€2.7 billion for Irish Nationwide Building Society



hammer

Well-known member
Joined
Jul 6, 2009
Messages
58,180
€5,500 million all told -peanuts :(

As long as Fingers pays the €1 million bonus to charity and continues to enjoy his €27 million nest egg all is well with backward corrupt Little Ireland :)
 

Libero

Well-known member
Joined
May 22, 2004
Messages
2,994
seabhcan said:
Is INBS of systemic importance?
Clearly not.

It's not even a bank.

The fact that INBS has been treated just like a really systemic institution (e.g. AIB, BoI) suggests that for a long time, other factors have been driving decisions, far ahead of an institution's systemic importance.
 

stanley

Well-known member
Joined
Jun 20, 2007
Messages
9,838
Get Fingers in now and throw away the rule book, break him, he is the worst of the worst when it comes to the bankers/lenders, time to take the gloves off, reserve his bucket in the Joy.
 

Anorakphobia

Well-known member
Joined
Apr 13, 2007
Messages
911
When the cost of a bail out starts to approach the actual value of every cent that bank actually leant out, it really is time to start fearing that we are looking at corruption on a biblical scale.

Think about it.
Every single borrower in Irish Nationwide pays back nothing and in turn every single asset they borrowed on is also worth zero.



Sorry but that just isn't plausible but that's where we are heading with INBS.


This country is being raped.
 

greengoose2

Well-known member
Joined
May 30, 2009
Messages
24,897
Barristerism thanks to Joan Burton:

Black is white if you are prepared to pay for it!

The barrister is defending himself. He is also quite nutty. His boss is plain dumb but some think he is great craic at d'oul singin'.

Shame on all FF voters if this is the best you can come up with.
 

PUFF DADDY

Well-known member
Joined
Jul 3, 2009
Messages
3,002
cowen on six 1 now, would you look at the f in camera grrrrrrrrrrrrrrrrr
 

Anorakphobia

Well-known member
Joined
Apr 13, 2007
Messages
911
Clearly not.

It's not even a bank.

The fact that INBS has been treated just like a really systemic institution (e.g. AIB, BoI) suggests that for a long time, other factors have been driving decisions, far ahead of an institution's systemic importance.
Correct,

I don't believe I am one of the more conspiratorial posters on this site but I want to state my belief that a proper and thorough investigation of INBS would shock this country to the core and make Anglo look like a model of prudent lending.
Do I believe any such investigation will ever take place?
No
 

jimbo99

Well-known member
Joined
Jul 2, 2009
Messages
574
This throw away line is in most Anglo media reports today.

€2.7 billion for Irish Nationwide Building Society

2 700 000 000 euro

Why?

Is INBS of systemic importance?
It is an essential part of the corrupt system that ruled this country for the last 20 years. So it obviously must be saved.
 

conservative green

Well-known member
Joined
Oct 1, 2008
Messages
1,261
When the cost of a bail out starts to approach the actual value of every cent that bank actually leant out, it really is time to start fearing that we are looking at corruption on a biblical scale.

Think about it.
Every single borrower in Irish Nationwide pays back nothing and in turn every single asset they borrowed on is also worth zero.



Sorry but that just isn't plausible but that's where we are heading with INBS.


This country is being raped.
The current, post-Fingleton, management commissioned a report to investigate whether there were any matters required to be reported to the authorities concerning the management of the society under the previous regime - and seemingly found nothing.

I reckon it was just bad loans at the peak of the market with inadequate documentation and inadequate recourse and title. Plus, Fingleton's obsession with cost-cutting meant the entire operation was understaffed. Like Fitz and others, Fingleton genuinely believed his own propaganda that property always goes up in Ireland. If they did a lot of development loans - which they undoubtedly did - then 60%/70% haircuts are unsurprising.

But, given its Fingers, taking a conspiratorial view is fully understandable and I don't blame you for it.
 

adamirer

Well-known member
Joined
May 16, 2007
Messages
454
thats what I've been wondering. Whatever about the justification for anglo, and i don't accept it, theres no excuse for bailing out NIB.
 

controller

Well-known member
Joined
Feb 25, 2009
Messages
3,149
How can we give a company €10.7 Billion, and still the ex. boss keeps a pension of €27m. What am I missing??
 

Mossy Heneberry

Well-known member
Joined
Jun 10, 2009
Messages
3,818
How can we give a company €10.7 Billion, and still the ex. boss keeps a pension of €27m. What am I missing??
AFAIK, it was written into his contract. We have to abide by the rule of law.

I know, it's ridiculous but contract law has to be respected.
 

controller

Well-known member
Joined
Feb 25, 2009
Messages
3,149
AFAIK, it was written into his contract. We have to abide by the rule of law.

I know, it's ridiculous but contract law has to be respected.
But if the company is bust........then there is no money to pay the pension....again, what is it that I do not understand??
 

controller

Well-known member
Joined
Feb 25, 2009
Messages
3,149
Pension pots around the world have lost their value....how did his pension keep its value??
 

RyeSixSeven

Well-known member
Joined
Oct 27, 2006
Messages
407
Why oh why didn't INBS and Fingleton get sold off to the Icelandics when they were herding around in 2007. Iceland's banks might have gotten themselves into one fine mess, but they came quite close to being part of our one. Perhaps their due dilligence told them that INBS was even more of a risk than they were themselves.
 

anfieldabff

Well-known member
Joined
Sep 9, 2010
Messages
724
Do they really beleive that we are swallowing their lies?

It is plain to see that there must be senior politicians with something to hide as regards INBS. Previous contributers are right on the money, it is not plauseable that every single loan is not conforming, some people have come away from this with lots of dosh and their debts effectively written off. Why has fingers been allowed to walk off into the sunset with hardly a thought, he has not even been interviewed. When you look at the reaction when someone parks a truck at the gates of the Dail, it is completely over the top. But the bankers, that is another story.
We are probably as close to social unrest in this country as we have been since the civil war.
Just go, for Gods sake go.
 

RainyDay

Well-known member
Joined
Aug 14, 2003
Messages
2,548
Why oh why didn't INBS and Fingleton get sold off to the Icelandics when they were herding around in 2007.
Because the members of Irish Nationwide were too greedy. They had the chance to oust Fingleton in 2004 with a no-confidence motion, but they voted confidence in their great leader. Pure greed.
 


New Threads

Popular Threads

Most Replies

Top