Quotes of the collapse

civilserpant

Well-known member
Joined
Oct 21, 2010
Messages
674
Some say it's 'the wave', other '€8 a bond', for me, its this:

“Our proposal to establish an Asset Management Agency has received the backing of the IMF and the ECB. It is also clear that the proposal has credibility in the financial markets. Since its announcement, the cost of borrowing by the State has fallen by 1.5% for 10 year money; tangible evidence that the Government’s strategy is already working.

Brian Lenihan, Sept 16th, 2009

and on the same day

“The flow of credit is essential to the proper functioning of the economy and all of the Government’s actions to stabilise the banks have been undertaken in order to ensure that the financial system continues to fulfil its essential functions in providing credit for businesses and individuals. The establishment of NAMA and the removal of identified risky assets from the balance sheets of participating institutions should in itself improve credit supply.”

Brian Lenihan, Sept 16th, 2009


“A soft landing is not so much unlikely as contradictory. Suppose that house prices really were expected to level off, then the owners of the tens of thousands of empty houses and apartments can expect no further capital gains and should cash in their investments. Why pay a mortgage on an empty apartment that has stopped rising in value? As speculators rush for the exit, prices will crash.

It is not implausible that prices could fall - relative to income - by 40-50 per cent.”

Morgan Kelly, Irish Times, Dec 28th, 2006
 


civilserpant

Well-known member
Joined
Oct 21, 2010
Messages
674
Since its announcement, the cost of borrowing by the State has fallen by 1.5% for 10 year money; tangible evidence that the Government’s strategy is already working.”

Brian Lenihan, Sept 16th, 2009
I wonder would Brian agree that since the revense is now very, very true, that the Government's strategy is failing.
 

Gadfly

Well-known member
Joined
Nov 14, 2007
Messages
354
I wonder would Brian agree that since the revense is now very, very true, that the Government's strategy is failing.
Not at all, the government strategy is a thundering success, while these little reverses are due to the negativism of assorted begrudgers.

How does it go - operation successful, but the patient died.
 

EvotingMachine0197

Well-known member
Joined
Feb 17, 2006
Messages
8,552

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
'the most vulnerable'

'taking the hard choices'

'our strategy is working, we have turned the corner'
 

constitutionus

Well-known member
Joined
Feb 19, 2007
Messages
23,265
the first two to leap to mind was

1 . "ebbs and flows ! "

and

2. "i dont accept that"

2 seems to be the answer to anything dealing with reality these days.

:)
 

Sierra

Well-known member
Joined
Sep 26, 2007
Messages
3,483
Like many of the above two things stick out in my mind . . .

I wonder would Brian agree that since the revense is now very, very true, that the Government's strategy is failing.
Well I don't accept that. We have turned the corner.


;)
 

Mondo

Well-known member
Joined
Oct 1, 2010
Messages
1,054
A lot done. More to do.

Reminds me of old election poster slogan of Bertie's.

"A LOT DONE. MORE TO DO."

It's clear now that they were referring to DAMAGE.
 

Libero

Well-known member
Joined
May 22, 2004
Messages
2,994
Hard to beat this one, still up in all its glory [amd with my emphasis] on the DoF website

The bank [Anglo] is large in Irish terms and its assets include around €70 billion in loans and advances to customers. These are not ‘bad debts’ as some people try to suggest. As with any bank, there is a mixture of mostly good loans and some that are distressed. Many have asked what the implications will be for the State if there are very significant losses on loans in Anglo Irish Bank – and it is clear that there will be losses on some of the loans. It is important therefore that I clarify to the House that in the first instance there are significant monies within Anglo-Irish to take the strain of loan losses arising over the next three or four years, before State support is engaged. There is around €7 billion of shareholder funds and other capital available to offset any losses on the loan book, in addition to ongoing pre-loan-loss profits which have been very significant in Anglo’s case. Anglo Irish Bank’s position is secured by the nationalisation and the Government can work with the new Chairman and Board to extract the optimal value from Anglo’s loan book and to minimise the taxpayer’s exposure.

The Government has estimated that, for the Irish banking system as a whole, and allowing for a large degree of stress, it would be appropriate to allow for capital injections into the main banks of the order of €10 billion in total. Within this €10 billion, I would have allowed for a capital injection into Anglo, to offset potential loan losses, maintain its capital base on a sound footing and leave a prudent margin for error in current circumstances.
 

danger here

Well-known member
Joined
Mar 9, 2010
Messages
2,549
"Ebbshhh and Flowshhh,Ebbshhh and Flowshhh"

B.Cowen,The Blazers Bar,Ardilaun Hotel Galway September 2010
 

Partizan

Well-known member
Joined
Jan 5, 2005
Messages
7,777
Never mind all that "turning the corner" and "we are where we are" guff from Clowen and Lenny. If there ever was a quote to sum up this whole sorry episode, the award goes to Da Bert for this gem.

Take it away Bert.

[ame="http://www.youtube.com/watch?v=hfjGSfuSQpA"]YouTube - I don't know how people who engage in that don't commit suicide - Bertie Ahern[/ame]
 

Casillas

Well-known member
Joined
Aug 11, 2010
Messages
991
The 'smart economy' drives me nuts. We don't even had a fully functioning broadband infrastructure.
 

Furze

Well-known member
Joined
Jun 14, 2007
Messages
777
We are where we are
 

anfieldabff

Well-known member
Joined
Sep 9, 2010
Messages
724
The cheapest banking bailout in Europe

Lendahand:
"The cheapest banking bailout in europe" or was it the world?
 


New Threads

Popular Threads

Most Replies

Top