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Nationalise AIB

  • 31-10-2010 5:59pm
    #1
    Closed Accounts Posts: 9,376 ✭✭✭


    I hate the idea of nationalisation but It seems AIB has screwed the people of this country yet again

    Its after loosing the national pensions reserve 1.8 billion :rolleyes:, yes that's your, mine and everyone elses pension pot being robbed there


Comments

  • Registered Users, Registered Users 2 Posts: 6,710 ✭✭✭flutered


    was some one payed to stress test some of the banks ?


  • Registered Users, Registered Users 2 Posts: 1,558 ✭✭✭kaiser sauze


    I believe that the only reason that AIB has not been nationalised is the negative market sentiment that would ensue.

    It is really a lose-lose situation, but nationalising it is clearly the best option for the taxpayer, but it is not the best option for appearances abroad to be taking our once largest company into public ownership.

    The government are clearly more concerned with Ollie Rehn's thoughts than those of Joe Soap.


  • Registered Users, Registered Users 2 Posts: 3,872 ✭✭✭View


    ei.sdraob wrote: »
    I hate the idea of nationalisation but It seems AIB has screwed the people of this country yet again

    Its after loosing the national pensions reserve 1.8 billion :rolleyes:, yes that's your, mine and everyone elses pension pot being robbed there

    I think Labour had that idea around 2 years ago when the crisis first broke.

    Instead, what we have had since then has been a bit like a slow motion movie sequence - everyone knows what is probably going to happen all along but we have to watch it frame-by-frame because the guys with the remote (the government) think if you play it slowly, there might be a different ending.


  • Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    View wrote: »
    I think Labour had that idea around 2 years ago when the crisis first broke.

    Instead, what we have had since then has been a bit like a slow motion movie sequence - everyone knows what is probably going to happen all along but we have to watch it frame-by-frame because the guys with the remote (the government) think if you play it slowly, there might be a different ending.

    see first comment over at article
    Karl

    The “good bank: bad bank” template for dealing with critically under-capitalised banks in a way that best protected the State’s balance sheet was published Fine Gael almost 18 months. It was, of course, rubbished by the usual “there is no alternative” to NAMA apostles, some of whom (e.g. Alan Dukes) then went on to apply to template to Anglo.

    As you know, the original idea was the leave the difficult-to-value developer loans with the “bad banks” or asset recovery vehicles. With most of those now sold to NAMA, what categories of assets would you leave with the bad bank of AIB?

    Andrew

    sigh :(


  • Closed Accounts Posts: 920 ✭✭✭Lenny Lovett


    I believe that the only reason that AIB has not been nationalised is the negative market sentiment that would ensue.

    It is really a lose-lose situation, but nationalising it is clearly the best option for the taxpayer, but it is not the best option for appearances abroad to be taking our once largest company into public ownership.

    The government are clearly more concerned with Ollie Rehn's thoughts than those of Joe Soap.
    It's ridiculous to think that negative market sentiment was taken into account. In the UK the Government was faced with similar circumstances with Northern Rock, HBoS Lloyds etc etc. They moved decisively and very rapidly and Nationalised them. Dispensed with the head honchos and turned them around and returned the majority of the holding to the open market within a year. As someone stated above, here, it's like a slow motion movie. And THAT created the negative market vibe!


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  • Registered Users, Registered Users 2 Posts: 1,558 ✭✭✭kaiser sauze


    It's ridiculous to think that negative market sentiment was taken into account. In the UK the Government was faced with similar circumstances with Northern Rock, HBoS Lloyds etc etc. They moved decisively and very rapidly and Nationalised them. Dispensed with the head honchos and turned them around and returned the majority of the holding to the open market within a year. As someone stated above, here, it's like a slow motion movie. And THAT created the negative market vibe!

    And that, therein, is the basis of my statement...

    If our government had moved decisively and rapidly to nationalise Anglo, and then AIB when it became clear that it was needed, the negative market sentiment I alluded to would not be so strong.

    The markets liked the quick and clear actions The UK government took while our clueless tits mini-manage one element of each institutions' crisis to the next.


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