Spot on. This is nationalisation in reality.digoutday said:They have guarenteed all deposits and more importantly, all loans. Every Irish bank has now been effectively nationalised.
I dont think it will make anybody buy into the banks anyway, I would expect the selling to continue....The Red Rose of Cork said:Will it make any difference or will it just encourage speculators that irish banks shares are worthless ?
Do you think that Goggin & Sheehy went to Cowen/Lenihan and said they were in trouble ?youngdan said:I will translate. It is now time to panic
digoutday said:Us, the taxpayers are now holding the can for reckless business practices, surely there should be a vote in the dail to authorize this?
they have guarenteed all interbank loans, this surely if massive....mairteenpak said:I think it will be the depositors that will be bailed out, but yes the tax payer will get stiffed for all those "Profits" made in construction, property, and development.