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Is there trouble ahead for a troubled Irish bank?


CookieMonster

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Because if there is, we could all be very thankful for greedy bankers for once.

Declan Ganley has just tweeted the following:

Why would oh say a controversial Bank have a different historic DIBOR from everyone else? Hmmm? Over charging anyone? Tut, tut...wakey wakey
Twitter / Declan Ganley: Why would oh say a controv ...

DIBOR is the Dublin Interbank Offered Rate - the interest rate at which banks can borrow and lend funds internally. The key word being historic, as it's since been replaced by the EURIBOR.

but he goes on to say, in another tweet:

I hve yet 2 hear logical reason why Anglo hasnt been forced to bankruptcy. Pull licence & gur'ntee mightn't apply?=all bond holders toast.
Twitter / Declan Ganley: I hve yet 2 hear logical r ...

If, say, Anglo were overcharging for interbank lending back when the DIBOR was used could this be grounds for pulling Anglo's banking licence?

If so without a licence the guarantee mightn't apply and the bondholders would get burned and there would be nothing Clowen & Co. could do about. This would save us from having to honour the stupid Guarantees release us from having to pay untold millions to junkbond holders who swooped in like Roman Abramovich's Millhouse Capital etc...
 
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CookieMonster

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Also suggesting it might be interesting to see Anglo's loan books.

To see the ol' loan books...& or beneficiaries one might imagine much interesting reading.... Time to get off the cabbage lorry. 'K'...
 

waterford

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Will the pillars crumble?

Umm, fraud squad are paid by the pipers. (sorry 'beer guzzeling pot bellies singers')
 

LeDroit

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Super8

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I really want to see the list of depositors. Who's deposits are we saving? I know one person with an Anglo account who accidently mentioned it one drunken night. She's the daughter of a prominent professional.

Anglo is the Credit Union of the privileged and the rest of us are bailing it out.

In Tirana, Albania in 1998, they practically revolted over the collapse of their national savings scam.

We talk to Joe.
 

j26

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Feb 20, 2009
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They did 'swoop' in. Then they swooped out again.
And now they swoop about asking sweeping questions, while all the time the clock ticks down on the chances of recovering any of the money.
 

He3

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Swoops? The FS does not do swoops. Swoops are for eagles and football managers,
 

slx

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This is a very cryptic thread, what's going on at Anglo ?

Is there a possibility of some kind of legal action?

I mean, if they can't go after them for those huge fake deposits they borrowed from PTSB and put into their deposit account figures, I doubt they'll go after them for anything else.

Ireland = corrupt / inept. It's pretty much as simple as that. Don't expect any legal action, it's not going to happen.

But, god help you if you owe the VAT man 2 cent or forgot to pay your TV license!
 

CookieMonster

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Will the pillars crumble?

Umm, fraud squad are paid by the pipers. (sorry 'beer guzzeling pot bellies singers')
Well the problem with the Fraud Squad, such as it is, is that they can't really know what they are looking for. I mean you can point at Anglo and say it's rotten, and we all know it is, we can point at it and say why it is too. What we can't do is point at it and say what actions, part of the cause of the rot, were illegal. Making bad loans isn't illegal, it's down right stupid... but not illegal.

Overcharging during the 1990s... now that might be illegal.
 

j26

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Messages
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I really want to see the list of depositors. Who's deposits are we saving? I know one person with an Anglo account who accidently mentioned it one drunken night. She's the daughter of a prominent professional.

Anglo is the Credit Union of the privileged and the rest of us are bailing it out.

In Tirana, Albania in 1998, they practically revolted over the collapse of their national savings scam.

We talk to Joe.
They didn't practically revolt, they did.
 

ManOfReason

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Let it be so. It is about time we pulled the scab from the wound.
 

CookieMonster

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I really want to see the list of depositors. Who's deposits are we saving? I know one person with an Anglo account who accidently mentioned it one drunken night. She's the daughter of a prominent professional.

Anglo is the Credit Union of the privileged and the rest of us are bailing it out.

In Tirana, Albania in 1998, they practically revolted over the collapse of their national savings scam.

We talk to Joe.
Anglo wasn't a bank for ordinary punter's savings, that much is for sure. But... ordinary depositors in Anglo, even if they are professionals, don't deserve to get hosed. They were, after rall, just saving money. Also, we're not bailing those guys out for bad investments... you or I could have deposited money in Anglo.

But, could you or I have taken millions in loans from them? I doubt it! It's the people to whom the loans were made and for what they were made that would be interesting to see. Because these are the guys who went wild with money that we're now paying for.

So why can't we see Anglo's loan books? We do, after all, own the wretched thing now. And any notion of it's loan books being commercially sensitive is a joke at this stage anyway.

C'mon Anglo, get yer books out for the lads!
 
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Expatriot

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Pulling the banking licenses is the way out here, it is at worst a good smoke screen for a U turn.
 

CookieMonster

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Pulling the banking licenses is the way out here, it is at worst a good smoke screen for a U turn.
The implications for the citizens may be clear and beneficial, if what he's saying is correct. However, the implications for the boys in Stephen's Green and in Leinster House may not be so clear and not so beneficial either.

I mean, why haven't they done it already...
 

richie268

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The implications for the citizens may be clear and beneficial, if what he's saying is correct. However, the implications for the boys in Stephen's Green and in Leinster House may not be so clear and not so beneficial either.

I mean, why haven't they done it already...
Pull the rug and they all fall down, a bit like ring a ring a rosy and it did not have to be like this
 

4horsemen

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Anglo wasn't a bank for ordinary punter's savings, that much is for sure. But... ordinary depositors in Anglo, even if they are professionals, don't deserve to get hosed. They were, after rall, just saving money. Also, we're not bailing those guys out for bad investments... you or I could have deposited money in Anglo.

But, could you or I have taken millions in loans from them? I doubt it! It's the people to whom the loans were made and for what they were made that would be interesting to see. Because these are the guys who went wild with money that we're now paying for.

So why can't we see Anglo's loan books? We do, after all, own the wretched thing now. And any notion of it's loan books being commercially sensitive is a joke at this stage anyway.

C'mon Anglo, get yer books out for the lads!
I strongly agree with you and why has no public spirited employee of Anglo leaked the names of the senior bond holders?
An anonymous post would be welcome.
 

Sync

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The implications for the citizens may be clear and beneficial, if what he's saying is correct. However, the implications for the boys in Stephen's Green and in Leinster House may not be so clear and not so beneficial either.

I mean, why haven't they done it already...
He's not "saying" anything. He's just tweeting ambiguous little hints so he doesn't have to actually back anything up. Adults say things. They write articles. They go on the radio to discuss issues. This unelectable fella is just tweeting for the sake of it to try and keep his profile up. He's less relevant than Dana.
 

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