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Why didnt Ireland buy the Ango bonds nstead of guaranteeing them?

  • 02-11-2011 8:25am
    #1
    dixiefly
    Registered Users, Registered Users 2 Posts: 2,951 ✭✭✭


    Maybe it is easy to be clever in hindsight but it looks to me that we (as a country) should have bought those bonds at the low rates considering we were going to give a banket guarantee on them.

    At lease we wouldnt have being handing an easy profit to some specualators.


Comments

  • #2
    RichardAnd
    Registered Users, Registered Users 2 Posts: 3,934 ✭✭✭RichardAnd


    I'm sure there were many things we could have done with Anglo and the other banks that would have been better than what came to pass. However, I also believe that those very same profiteers had something to do with the advice the two Brians decided to listen to.


  • #3
    Crazy Horse 6
    Closed Accounts Posts: 2,474 ✭✭✭Crazy Horse 6


    http://www.youtube.com/embed/5LTCT7QIeP8


  • #4
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    the ones being paid out now are not guaranteed

    as per parallel thread there is no good reason to pay it, or at least not pay out the interest (13%) portion of it


  • #5
    dixiefly
    Registered Users, Registered Users 2 Posts: 2,951 ✭✭✭dixiefly


    ei.sdraob wrote: »
    the ones being paid out now are not guaranteed

    as per parallel thread there is no good reason to pay it, or at least not pay out the interest (13%) portion of it

    I understand that there are probaby a number of reasons that what i am saying couldnt have happened.

    It is still extremey galling to say the least that some speculators made a fortune by buying our bonds at knockdown prices after our guarantee....at least that is my reading of it.


  • #6
    eric hoone
    Registered Users, Registered Users 2 Posts: 485 ✭✭eric hoone


    wouldn't it have been a bit like insider trading?


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  • #7
    dixiefly
    Registered Users, Registered Users 2 Posts: 2,951 ✭✭✭dixiefly


    eric hoone wrote: »
    wouldn't it have been a bit like insider trading?

    I am not sure but it would be interesting how much money these specuators that bought after Anglo were known to be going / gone bust made on the punt.


  • #8
    Voltex
    Registered Users, Registered Users 2 Posts: 1,581 ✭✭✭Voltex


    I suppose it will be for the same reasons the Goverment will sell its share in the banks as soon as possible. The Goverment are not bankers...but stepped in with a Goverment like response to an unfolding situation.


  • #9
    Wider Road
    Registered Users, Registered Users 2 Posts: 196 ✭✭Wider Road


    dixiefly wrote: »
    Maybe it is easy to be clever in hindsight but it looks to me that we (as a country) should have bought those bonds at the low rates considering we were going to give a banket guarantee on them.

    At lease we wouldnt have being handing an easy profit to some specualators.



    Judging by Enda's reply in the Dail on Wednesday, he doesn't know either!!!


  • #10
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,378 ✭✭✭✭jimmycrackcorm


    eric hoone wrote: »
    wouldn't it have been a bit like insider trading?

    It would in the sense that the government would be perceived as manipulating the markets by issuing an edict and then slyly taking advantage. Very soon the country would be viewed as being untrustworthy to lend money to let alone be credit worthy.


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