Should AIB be kept alive?

who_ru

given that it is almost 100% state owned, hemmorhaging deposits corporate (definetly) and individual (probably)and essentially bust - why keep it on life support anymore?

locomo

who_ru wrote: »

given that it is almost 100% state owned, hemmorhaging deposits corporate (definetly) and individual (probably)and essentially bust - why keep it on life support anymore?

'cos its the biggest bank in the country and if the best paid people in the country ( including the public service ) had no cash dispensing machines in the country to go to, then how would the country survive ? Who would have money to splash in the expensive shops if the teachers + gardai + politicians and hse workers could not ? And would these people keep working if the banks atm's stopped working / their bank accounts frozen ? The whole system would collapse. Plus nationalising a bank / wiping out the shareholders altogether , sends a very bad message to the US firms who are here employing 100,000 people ? Would their assets be nationalised next, the same as the assets of the British who left at the time of the last trouble 90 years ago ?

Amhran Nua

locomo wrote: »

Would their assets be nationalised next

Unless they had borrowed to the hilt and expected the taxpayer to cover the tab, why would this be anything more than wild imagination? AIB is basically nationalised already; Anglo shareholders haven't received anything and the world hasn't come to an end.

Sleepy

Ask Santander how much they'll give us for it / require to take it off our hands tbh.

santiago

Sleepy wrote: »

Ask Santander how much they'll give us for it / require to take it off our hands tbh.

That will be nice but unfortunatly Santander is not allowed to buy anymore.
And why Ireland when their target now is South America

thebman

The answer is quite obviously that it should be kept alive until my transfer of my funds is completed later this week

ashleey

Also, add up the money shovelled into aib and then calculate it's Market value. You will find that you will have to pay someone some serious cash to take it off our hands

amen

Plus nationalising a bank / wiping out the shareholders altogether QUOTE]

why not ? The shareholders took a risk when purchasing shares in AIB. The risk didn't pay off so wipe them out. If I buy share in Joe Blogs Trading company and he goes bust I don't get anything back from the government. Why should AIB be different (btw I own AIB shares) ?

In effective it is nationalised and the state now owns it.

And would these people keep working if the banks atm's stopped working / their bank accounts frozen?

Nationalising wouldn't cause that. Basically it just means the state own's it.

sends a very bad message to the US firms who are here employing 100,000 people

Not at all. No intention of nationalising those US firms. Why would we? What would we do with a nationalised Intel, Goolge, Analog Devices, Boston Scientific.

What type of state do you think we live in ?

Sheeps

should be kept alive long enough for me to get my money out

oncevotedff

locomo wrote: »

...if the best paid people in the country ( including the public service ) had no cash dispensing machines in the country to go to, then how would the country survive ? Who would have money to splash in the expensive shops if the teachers + gardai + politicians and hse workers could not ? And would these people keep working if the banks atm's stopped working / their bank accounts frozen...

If AIB went bust then I suspect that those public servants with accounts in the bank would simply switch to a bank with functioning ATMs. The fact that AIB goes bust won't absolve the various govermnet departments from paying their employees.