Anglo - my story



Mitsui2

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Joined
Nov 13, 2009
Messages
32,378
Bye Bye Baby, Baby goodbye :)
Here we have a cheap manufactured enterprise designed to appeal to the lowest common denominator in people, hyped to death by compliant media (much of it on the take), who conned people long enough for its management to syphon off vast amounts of doish and walk away....

and you try to link it to the Bay City Rollers?

Shame on you!
 

PaddyJoe McGillycuddy

Active member
Joined
Apr 30, 2009
Messages
206
Business review - Anglo Irish Bank - Interim Report 2009

Page 8

Lending Asset Quality - heading at March 31, 2009 and we know things have got worse :)

Past due but not impaired €12,906m
Impaired €10,706m

Total €23,612m

And things have got worse.

You're taste for light fiction is reprehensible! Please post something with a bit of gravitas and long term value. Any link to old Viz stories for instance.
:)

Discuss systemic importance based on these two figures :)
 

MsAnneThrope

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Apr 8, 2009
Messages
1,807
Anglo has strongly refuted suggestions of any impropriety.
Wonderful.

Anglo now has one of the largest annual legal bills of any bank as it defends suits in Ireland and the US.
Also wonderful.
 

CookieMonster

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Joined
Feb 19, 2005
Messages
33,861
Something fishy in Anglo?

Never!
 

CookieMonster

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Feb 19, 2005
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33,861
There are quite a few of these property funds that have crashed spectacularly. You have to assume there are a lot of high net worth individuals nursing some serious losses. You get a glimpse of these now and then in the court cases going on but I suspect the shake up has hardly begun.
I'm not sure many real HNWIs would have invested in this sort of rubbish.
 

hammer

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Jul 6, 2009
Messages
58,180
"A large number of the properties in the fund are co-owned with joint venture partners, many of whom are well-known Anglo developer clients."

Well that is a surprise :)
 

Oldira1

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Oct 2, 2008
Messages
1,466
Why are Anglo spending millions in defending these actions? Even if the plaintiffs win the company is insolvent so won't have to pay anything. Its not as if the government guaranteed 'contingent liabilites' is it?
 

PlanetBertie

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Feb 7, 2011
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Here we have a cheap manufactured enterprise designed to appeal to the lowest common denominator in people, hyped to death by compliant media (much of it on the take), who conned people long enough for its management to syphon off vast amounts of doish and walk away....

and you try to link it to the Bay City Rollers?

Shame on you!

Bay City Rollers totally relevent, they were exploited, ripped off, robbed and ended up with nothing, same as Irish tax-payers. Bye bye baby, baby bye bye.
 

hammer

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Jul 6, 2009
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58,180
Why are Anglo spending millions in defending these actions? Even if the plaintiffs win the company is insolvent so won't have to pay anything. Its not as if the government guaranteed 'contingent liabilites' is it?
As long as Anglo is in existence the State would be liable if Anglo lost a legal case.

HO HO HO.

This could happen quite a bit across the banking sector.
 

Oldira1

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Oct 2, 2008
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1,466
As long as Anglo is in existence the State would be liable if Anglo lost a legal case.

HO HO HO.

This could happen quite a bit across the banking sector.
Not true. Anglo is still a limited company and as such the shareholders are not liable if it goes bust or if it cannot pay any damages award as a result of a court case. The guarantee is a different matter but losses on account of the bank's negligence etc cannot be hoisted on the state.

I think anyone considering suing should start at the auditors....unlimited liability.
 

hammer

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Joined
Jul 6, 2009
Messages
58,180
Not true. Anglo is still a limited company and as such the shareholders are not liable if it goes bust or if it cannot pay any damages award as a result of a court case. The guarantee is a different matter but losses on account of the bank's negligence etc cannot be hoisted on the state.

I think anyone considering suing should start at the auditors....unlimited liability.
Liable to pay up until they go into liquidation.

Sheriff gets called in and can remove assets to the value of the award.

If the Banks lose a case the State is LIABLE.
 


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