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Will the IMF finally take a tough hand with the banks

  • 19-11-2010 8:06am
    #1
    waster81
    Registered Users, Registered Users 2 Posts: 749 ✭✭✭


    Hopefully now the IMF will finally restructure the banks.

    Get rid of all the board members leeching around.

    Rationalise the banks, there is a need to slash the number of employees in the banks, they are underworked,

    We effectively will own all the banks, we need major reforms, major cuts in they way they do their business, major redundencies

    Maybe we will get a banking sector like those in main europe, like actually opening at 9 o clock until 5 o clock.

    There needs to be foreign ownership of the banks.


Comments

  • #2
    Aodhfinn
    Closed Accounts Posts: 19 ✭Aodhfinn


    when you use the word ..WE ... who are you talking to , if u cared to look i would caution you regards the IMF ... who will quickly become saints here in the x colonial republic ... and now republic of markets....non republic .. market slave , elite slave

    Since you do use the word WE ... tell me is really the restructing of banks all you expect from this country ... this people ???


  • #3
    flutered
    Registered Users, Registered Users 2 Posts: 6,710 ✭✭✭flutered


    are they not bankers ?.


  • #4
    dan_d
    Closed Accounts Posts: 2,819 ✭✭✭dan_d


    It would be a start.

    I don't view the IMF as a saviour, but I would be very strongly of the opinion that since the EU are here, I'd be quite happy for them to tear our banks apart and put them back together. I'd be only too delighted for them to give the regulator a lot of power, to impose sanctions on banks that break rules, and to remove the same 10 or so people that seem to sit on the boards of all banks. And finally, I'd be only too thrilled to see them telling the banks that they will be held accountable by the EU, that the EU will be watching any changes they make (such as 100% mortgages, bank charges, pushing extra credit limits on people), and approving or disproving these things.

    And I don't think it will do our economy one whit of harm if this were to happen. I'm not talking about loans or bailouts here, but I'd be only too delighted if the only outcome of this visit was a stricter rein on our banks. Until they can be trusted to function on their own again.People would get used to doing business within these parameters - after all, that's how banks did business up until 10 years ago, and that's how they do it in most other countries - and we would all survive. And hopefully, be the better for it. Politicians will change, but one thing that has become abundantly clear in all this is that our banks behaved like complete cowboys, and that needs to be stopped from happening again.


  • #5
    waster81
    Registered Users, Registered Users 2 Posts: 749 ✭✭✭waster81


    Its clear that they havent changed their philospohy.

    At every turn to have concealed the true picture, facts and figures.

    Only yesterday in the Public Accounts Commiteee, Nama as much as said they lied about loans be transferred to nama.

    Practises havent changed, policy of cover up is still going strong.

    A whole change in practises of the banks has to be implemented.


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