Anglo Irish Financial Research...

Merl

I'm doing some research for a thesis at the moment which is analysing the lending policies of Anglo Irish Bank for commerical property purposes from 2011 - 2008. Anyone have any advice on where to start? I'm looking for some bank lending or former bank lending employees to ask a few questions to and would really appreciate any help!

Thanks

ei.sdraob

find out the names of directors

then google them

then go to CRO.ie and find out what other companies are they directors of, and any dirt on these companies (company accounts can be requested on CRO)

ei.sdraob

edit: after some googling i found something rather disturbing

according to wikipedia

Anglo Irish bought Banque Marcuard in switzerland in 2001

googling the bank brings this up

http://www.bloomberg.com/apps/news?sid=au4Y7Cudw2Xo&pid=20601109

Banque Marcuard, a private bank catering to the wealthy and now part of Swiss lender St. Galler Kantonalbank, had invested about $50 million of its clients’ money directly with Madoff in the mid-1990s on Littaye’s recommendation.

Banque Marcuard made money with Madoff along with its clients. They paid fees based on the profits Madoff reported, which averaged a net of 11 percent a year. There was never a losing year, regardless of whether markets went up or down. The proof was in the trading statements sent to clients every month.

does that mean Anglo Irish is connected to Bernard Madoff ?

in case anyone doesnt know who he is > http://en.wikipedia.org/wiki/Bernard_Madoff

Blackjack

ei.sdraob wrote: »

edit: after some googling i found something rather disturbing

according to wikipedia

Anglo Irish bought Banque Marcuard in switzerland in 2001

googling the bank brings this up

http://www.bloomberg.com/apps/news?sid=au4Y7Cudw2Xo&pid=20601109


does that mean Anglo Irish is connected to Bernard Madoff ?

in case anyone doesnt know who he is > http://en.wikipedia.org/wiki/Bernard_Madoff

they may have redeemed before the Madoff scandal broke - could have been the lucky ones to have gotten their money and ran, although there is a chance this may be claimed back from anyone who profited.

They could also have been left on the hook for this.

ei.sdraob

Blackjack wrote: »

they may have redeemed before the Madoff scandal broke - could have been the lucky ones to have gotten their money and ran, although there is a chance this may be claimed back from anyone who profited.

They could also have been left on the hook for this.

yeh i only spend few minutes on this googling

but seeing Anlgo being related to the biggest scam ever is no surprise

whats needed is some investigative journalism

Merl

Thanks - My area of research is more related to their property loanbook, and I only have the scope to study this within Ireland. Draft title is: An examination of Retail property lending by Anglo Iriah Bank from 2001 - 2008 and its subsequent impact on the Irish property sector.

The theory is that Anglo instigated a massive increase in property lending, in particular to the retail sector and BOI & AIB then followed when they saw the massive profits being made. This massive increase in lending then led to massive increases in retail property - too much money chasing too few properties..

Any advice or help appreciated!

ei.sdraob

i see, commercial property

ill recommend asking on thepropertypin as well

Blackjack

Merl wrote: »

Thanks - My area of research is more related to their property loanbook, and I only have the scope to study this within Ireland. Draft title is: An examination of Retail property lending by Anglo Iriah Bank from 2001 - 2008 and its subsequent impact on the Irish property sector.

The theory is that Anglo instigated a massive increase in property lending, in particular to the retail sector and BOI & AIB then followed when they saw the massive profits being made. This massive increase in lending then led to massive increases in retail property - too much money chasing too few properties..

Any advice or help appreciated!

Did Anglo lend to the Retail sector though?. I was under the impression they were more on the Commercial side.

Merl

They definately got involved in retail - presentations on their website outline their loan portfolios. In 2001 the retail loanbook accounted for 10% of overall portfolio, but by 2008 this had more than doubled to 22%.

The irony is that when retail yields on Grafton St were at 2.5% (which is crazy!) the banks were willing to lend, but now when the figures actually stack up with yields at 6.5 - 7% the banks won't lend... Now there's no money chasing too much property!

Retail has also been particularly badly hit due to the lack of consumer spending...

Dannyboy83

ei.sdraob wrote: »

yeh i only spend few minutes on this googling

but seeing Anlgo being related to the biggest scam ever is no surprise

whats needed is some investigative journalism

The impression I got was that the guards know about a lot of this stuff, but they're trying to put together the evidence to prove it.

We don't hear much about it anymore. I guess it will take years.
At that stage, it will be forgotten.
We'll have to rely on the EU/ECB to adopt mandatory regulatioms, because Irish politicians either aren't able to or don't want to (€€€).

Some investigative journalism would be appreciated.
I honestly believe if someone was made to account, people would take the current pain and forthcoming pain a little bit easier.
The secret payoffs and pension top ups have turned a disaster into a catastrophe.