AIB and BOI to be split into good and bad banks.

Holy Cow

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Are they making this up as they go along?

Newstalk have just reported that Elderfield will announce this later today.
 


breakingnews

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So this is the major announcement Noonan was predicting, that Cowen said he didn't know about.
 

evercloserunion

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They tried it with NAMA, they tried it with Anglo all to ease the concerns of the bond markets who still shat the bed with the result that we had to call in the IMF. I have no idea what they are trying to achieve with this move.
 

Dreaded_Estate

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They tried it with NAMA, they tried it with Anglo all to ease the concerns of the bond markets who still shat the bed with the result that we had to call in the IMF. I have no idea what they are trying to achieve with this move.
They are doing what they are told
 

CiaranT

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Feb 28, 2010
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So both AIB and BOI are about to be nationalised? A few hours of public ownership left?
 

toratoratora

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Probably an attempt to separate off and flog the good bits of each bank (if there are any), leaving the toxic stuff with the Irish state.
 

evercloserunion

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They are doing what they are told
Is that now the standard one-size-fits-all answer on P.ie? Hooray, we've found a way to have even less constructive discussion on this site?

Why are they being told.
 

Holy Cow

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CiaranT

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is that why BOI shares have fallen by almost 22%?
Yes, Lenny has as good as said that BOI will be nationalised.

Dukes, this morning, said there would be "a few nationalisations".

There are a few hours/days of public ownership left for the banks.
 

robut

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I asked at Twitter:

" Does anybody actually believe and trust the gov / ministers now "Oh yeah your deposits will be fine". How nervous should we be?"

On newstalk Damien Kiberd said tracker mortgages may be bundled and sold off to foreign banks - I assume with resultant higher interest rates for owners.

I mention "nervous" with respect to the loss of trust we now have in the politicians and gov here.

Things are happening so fast now who can we believe?

And now for the answer to the above "Stop wetting your pants", "Dont be hysterical" ... but anyway, just asking!

Robut
 

dalywise

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Feb 23, 2008
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I asked at Twitter:


Things are happening so fast now who can we believe?

And now for the answer to the above "Stop wetting your pants", "Dont be hysterical" ... but anyway, just asking!

Robut
Things are happening fast alright but only in comparison with the snail's pace that things move here. Other countries move rapidly on important issues. In Ireland we spend 6 months listening to moaners and whingers and "social partners" before taking a watered down decision on anything.
 

MattM

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Oct 6, 2008
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Euro crashing now.

Total political mess now.

We need an Election before Christmas now IMO.

As soon as possible, perhaps December 15th
 

grafter1

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I asked at Twitter:

" Does anybody actually believe and trust the gov / ministers now "Oh yeah your deposits will be fine". How nervous should we be?"

On newstalk Damien Kiberd said tracker mortgages may be bundled and sold off to foreign banks - I assume with resultant higher interest rates for owners.

I mention "nervous" with respect to the loss of trust we now have in the politicians and gov here.

Things are happening so fast now who can we believe?

And now for the answer to the above "Stop wetting your pants", "Dont be hysterical" ... but anyway, just asking!

Robut
Just for the record Irish banks have been borrowing at 1.5% from the ECB. Therefore all trackers are either breaking even or in profit for the banks to date.

If the borrower has made all his/her payments the trackers are safe.

And finally nobody would buy a buy of Irish Residential Tracker mortgages - especially now that Dick Fuld and Lehman are no longer on the scene
 

needle_too

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Jaysus was there ever a more convoluted way to say 'Dont pay your mortgage'?
 


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