Roll Over Leo bullied into paying back Anglo bondholders


Eventualities

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So... we have threads on imaginary "invasions" and warped, US politics...

Taoiseach rejects ‘roll over Leo’ claim in Anglo bondholder payout row

...but none on our own Government giving bust-bank gamblers their money back after losing it on a scam.

Between this and endorsing the actions of KBC and the UVF, the Blueshirts and their enablers in FF and the fake left have signed their death warrant.

Discuss.
 

Fr. Ted Crilly

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So... we have threads on imaginary "invasions" and warped, US politics...

Taoiseach rejects ‘roll over Leo’ claim in Anglo bondholder payout row

...but none on our own Government giving bust-bank gamblers their money back after losing it on a scam.

Between this and endorsing the actions of KBC and the UVF, the Blueshirts and their enablers in FF have signed their death warrant.

Discuss.
You've done it now...
You've exposed the true reason for Gimp Varadkar's 'balaclava' bu11sh1t yesterday.....

"Not another red cent to junior or unsecured bondholders" eh?
 

SPN

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Taoiseach rejects ‘roll over Leo’ claim in Anglo bondholder payout row

...but none on our own Government giving bust-bank gamblers their money back after losing it on a scam.
The Government isn't giving anyone anything.

The liquidator is divvying up the assets between the creditors in accordance with the preference order set out in Company Law.

If I remember correctly, these Bonds were issued under UK law, so if the Liquidator wanted to usurp the rights of the bond owners he would have to go to Court in the UK and get the Court to agree. Feck all chance of that happening.


Seperately, I wonder if that there €600 million which is coming to the State is the outstanding money that was loaned under the Bank Guarantee.

If so, that takes the profit on the Bank Guarantee to €4.5 Billion.
 

the secretary

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I wonder will he roll over on the backstop?
 

Eventualities

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The Government isn't giving anyone anything.

The liquidator is divvying up the assets between the creditors in accordance with the preference order set out in Company Law.

If I remember correctly, these Bonds were issued under UK law, so if the Liquidator wanted to usurp the rights of the bond owners he would have to go to Court in the UK and get the Court to agree. Feck all chance of that happening.


Seperately, I wonder if that there €600 million which is coming to the State is the outstanding money that was loaned under the Bank Guarantee.

If so, that takes the profit on the Bank Guarantee to €4.5 Billion.
Artless trolling.
 

SPN

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McTell

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No
//

Between this and endorsing the actions of KBC and the UVF, the Blueshirts and their enablers in FF and the fake left have signed their death warrant.

Discuss.

Sounds like you didn't buy many of them bonds when they were 11c in the €1? Then there's not much to discuss.
 

Eventualities

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I'm intrigued, go on and explain how this has cost the state 440bn?
The bank crash wasn't the fault of the ordinary people, who comprise the state.

The bailout, totaling 440bn from 16 countries, was forced on us. All that was needed was for bondholders to take their losses, and for government to increase taxes on wealth, corporations and high-income earners.

We got no referendum or say in having this loan on makey-uppy gambling losses forced on us.
 

SPN

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What would you know about those?
Lots.

I keep posting facts.

It doesn't suit some people who prefer to believe populist fairy tales.

That's their problem.



The bailout cost the State 440bn.
It did in it's shíte.

The Bailout (the recapitalisation of the nationalised banks) will cost a net €30 to €35 Billion whenever we sell the shares we own back into the market.

All of this cost refers to the capital put into Anglo Irish and Irish Nationwide Building Society, aka IBRC.

On the flip side, the banks had been contributing up to €20 Billion a year in taxes up to 2008, whenever their Ponzi Scheme was going full tilt.

Also on the flip side, the State received €4.5 Billion in premium income whenever they sold that insurance policy known as The Guarantee to the banks who needed cover. That can come off the net cost above too.
 

hiding behind a poster

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So... we have threads on imaginary "invasions" and warped, US politics...

Taoiseach rejects ‘roll over Leo’ claim in Anglo bondholder payout row

...but none on our own Government giving bust-bank gamblers their money back after losing it on a scam.

Between this and endorsing the actions of KBC and the UVF, the Blueshirts and their enablers in FF and the fake left have signed their death warrant.

Discuss.
Idiotic OP.

From your own link:

Mr Varadkar said that Fine Gael did not put further money into the former Anglo Irish Bank but liquidated it.

He said that the Department of Finance had received legal advice that any attempt to change the terms of the liquidation would be challenged.
Furthermore, the State benefits to the tune of €600 million, which it wouldn't get if these junior bonds were burned - meaning the State gets more money from paying these bondholders than it would get if it was even possible to "burn" them. This is also mentioned in your very own link.

So perhaps a better subject to discuss would be - why such an idiotic, illiterate OP?
 

hiding behind a poster

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You've done it now...
You've exposed the true reason for Gimp Varadkar's 'balaclava' bu11sh1t yesterday.....

"Not another red cent to junior or unsecured bondholders" eh?
Why do you keep changing Varadkar's quote, and indeed leaving bits of it out?
 

hiding behind a poster

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The bank crash wasn't the fault of the ordinary people, who comprise the state.

The bailout, totaling 440bn from 16 countries, was forced on us. All that was needed was for bondholders to take their losses, and for government to increase taxes on wealth, corporations and high-income earners.

We got no referendum or say in having this loan on makey-uppy gambling losses forced on us.
"Baldrick, have you been at the diesel oil again?"

That really is one of the funniest posts I've ever seen on p.ie.
 

Eventualities

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Idiotic OP.

From your own link:



Furthermore, the State benefits to the tune of €600 million, which it wouldn't get if these junior bonds were burned - meaning the State gets more money from paying these bondholders than it would get if it was even possible to "burn" them. This is also mentioned in your very own link.

So perhaps a better subject to discuss would be - why such an idiotic, illiterate OP?
The proven social illiterate has the gall to talk up. Back in yr box, you've boots to lick.
 

Eventualities

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"Baldrick, have you been at the diesel oil again?"

That really is one of the funniest posts I've ever seen on p.ie.
It's been a long time coming, but your excessive Blueshirt fellatio has placed you on my ignore list. Goodbye, HBAP, the pleasure has been all yours.
 

SPN

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The bank crash wasn't the fault of the ordinary people, who comprise the state.
Correct.

But the ordinary people, who comprise the state, did get up to €20 Billion a year worth of benefits from the taxes generated by the bank ponzi scheme.

Whenever the ponzi scheme ran out of road, and the lending stopped, the ordinary people, who comprise the state, lost this here €20 Billion a year of taxes.


Seperately, whenever the banks stopped lending, there was no price support for the asset classes that the banks had become overweight in during the ponzi scheme. The owners and providers of certain classes of risk capital lost more than €40 billion in investments in the banks as their money was used to cover the losses as asset prices were repeatedly written down.

Whenever the banks needed new capital to replace the capital used to cover the losses, and the banks couldn't obtain it (or enough of it, on the markets, the ordinary people, who comprise the state, put in new capital so that the rest of the economy, which needed a functioning banking system, could keep on going.



The bailout, totaling 440bn from 16 countries, was forced on us.
This is nonsense.

Utter gibberish.




All that was needed was for bondholders to take their losses
The shareholders, and those bondholders who were holding certain types of bonds, lost €40 Billion.

They took their losses.

The new money from the ordinary people, who comprise the state, went in to recapitalise the banks AFTER the losses had been taken.



[quoteand for government to increase taxes on wealth, corporations and high-income earners.[/quote]

Or, God forbid, cut back the 50% increases in spending that had been taking place during the ponzi scheme using the windfall taxes.



We got no referendum or say in having this loan on makey-uppy gambling losses forced on us.
We had a referendum on May 17th 2002. 880,000 people voted to keep the Ponzi Scheme going.
 
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