Hmmm? Over charging anyone? Tut, tut...wakey wakey
DIBOR is the Dublin Interbank Offered Rate - the interest rate at which banks can borrow and lend funds internally. The key word being historic, as it's since been replaced by the EURIBOR.
but he goes on to say, in another tweet:
Twitter / Declan Ganley: I hve yet 2 hear logical r ...I hve yet 2 hear logical reason why Anglo hasnt been forced to bankruptcy. Pull licence & gur'ntee mightn't apply?=all bond holders toast.
If, say, Anglo were overcharging for interbank lending back when the DIBOR was used could this be grounds for pulling Anglo's banking licence?
If so without a licence the guarantee mightn't apply and the bondholders would get burned and there would be nothing Clowen & Co. could do about. This would save us from having to honour the stupid Guarantees release us from having to pay untold millions to junkbond holders who swooped in like Roman Abramovich's Millhouse Capital etc...