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Its just a few billion€

  • 13-11-2014 1:55pm
    #1
    drdeadlift
    Closed Accounts Posts: 2,189 ✭✭✭


    How on earth were aib let off with 20+billion €?
    Is there more to this than what the headlines say?


Comments

  • #2
    Generic Dreadhead
    Registered Users, Registered Users 2 Posts: 10,870 ✭✭✭✭Generic Dreadhead


    Cause Banks and Politics that's why


  • #3
    The_Valeyard
    Closed Accounts Posts: 12,452 ✭✭✭✭The_Valeyard


    Because some people are just c*nts


  • #4
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    drdeadlift wrote: »
    How on earth were aib let off with 20+billion €?
    Is there more to this than what the headlines say?
    Bit more info would be useful...


  • #5
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    smash wrote: »
    Bit more info would be useful...

    We (you) own AIB. What do you suspect?


  • #6
    SEPT 23 1989
    Registered Users, Registered Users 2 Posts: 43,028 ✭✭✭✭SEPT 23 1989


    very little was mentioned about this in the media

    why?


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  • #7
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    drdeadlift wrote: »
    How on earth were aib let off with 20+billion €?
    Is there more to this than what the headlines say?

    The Irish Government own 99.8% of the bank. The bank is lending and making a profit now. In a few years the Government will sell it and hopefully make profit for the tax payer. We didnt just hand over billions to it and expect nothing in return.

    A functioning banking system is needed for a modern economy. If there was no banks in Ireland. We would have no modern day economy.eg few functioning business, having to pay for houses with cash, but its difficult to save as there is no where to the savings without banks

    A few nutjobs will tell you that credit unions are the solution. But several credit unions have been bailed out and merged. CUs are nearly worse than banks for transparency. At least with banks you can see how they are doing with their account. CUs dont have to report anything


  • #8
    redfacedbear
    Registered Users, Registered Users 2 Posts: 891 ✭✭✭redfacedbear


    I thought it was obvious from day 1 that we were never getting more than a fraction of the money back. It was put in to keep the bank open and any return from the sale of shares will never come close to realising the amount put in, no?


  • #9
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    redfacedbear wrote: »
    I thought it was obvious from day 1 that we were never getting more than a fraction of the money back. It was put in to keep the bank open and any return from the sale of shares will never come close to realising the amount put in, no?

    It's doubtful we'll get the full amount back, but it wont all be lost. How much will be lost? How long is a piece of string.


  • #10
    Movementarian
    Registered Users, Registered Users 2 Posts: 260 ✭✭Movementarian


    drdeadlift wrote: »
    How on earth were aib let off with 20+billion €?
    Is there more to this than what the headlines say?

    While I do understand this is always an emotive subject, I don't understand peoples need to return to the 'oh the Bank was let off such and such and we bailed it out with this much'.

    You do realise a Banks inherent value is it's share price? Which was destroyed before and after it was bailed out. The simple and very harsh reality is that the Bank had to be bailed out. There was no choice. The damage to the economy and to basic day to day access to money would have been insane if it hadn't been.

    This 'let off' as you call it is ultimately to the states benefit as it will help increase the Banks share price and therefore help us to recoup some or hopefully all of the cost of what we were required to do.

    I just wish people could look past the press headlines of 'Banks get this after we bailed them out' and realise that the Banks nowadays are just full of hard working staff who, for the most part, had no involvement in the sham decisions of the boom time and are just trying to return it to profitability which will hopefully ultimately benefit us all.


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