Traders predict Allied Irish Bank will soon be fully nationalised

eoghanacht

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I'm sitting here mouth agape.

Our MoF stated less than a week ago

That "
"Let’s be clear about this. AIB is not going to be nationalised in the way that Anglo Irish Bank was."

Lenihan: AIB will not be nationalised | Irish Examiner

Yet today we can read "ALLIED Irish Banks will soon be fully nationalised"

Total nationalisation of AIB looms as bond yields hit 8.7pc - Irish, Business - Independent.ie

I think it's clear that the minister is not ontop of his brief and this Government has no crdibility left.

How many times will their words be thrown back into their faces. They have been wrong in practically any and all action they have taken in reponse to our current crisis.
 


Sync

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/MOD/ I've edited the title of this thread to ensure accuracy. If you've a concern about this, please feel free to PM myself or DC. /MOD/
 

eoghanacht

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No problem Sync. Not as eye catching though.

I know who i'd be listening to regarding the future of AIB and it's not the man who's been wrong about everything else.

Why can't they just do the necessary with the banks instead of this hodge-podge bandaid approach and hope that it will all be ok.

Everything they do is reactive nothing proactive, we are being lead by a bunch of incompetences caught in the headlights.

We would be mad to allow them to continue
 

Sync

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No problem Sync. Not as eye catching though.
Can change it to "Total nationalisation of AIB looms" if you like which is more catchy.

I know who i'd be listening to regarding the future of AIB and it's not the man who's been wrong about everything else.
Too bloody right.

Why can't they just do the necessary with the banks instead of this hodge-podge bandaid approach and hope that it will all be ok.

Everything they do is reactive nothing proactive, we are being lead by a bunch of incompetences caught in the headlights.
It's a mixture of incompetence, fear, and a genuine wish not to make people unemployed. They're the surgeon who's prepared to let the patient die because they don't want to have the conversation with the patient and they're too squeemish to amuptate a leg.
 

Partizan

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I'm with AIB, what will it mean for me if they do get nationalised?
 

eoghanacht

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Can change it to "Total nationalisation of AIB looms" if you like which is more catchy.



Too bloody right.



It's a mixture of incompetence, fear, and a genuine wish not to make people unemployed. They're the surgeon who's prepared to let the patient die because they don't want to have the conversation with the patient and they're too squeemish to amuptate a leg.
I can understand the analogy and it's very apt. It's hopeless.
 

eoghanacht

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I'm with AIB, what will it mean for me if they do get nationalised?
Nothing, as the icelandic fella said on VB last night you may not be able to access your account for about 10 seconds.

Don't panic, leave it where it is. Besides it's as safe as any other Irish bank ;)
 

DeputyEdo

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anything that Cowen or Lenihan says, turn it around 180 degrees, and that's what they really mean
 

Freedom front

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AIB Should have been nationalized 2 years ago - All FF & Greens have achieved is 2 years and billions of tax payers money wasted
 

loner

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Abit off thread but am I the only one who is outraged at the current spate of ads in the media about this wonderful bank that has been screwing us over for the past 20 years and which will likely be owned by us before very long
 

HarshBuzz

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Lenihan really is the perfect contrarian indicator at this stage

you could make billions just following a blind strategy of betting against his pronouncements
 

eoghanacht

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AIB Should have been nationalized 2 years ago - All FF & Greens have achieved is 2 years and billions of tax payers money wasted
My point exactly, they are like an shopoholic who refuses to give up the credit splurge. What do they care.

They won't have to suffer the consequences of bankrupting our society, they'll be nicely sheilded from all that with their generous pensions.

Insanity
 

Ah Well

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Abit off thread but am I the only one who is outraged at the current spate of ads in the media about this wonderful bank that has been screwing us over for the past 20 years and which will likely be owned by us before very long
The one yesterday was particularly galling - the Solicitor who got a gratuity for his time chirping its praises :rolleyes:
 

eoghanacht

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Abit off thread but am I the only one who is outraged at the current spate of ads in the media about this wonderful bank that has been screwing us over for the past 20 years and which will likely be owned by us before very long
No it's the Credit Union one that gets me.

Phuckers.
 

Social Conscience

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The fact that AIB will have to be fully nationalised was known in the markets over 12 months ago. Morgan Kelly in his devastating piece in The Irish Times on Monday confirmed this will happen despite all the BS coming from the top management in the bank.

I honestly would love to see AIB or even the brand AIB close over a period of say the next 10 years because how many times can the country rescue a business who in any other sector would have fallen decades ago. Their continuous model of ‘Sure we are too big to be allowed fail’ should be stuffed down their throats once and for all and they need to be shown how capitalism should really work.
 

CookieMonster

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So we'll own 100% of it rather than the 99.999% of it we already own?
 

DCon

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From the FT

Irish bank chief eyes foreign buyers
Patrick Honohan, Ireland’s central bank governor, on Wednesday put a “For Sale” sign over the country’s ailing banks, stressing that foreign ownership of the troubled sector was “not as far-fetched a scenario as it might appear to some”.
Mr Honohan calculated that if losses incurred at the local operations of Lloyds and Royal Bank of Scotland are also included, Ireland’s property crash has resulted in losses across the six main lenders of €85bn or 55 per cent of gross domestic product.
FT.com / Europe - Irish bank chief eyes foreign buyers

Please forgive my pessimism, but I cannot see a very long queue forming to buy any Irish banks..
 


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