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Matthew Elderfield - Anglo could cost more then €35 Billion




Sham96

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Sep 30, 2010
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"I don't have a crystal ball" Jesus. The markets will like that. At least he was being honest unlike Comical Len.
 

Mister men

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Drip drip drip...
 

ALAN42

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Aug 23, 2009
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Why not just say 200 bilion all up ? Whats the problem really ? Its like a very big and very long mortgage . You'll have generations to get used to it .
 

Mister men

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"I don't have a crystal ball" Jesus. The markets will like that. At least he was being honest unlike Comical Len.
Lenny said last week we need to "cross our fingers and hope for the best" in a TV interview. It's beyond funny now.
 

HarshBuzz

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Elderfield's credibility is fast disappearing

as is Honohan's (see thread)

so much for Lendahand's claim to have drawn a line under the banks (again)
 

Destiny's Soldier

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This can only mean Derivatives.

Lenihan needs to ban all Derivaties in Ireland .The Germans banned naked short selling and forms of Derivaties.
 

Expatriot

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Dec 7, 2009
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4,325
Elderfield's credibility is fast disappearing

as is Honohan's (see thread)

so much for Lendahand's claim to have drawn a line under the banks (again)
He has plenty of credibilty as far as I am concerned.
That is why I am concerned.

And still the nightmare continues, more drip drip on AIB, no plan for INBS or EBS yet. Two years and still not done, NAMA not done, altered again. In the name of god wrap it up. Set up one functioning blooding bank from this car crash and park as much of the crap off to the side for a few years please. We must own all of the banks now and do this.
 

showbandmanager

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Yeah i'm afraid our three musketeers , elderfield , Honahan and Lenihan are beginning to seem slightly less brilliant than 'the people who know these things' would have had us believe.
 

HarshBuzz

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He has plenty of credibilty as far as I am concerned.
That is why I am concerned.
I agree he has more than Lenihan but that's hardly saying much

the stress test was a botch job of enormous proportions that lasted two months before coming unstuck at huge cost to the taxpayer (estimated 5bn to go into AIB)
 

slx

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Oct 13, 2008
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How much worse can this possibly get?

:confused:

I'm really finding these figures frightening.

It's like: "we're absolutely sure it will only cost this unimaginably huge amount of money" and then two mins later "oh, no actually, it will only cost this even bigger unimaginably huge amount of money"
 

HarshBuzz

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This can only mean Derivatives.

Lenihan needs to ban all Derivaties in Ireland .The Germans banned naked short selling and forms of Derivaties.
or, the value of property, both commercial and residential is still falling

nothing wrong with derivatives if they are used properly
 

HarshBuzz

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How much worse can this possibly get?

:confused:

I'm really finding these figures frightening.

It's like: "we're absolutely sure it will only cost this unimaginably huge amount of money" and then two mins later "oh, no actually, it will only cost this even bigger unimaginably huge amount of money"
100bn+ once you factor in NAMA losses
 

vanla sighs

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This can only mean Derivatives.

Lenihan needs to ban all Derivaties in Ireland .The Germans banned naked short selling and forms of Derivaties.

The Telegraph reported a few days ago: "In what would be a hardening of Ireland's stance, Mr Lenihan is understood to have said the authorities would consider "market suspensions" in future, meaning the government could order the closure of bond and equity trading if it thought the market was threatening the country's financial stability."

Ireland's finance minister Brian Lenihan ridiculed by City investors - Telegraph

But then they also claimed there were chimp noises, The Telegraph is lapping this up, they've always had an anti-Irish undercurrent.

By the way, I'd put more faith in Elderfield than Lenihan any day of the week.
 

slx

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I hope these statues don't end up being a prophecy of the horrors of the future instead of a reminder of the horrors of the past.

 

Expatriot

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I agree he has more than Lenihan but that's hardly saying much

the stress test was a botch job of enormous proportions that lasted two months before coming unstuck at huge cost to the taxpayer (estimated 5bn to go into AIB)
Look all the banks are screwed, that is the bottom line. They are not short of stress tests, regulation or confidence, they are short of money and so are we. They are too big, there are too many of them and they are too independent and deceptive. The only solution to that is to totally take control of them and merge all of them, the good and the bad. Forget stress tests and making up stories for "de markets", nobody is going to invest in these "banks". We need to address this unfront and directly, NAMA, bit of nationalisation, plans to the EC, stress tests, more bottom lines, plans etc etc. Its all nonsense, we are at this rubbish for two years and we honestly still have not a baldy what is going on in the banks. Then do what they like and hand us the bill. End it.
 

Expatriot

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100bn+ once you factor in NAMA losses
And I was laughed out of court here for suggesting such a figure only a few weeks ago. It will be a good bit more really.

At 7% interest eventually if we are not careful we could have a 200 billion euro nationa debt at 7% interest rates in a few years. That is a current spending requirement of 14 billion euro per year every year just to cover the interest. That is higher than the net cost of paying every single PS worker in the country. This is a joke of a policy.

that is why the markets are not lending to us.
 

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