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Damn right! - Man hits one banker with one or more eggs but misses another

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One of Ireland’s top bankers was pelted with eggs today as hundreds of angry shareholders attended a meeting.

Dermot Gleeson, chairman of Allied Irish Bank, ducked to avoid the missiles just moments after addressing an emergency general meeting at its banking centre in Dublin.

Pensioner Gary Keogh, who was removed from the building, said he was extremely angry after losing his pension in the economic downturn.

“The whole board should be replaced by Mickey Mouse and Donald Duck,” he said.

“We should go to Disneyland and Paris.”

Mr Keogh, 66, from Blackrock in south Dublin, said he felt compelled to throw the eggs after Mr Gleeson tried to speak over another shareholder.

Mr Keogh said: “For the last number of years we have been told to put our money into the banks – now we have no pensions.

“I have no pension. My pension now is wiped out because of AIB. I cannot sell the shares because they are useless.

“I will be here next year if I can’t sell my shares at a reasonable price.”

Mr Keogh, an investor in AIB for 20 years, said that, although he enjoyed some good times as a shareholder, he had not enjoyed it as much as this morning.

He admitted he came to the EGM armed with the eggs and would have done the same at the Bank of Ireland shareholders’ meeting had he been invited.

Hundreds of angry shareholders packed Allied's banking centre for the EGM, where they will later vote to ratify the Government's €3.5bn recapitalisation plan.

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Mizu_Ger

javaboy wrote: »

If the shareholders had held the bankers to higher standards over the years, these kind of childish theatrics wouldn't be necessary.

People who complain about the general economy and also voted for FF are told that it's their own fault for voting FF into government. Is it not the same argument for the shareholders in the banks? They voted for the boards that run the company, so they shoulder some of the responsibility.

Having said that, I feel sorry for the older people who have lost their pensions. Especially since the board members won't be short of a few quid when they are voted off.

ejmaztec

If those eggs had actually hit him, they could have caused serious damage, leading to him being carted off to hospital in the back of an albumince.:p

ScumLord

TheZohan wrote: »

Yes the banks were greedy but so were the shareholders.

Shares are high risk, all shareholders knew this.

How many of them were giving out when the share values were rising?
None.

It's not about the shares, it's about people putting 10s of thousands of Euros into their pensions their hole lives only to be told now at retirement that all that money is gone and they're left with less than 10,000 to live on for the rest of their lives.

Banks have taken all our money and thrown it down the toilet and we're rewarding them for it. Instead of them putting their tails between their legs and taking their medicine they're increasing their charges to cover their own arses and making out like bandits with bonuses.

RATM

Snow-Monkey wrote: »

whats wrong with these people they should of thrown there shoes

Just as he was being escorted out by security an RTE camera and interviewer pulled up in front of him and he said something along the lines of:

"I would've thrown my shoes but because of those bankers I can't afford to lose my shoes!"

A shareholder with an address in affluent Blackrock won't be getting much sympathy IMO. But if he lost all of his pension because it was all invested in AIB shares then the old adage rings true:
Never put all your eggs in one basket :pac:

Mr.Lizard

ejmaztec wrote: »

If those eggs had actually hit him, they could have caused serious damage, leading to him being carted off to hospital in the back of an albumince.:p

I like a good pun as much as the next person but even I can't advocaat that usage.

marcsignal

I'm delighted that anger at bankers is being vented in this way, because public humiliation is the ONLY cure for arrogance

Caoimhín wrote: »

Can I throw eggs at Paddypower because I lost a tenner on the 3.30 at Punchestown?

very true Caoimhín, and a great analogy, but it's a pity it wasn't some anonymous customer that did it instead of shareholders. I'd have thought that people investing in shares would know what a first year secondary school economics student would know, that these things come in cycles, and by definition makes investing in shares, no more than a glorified crap game.

Great the banker was pelted:), but sour grapes on the part of the shareholders,imo.:cool:

swingking

ejmaztec wrote: »

If those eggs had actually hit him, they could have caused serious damage, leading to him being carted off to hospital in the back of an albumince.:p

epic FAIL!!

The_Minister

ejmaztec wrote: »

If those eggs had actually hit him, they could have caused serious damage, leading to him being carted off to hospital in the back of an albumince.:p

Great.

Now we all have cancer.

tech77

ejmaztec wrote: »

If those eggs had actually hit him, they could have caused serious damage, leading to him being carted off to hospital in the back of an albumince.:p

Now that was rotten.

Seriously though, there's not a good egg among them if you ask me.

Overheal

Caoimhín wrote: »

Can I throw eggs at Paddypower because I lost a tenner on the 3.30 at Punchestown?

Because Gambling and Depositing your money into a bank are the same thing.

ejmaztec

Mr.Lizard wrote: »

I like a good pun as much as the next person but even I can't advocaat that usage.

swingking wrote: »

epic FAIL!!

The_Minister wrote: »

Great.

Now we all have cancer.

tech77 wrote: »

Now that was rotten.

Seriously though, there's not a good egg among them if you ask me.

:P

:cool: I didn't think it was a turkey.

stepbar

Anybody that has their whole life savings / pension in one publically quoted company deserves to loose it all for being so dumb.

[Deleted User]

Why on earth would a pensioner have all his pension invested in shares, and not only that but just one company's?

magick

congrats on Gary the egg man throwing his eggs, its a pity he didnt throw his shooes as well !

javaboy

Overheal wrote: »

Because Gambling and Depositing your money into a bank are the same thing.

Depositing your money into a regular savings account? No. Anything involving shares? Yes.

stovelid

Moral of the story:

You lose your pension because greedy bankers punted stupid money to developers and lenders: egg the banker, vent fury on government.

Your house is skyrocketing in value because greedy bankers are punting stupid money to developers and lenders: play golf with banker, vote in government majority

Joe Cool

ScumLord wrote: »

It's not about the shares, it's about people putting 10s of thousands of Euros into their pensions their hole lives only to be told now at retirement that all that money is gone and they're left with less than 10,000 to live on for the rest of their lives.

The pensions are not paid out in shares. Pensioners will still receive their pension their pension from their employer and the state.

Pensioners using their retirement income to buy shares are taking a calculated risk but whether they make money or lose money on these shares it won't effect their pension annuity.

thelordofcheese

Joe Cool wrote: »

The pensions are not paid out in shares. Pensioners will still receive their pension their pension from their employer and the state.

Pensioners using their retirement income to buy shares are taking a calculated risk but whether they make money or lose money on these shares it won't effect their pension annuity.

don't you DARE bring reality into this, people are trying to bitch and moan about things they don't understand in here!

dollybird09

Most are commending this guy for throwing eggs at Gleeson...I'm surprised..

Those pensioners who say they were dependent upon dividends to fund their everyday expenses were naive and irresponsible in investing their entire retirement fund into one publicly listed company. Dividends are not a guaranteed source of income so nobody should depend on them to pay day to day expenses. If you aren't willing to accept the risks associated in investments, you should either diversify or invest in bonds or equivalent risk free option.

I do feel sorry for those who were ill advised, though I think throwing eggs is juvenile and will achieve nothing. Dermot Gleeson and Eugene Sheehy did not personally cause the crisis. Yes AIB made poor decisions..... (AIB... not just Gleeson/Sheehy)

....eggs in one basket n all that... :rolleyes:

dollybird09

thelordofcheese wrote: »

don't you DARE bring reality into this, people are trying to bitch and moan about things they don't understand in here!

:rolleyes:

redman

I congratulate Gary The Egg Man....

Today is a turning point and I think a lot of people feel it....

The country can express it's anger stage and now hopefully we can get on with the next stage and rebuild the economy.

[Deleted User]

redman wrote: »

I congratulate Gary The Egg Man....

Today is a turning point and I think a lot of people feel it....

The country can express it's anger stage and now hopefully we can get on with the next stage and rebuild the economy.

Hopefully not involving pensioners investing their savings into shares

[Deleted User]

Joe Cool wrote: »

The pensions are not paid out in shares. Pensioners will still receive their pension their pension from their employer and the state.

Pensioners using their retirement income to buy shares are taking a calculated risk but whether they make money or lose money on these shares it won't effect their pension annuity.

I think they meant pre- annuity purchase...

admiralofthefleet

missed opportunity. he should have hard boiled them

Judgement Day

Pity Gary Keogh didn't score a direct hit on the ......anker! If only more people in this country had the balls to stand up to the powers that be we wouldn't be in the present mess!

What a lot of posters seem to miss is that many people, particularly middle-class pensioners, depend on their investments for dividends to live off. They are not playing the market for big capital gains. Many of them have portfolios of shares, managed for them by banks, trust companies etc, built up by years of thrift to ensure that they have some degree of security in their twilight years. Many of them would not be entitled to the State OAP - I know my grandparents, both of whom who survived into their nineties, received nothing from the State except tax demands. I am just thankful that they didn't live to see their lives ruined by the actions of an elite coterie of out of control bankers, developers and politicians who have brought the country to the brink - again! :mad:

farva

You've got to love the way he's saying that he has been "told" for years to put his money into bank shares. Ok traditionally financials have been seen as low risk but he was still taking a risk by not having his money on deposit and had been earning a premium above the risk free rate of return for taking that risk. You've got to feel sorry for someone who has lost a fortune, especially at that stage in life but at the end of the day he took a risk in the hope of making a profit and got burned.

It amazes me that people don't seem to realise that Eugene Sheehy was running an international organisation with a net income of c. €2.5bn employing 24,000 people and that Dermot Gleeson is/was a non exec, they would have been so far removed from the lending to developers. It's the guys who ran and are currently running those divisions that have fcuked up BIG TIME and need to go - Ronan O'Neill (Head of Corporate Banking Ireland) and his boss Colm Doherty (Head of Capital Markets).

I know that as CEO the book stops with Sheehy so he has P&L responsibility but in my opinion it's really the corporate banking divisions who've made the lending mistakes and should be cleared out.

Joe Cool

bluewolf wrote: »

I think they meant pre- annuity purchase...

As far as I know the benefit they would have acquired can only be used to purchase pension. There's options for Buy-out Bonds and the like but generally speaking the money wouldn't be handed over for the purchase of shares.

The majority of pensioners who were out today would have been on Defined Benefit pensions and there wouldn't be any annuity purchase involved there.

Maybe they'd use there Tax-Free Lump Sum payment but they'd still be in receipt of a regular pension payment.

The only Pensioner who I can see losing all their Pension in shares are ones who's benefit would have been viewed as Trivial and they'd have gotten a once-off payment to do with as they saw fit.

I'm tired.

hurdehur

No problem with him egging the idiotic bankers but it's just as well he wasn't a Northsider or he'd be spending the night in Mountjoy. That said, he let down the sporting tradition of this country with his aiming. It was all a bit Ronan-O'Gara-after-a-day-at-the-races-ish.

RATM

farva wrote: »

It amazes me that people don't seem to realise that Eugene Sheehy was running an international organisation with a net income of c. €2.5bn employing 24,000 people and that Dermot Gleeson is/was a non exec, they would have been so far removed from the lending to developers. It's the guys who ran and are currently running those divisions that have fcuked up BIG TIME and need to go - Ronan O'Neill (Head of Corporate Banking Ireland) and his boss Colm Doherty (Head of Capital Markets).

I know that as CEO the book stops with Sheehy so he has P&L responsibility but in my opinion it's really the corporate banking divisions who've made the lending mistakes and should be cleared out.

Hear, Hear! Do you have their addresses so we can go round and throw eggs at them :pac:

S.I.R

ScumLord wrote: »

Should have thrown bricks and set the place on fire. Down with banks!

ahh yes, down goes our economy with them (Y)

mad yokes these days.

Tar and feathers is far more effective.