What goes on at anglo Irish now?

zig

Just wondering what physically happens at anglo Irish now, I mean in the offices. What work is done? Are they still investing/lending/speculating. Im just at a bit of a loss right now as to what they are up to.

Seth Brundle

We are all at a loss tbh!

vibe666

you know what it's like when you get your xmas decorations down to put up the tree and you find the lights for the tree stuffed into the box in a big jumble and you have to try and unravel them before you can check them and then try and put them on the tree?

now imagine trying to do that with thousands of sets of lights from the last 20 years that belonged to all sorts of people who never thought anyone would actually have to unravel them, or did but just didn't care at the time because they knew it wouldn't be them.

now re-imagine all those xmas lights as financial records and you have some idea of what they're doing.

Seth Brundle

...and then once you unravel them all you realise that your electricity has been cut off!

vibe666

kbannon wrote: »

...and then once you unravel them all you realise that your electricity has been cut off!

...and someone gives you some money for the meter and as you put it in and the power comes back on and lights all the lights you realise that everyone you know is stood in a big bath full of water holding all the cables and the person that gave you the money to put in the meter has an evil grin on their face.

tenchi-fan

....and most of the lights aren't performing, the wiring is faulty, and you wish you had just thrown them out and started again rather than trying to save them.

Sea Sharp

And then you realise you don't even have a Christmas tree to put them on.

ei.sdraob

gandalf

ei.sdraob wrote: »

Wasn't that their business plan

dan_d

I have a relative working there.

Like any bank, it's divided into sections. You have to remember they still have functioning arms in the UK, Jersey (I think!) and the US.

Their lenders aren't up to much.The Treasury and Retail Depts are probably also non-existent at this stage. Their auditing dept is still going strong.....their work is cyclical, they've certain deadlines and regs to meet every year. I understand PWC and Ernest and Young are in and out on a regular basis (don't ask me why).

It is still a functioning bank, in that there are still depositors there, there are still loans there that are performing, particularly abroad.....

As to the details though, I'm not entirely sure!

vibe666

whatever it is, i imagine that it involves a lot of shovelling.

Liam Byrne

vibe666 wrote: »

you know what it's like when you get your xmas decorations down to put up the tree and you find the lights for the tree stuffed into the box in a big jumble and you have to try and unravel them before you can check them and then try and put them on the tree?

now imagine trying to do that with thousands of sets of lights from the last 20 years that belonged to all sorts of people who never thought anyone would actually have to unravel them, or did but just didn't care at the time because they knew it wouldn't be them.

now re-imagine all those xmas lights as financial records and you have some idea of what they're doing.

"Never thought anyone would have to unravel them" ?

Something tells me that - for some accounts at least - the precise opposite isn't beyond the bounds of possibility.

It's harder to unravel tangled webs if (just in case) someone somewhere does want to unravel them.

Liam Byrne

dan_d wrote: »

I have a relative working there.

Like any bank, it's divided into sections. You have to remember they still have functioning arms in the UK, Jersey (I think!) and the US.

Their lenders aren't up to much.The Treasury and Retail Depts are probably also non-existent at this stage. Their auditing dept is still going strong.....their work is cyclical, they've certain deadlines and regs to meet every year. I understand PWC and Ernest and Young are in and out on a regular basis (don't ask me why).

It is still a functioning bank, in that there are still depositors there, there are still loans there that are performing, particularly abroad.....

As to the details though, I'm not entirely sure!

Someone actually trusts Anglo's auditing dept?????

Why ??? And who ????

ei.sdraob

Liam Byrne wrote: »

Someone actually trusts Anglo's auditing dept?????

Why ??? And who ????

Its worse than that, someone actually trusts Ernst and Young! weren't they the ones who were auditing Anglo in the first place (and Lehmans) :mad:

dan_d wrote:

I understand PWC and Ernest and Young are in and out on a regular basis (don't ask me why)

to cover their tracks/hide their mess of course

drBill

vibe666 wrote: »

whatever it is, i imagine that it involves a lot of shovelling.

And shredding.