Did someone profit from advance knowledge of the bank guarantee?



Aristodemus

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It wouldn't be the first time that happened. When John Bruton bailed out Allied Irish banks over the Insurance Corporation of Ireland fiasco the shares had plummeted in value. At a subsequent AGM it was pointed out that one of the bank's most senior executives had set up a company to acquire shares in AIB whose value subsequently rose. Far from condemning this as "insider trading" (which was not illegal at that time) the then Chairman of AIB, Laurence Crowley, praised the executive for having "faith" in his own company by buying the shares at a time of great uncertainty.
 

Xipe Totec

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Did anyone profit from the bank guarantees?

Of course - the people of Ireland!
How else could they be saved from systemic risk and set on the road to recovery?
 

Nipper

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Who were FF taking advice from?

And it wasn't Merill Lynch
 

HP

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It would be interesting to see if any large short positions were taken up... and if so by whom? Even if it was an intermediary.

I doubt if there too many rushing in to buy at the new lower price...!
 

Congalltee

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It would be interesting to see if any large short positions were taken up... and if so by whom? Even if it was an intermediary.

I doubt if there too many rushing in to buy at the new lower price...!
I'm sure there are other patriots apart from the Anglo ten. If shares were being sold. It means someone was buying. Who are these people?
 

sport02

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Did anyone profit from the bank guarantees?

Of course - the people of Ireland!
How else could they be saved from systemic risk and set on the road to recovery?
I think you will find the bondholders/bondgamblers gained very nicely from the blanket guarantee, we could of took a leaf from our northern european neighbours in Iceland and put forward a much better deal.
But then again when you have Mary Out Of Touch Hanifin that feels that all the people of Ireland would like to repay our debts, to the thick ineptitudes in FF, we all gained I suppose.
 

gombeennation

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the big winners on this whole cover up were the ones that were shltting themselves the anglo books would be opened up. since anglo senior bondholders were paid off - they had no reason or recourse to go thru the books and see what really happened.

some heavy weights were spared being unmasked as being up to their oxsters in dodgy deals and illegal activities.
the price of this protection? not too high for those in charge - for the rest of the country however it is a different story. we have to pay for this cover up.
 


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