Anglo Irish Bank to be Nationalised!

yayamark

Just announced on RTE News

Shares suspended.

More to follow at 9pm news.

http://www.rte.ie/news/2009/0115/banks.html

More Good news

towel401

Nice. looks like recession Stephen is here to stay

Insect Overlord

I thought it was called Recession Cowen?
Stupid, misleading After Hours...

towel401

An File wrote: »

I thought it was called Recession Cowen?
Stupid, misleading After Hours...

has there been a name change? i thought they decided on Stephen

engrish?

Not nececarily a bad thing, at least the healing can begin. The sooner we stop avoiding the fact that were in a downward spiral we can stop it and start to climb back up.

galwayrush

Waiting for Lenihan's and Coughlan's positive spin on it.:P

brianthebard

engrish? wrote: »

Not nececarily a bad thing, at least the healing can begin.

Has there been a lot of healing in the US, Iceland and UK?

abitlonely

Last out, shut the door. This is fair bad. Bank of America is in a spot of bother too.

jimboddb

Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

towel401

jimboddb wrote: »

Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

rly? i'm not bovvered

galwayrush

jimboddb wrote: »

Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

But in Ireland, things are done rather differently. he will get a golden handshake, keep whatever he's gained and retire on a massive pension.:mad:
But yiou are right, he should be jailed,lose all his benifits and if he ever gets out in his lifetime, have to do with a standard old age pension.

iPlop

jimboddb wrote: »

Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

+1

They locked up that poor bastard in dublin city council for all the rezoning(spelling?) bollix and to be fair he should have been locked up ,but do we dare lock up the WbANKERS , "ehh I lost 4 billion mr (c0ck face)cowen"

Mr Cowen "sure we'll just tighten our belts like charlie in the armani shirt)"

Graham2

But imo the last two lines of that article were key to the whole thing.

The Government statement said shareholders' rights would be respected, and the legislation will outline plans for compensation.

The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

dotsman

Graham2 wrote: »

But imo the last two lines of that article were key to the whole thing.



The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

Independent assessors will determine if Anglo has any value. If so, of course the shareholders should get compensated. You can't have the government going around stealing your property"for the good of the nation"! If you own land that's needed to build a road on, you get (a lot of) compensation as part of the compulsory purchase order. Shareholders believe that the comany is worth something (not a lot given the share price;)), but still worth something.

P.S. Who exactly are these "shareholding cronies"? The vast majority of people who own shares are regular Joes (be it through their own small private holding, an investment fund, or their pension).

iPlop

Graham2 wrote: »

But imo the last two lines of that article were key to the whole thing.



The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

Fcukin thick slack jawed ****

The Saint

What, I own a bank now? Sweet. Where's my money?

AlmightyCushion

The Saint wrote: »

Where's my money?

It's in Bill's house and .....eh...... Fred's house.

Aldebaran

AlmightyCushion wrote: »

It's in Bill's house and .....eh...... Fred's house.

What the hell are you doing with my money Fred!?!

Limerick.mcgrat

Is there anything in existing company law which says what happens here to the shares people own? It other words have they made a legal disposal of the shares at this point or what is the position?

yayamark wrote: »

Just announced on RTE News

Shares suspended.

More to follow at 9pm news.

http://www.rte.ie/news/2009/0115/banks.html

More Good news

thelordofcheese

Is this the rage against something you don't really understand thread? 'Cos it looks like one, but you can never be sure these days.

SEPT 23 1989

this country is in so much trouble:mad:

Graham2

Graham2 wrote: »

But imo the last two lines of that article were key to the whole thing.



The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

I also do horoscopes . . .

http://www.youtube.com/watch?v=aDtYwqo6g84&feature=player_embedded

....

funk-you

Old thread is old.

-Funk

ejmaztec

This thread started when we were poor.

Stinicker

ejmaztec wrote: »

This thread started when we were poor.

And now we are all rich again, phew I'm glad that spell is all over, there it was bad there while it lasted. Fair play to Fianna Fail for rescuing the country and getting us booming again.

Augmerson

Anglo nationalised?! When did this happen!?