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Anglo billions

  • 28-02-2010 9:01pm
    #1
    BrownianMotion
    Registered Users, Registered Users 2 Posts: 94 ✭✭


    An article about how much Anglo is suspected to cost the State.

    Anglo and Irish Nationwide to cost 12 billion
    The financial black holes in the balance sheets of Anglo Irish Bank and Irish Nationwide Building Society look set to cost the exchequer about €12 billion to remedy.

    It's sickening how the State has ended up in the position where it is completely liable for this mess. The worrying thing is we do not know the final cost yet either.


Comments

  • #2
    zootroid
    Registered Users, Registered Users 2 Posts: 784 ✭✭✭zootroid


    I have yet to hear a convincing argument about why Anglo should have been nationalised instead of being let go to the wall. It's just going to end up being a massive drain on our finances for years to come


  • #3
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    zootroid wrote: »
    I have yet to hear a convincing argument about why Anglo should have been nationalised instead of being let go to the wall.

    The only half decent one I've heard is that letting it fail could have brought down one of the other small Irish banks with it.


  • #4
    Fat_Fingers
    Registered Users, Registered Users 2 Posts: 1,245 ✭✭✭Fat_Fingers


    Anglo should have been allowed to collapse. It still zombie bank after all the money is dumped into it.

    AIB and BOI will by default be nationalized. They should dismantle them and make one solid good bank.

    And of course sack all members of the board and senior management. Start fresh...


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