Anglo still dishing out dodgy loans after nationalisation

Fides

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Anglo seeks Healy loans of €17m - The Irish Times - Tue, Nov 16, 2010

Was reading this article about Anglo trying to recover money from Healy. About half way down we get this:


The case arises from two loan facilities – the first, for a maximum £5.75 million, was made available by Anglo in October 2008 to Mr Healy, while the second, for €10.8 million, was made available in May 2009.

The second facility we are told was to fund personal investments secured by property and shareholdings.

Looks like even after nationalisation there were some very poor loan decisions being made. You'd wonder who was approving them at this stage and are they still making loan decisions.
 


Mitsui2

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Looks like even after nationalisation there were some very poor loan decisions being made. You'd wonder who was approving them at this stage and are they still making loan decisions.
Ultimately they were approved by a fellow called Lenihan. At the moment he's in talks about arranging a loan from the EU for some decidedly dodgy characters.
 

TonyBird

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Easy solution , burn the banks . No banks, no bull , then we focus on sorting our sh1t out , in a civilized manner .
Dosnt even cost you the train fare to Dublin for some fake protest .
 
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eoghanacht

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Easy solution , burn down all the banks . No banks, no bull , then we focus on sorting our sh1t out , in a civilized manner .
Dosnt even cost you the train fare to Dublin for some fake protest .
Yep, basically.

Concerned citizens should gather on the 28th of Nov at the wellington monument at 3pm to discuss a way forward, no march, no protest just ordinary citizens concerned at the state of our nation.
 

Nonsence & lies

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Over 20,000 bank employees in this country earning way above the average wage doing what exactly? they rarely give loans.
The mornings must be filled with social networking, and perhaps send off a few threatening letters in the evening post.
 

eoghanacht

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Over 20,000 bank employees in this country earning way above the average wage doing what exactly? they rarely give loans.
The mornings must be filled with social networking, and perhaps send off a few threatening letters in the evening post.
They are administering our payments to the bondholders.

Anyway

It's gone beyond that.

We can sack all the bank employees, the PS workers and we are still up the creek.

The big boys are getting nasty, i say we play them at their own game.
 

Social Conscience

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I missed this story in yesterday's Irish Times. I am wondering when will the straw finally break the camel's back for this Irish people over such 'dealings'.

I'm sure Anglo's chairman Alan Dukes could of course not comment on any one case but is he not 'our' man on the inside. Oh foolish me he is Clown/Lendand's inside man and not Joe Public's.

How many more of these loans were given out after the September '08 bailout I wonder??
 

EmigratedTBTF

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Only when dutch gold is a tenner and the dole is the equivalent of 65 pounds sterling and the government stops subsidizing civil servant landlords 500 million ayear paying their interest only loans please let the imf in we are not iceland greece latvia we are worse we are ireland (formerly the democratic republic of ireland)
 

hammer

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We`ve had NAMA 1 - parked
NAMA 2 - SME`s - Personal guarantees not worth the paper they are written on. Equity / assets destroyed.
NAMA 3 - Personal debt / mortgages

Game over :(
 

PollPot

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Over 20,000 bank employees in this country earning way above the average wage doing what exactly? they rarely give loans.
The mornings must be filled with social networking, and perhaps send off a few threatening letters in the evening post.
I was one of those employees and it might surprise you to know the vast majority earn the avg wage or slightly above, it's senior manager and above that get massive salaries and distort avg salary figures
 

Fides

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Why is this surprising. They were rewarded for their previous behaviour so why would they change it?
In theory the old regime was gone and there was new oversight and government appointed directors. This loan was not for the business but for investments and the security was property and shareholdings. This is mid 2009 - who in their right mind accepts property and shareholdings as security?
 


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