Call for a cull

slothrop

It is surely time for a 'consolidation' of the state banking sector.

Floppybits

slothrop wrote: »

It is surely time for a 'consolidation' of the state banking sector.

I was thinking about this very thing this morning. If all the banks are going to be state owned then it is time to consolidate all of the banks into one big bank or at least 2 banks.

For me the government have been too gentle with these banks especially with the carry on of BOI senior management lying about the bonus's. I think the government should have moved when this came and demanded that Boucher and his senior management resign over this. What are these public interest directors that are on the boards of the banks doing? They don't seem to have the public interests at their heart.

PhatPiggins

I'd rather see them remain as seperate entities and sell them off as soon as possible. We're going to have to shoulder their bad debts regardless but at least selling them to the likes of Bank of Austrailia and HBC would transfer future liabilities off the Irish tax payer.

Though having said that having 2 large consolidated banks might make them more attractive to potential buyers. I just want rid of the gangrenous black holes to be honest.

th3 s1aught3r

How do we fix the banking sector. Do we simply close them down and have one state owned bank or do we let them all carry on, costing the state money and hope they eventually they will make us a few quid ?

sollar

Floppybits wrote: »

For me the government have been too gentle with these banks especially with the carry on of BOI senior management lying about the bonus's.

And i wonder did they lie on the night of the bailout too. This is far more important than the moriarty tribunal. We need action and accountability.

PhatPiggins

sollar wrote: »

And i wonder did they lie on the night of the bailout too. This is far more important than the moriarty tribunal. We need action and accountability.

What are you/we going to do when we get neither?

hmmm

I think 3 is the right number. We might be in a bind now, but we will get out of it eventually and we don't want to end up with one monopoly bank in the country. The AIB/BOI duopoly isn't much better, so a three bank system sounds about the minimum to be sensible.

Manach

Does a cull imply a hunting season on senior bankers?

PhatPiggins

Manach wrote: »

Does a cull imply a hunting season on senior bankers?

Only in a perfect world

Floppybits

sollar wrote: »

And i wonder did they lie on the night of the bailout too. This is far more important than the moriarty tribunal. We need action and accountability.

There is nothing to wonder the banks have lied since the start and continue to do so and until there is some honesty we wont get to the bottom and begin the recovery.

I would rather see tougher banking legislation and regulation that is enforced and that sees any reckless behaviour by senior bank officials result in jail time, than another tribunal that will end up caught in red tape for years. It is time that this country grew up and started punishing white collar crime.

robd

PhatPiggins wrote: »

We're going to have to shoulder their bad debts regardless but at least selling them to the likes of Bank of Austrailia and HBC would transfer future liabilities off the Irish tax payer.

Not sure it would. This is rumoured to be the reason why the government called off the EBS sale to Cardinal.

Euroland

hmmm wrote: »

I think 3 is the right number. We might be in a bind now, but we will get out of it eventually and we don't want to end up with one monopoly bank in the country. The AIB/BOI duopoly isn't much better, so a three bank system sounds about the minimum to be sensible.

One state bank would be enough. The bank must focus on increasing mortgage lending and lending to small and medium businesses.

Euroland

Manach wrote: »

Does a cull imply a hunting season on senior bankers?

O yea, all of them should end up in jail with sentences above 25 years.