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Anglo Irish Bank to be Nationalised!

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    #2
    towel401
    Closed Accounts Posts: 2,917 ✭✭✭towel401


    Nice. looks like recession Stephen is here to stay


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    #3
    Insect Overlord
    Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 30,892 Mod ✭✭✭✭Insect Overlord


    I thought it was called Recession Cowen?
    Stupid, misleading After Hours...

    ;)


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    #4
    towel401
    Closed Accounts Posts: 2,917 ✭✭✭towel401


    An File wrote: »
    I thought it was called Recession Cowen?
    Stupid, misleading After Hours...

    ;)

    has there been a name change? i thought they decided on Stephen


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    #5
    engrish?
    Registered Users Posts: 911 ✭✭✭engrish?


    Not nececarily a bad thing, at least the healing can begin. The sooner we stop avoiding the fact that were in a downward spiral we can stop it and start to climb back up.


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    #6
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


    Waiting for Lenihan's and Coughlan's positive spin on it.:P


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    #7
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    engrish? wrote: »
    Not nececarily a bad thing, at least the healing can begin.

    Has there been a lot of healing in the US, Iceland and UK?


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    #8
    abitlonely
    Closed Accounts Posts: 165 ✭✭abitlonely


    Last out, shut the door. This is fair bad. Bank of America is in a spot of bother too.


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    #9
    jimboddb
    Closed Accounts Posts: 169 ✭✭jimboddb


    Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.


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    #10
    towel401
    Closed Accounts Posts: 2,917 ✭✭✭towel401


    jimboddb wrote: »
    Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

    rly? i'm not bovvered


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    #11
    galwayrush
    Registered Users Posts: 12,815 ✭✭✭✭galwayrush


    jimboddb wrote: »
    Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

    But in Ireland, things are done rather differently. he will get a golden handshake, keep whatever he's gained and retire on a massive pension.:mad:
    But yiou are right, he should be jailed,lose all his benifits and if he ever gets out in his lifetime, have to do with a standard old age pension.


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    #12
    iPlop
    Closed Accounts Posts: 2,822 ✭✭✭iPlop


    jimboddb wrote: »
    Former chairman Sean Fitzpatrick must do time for this. We're all now paying back for his greed. Id lock him up & throw away the key.

    +1

    They locked up that poor bastard in dublin city council for all the rezoning(spelling?) bollix and to be fair he should have been locked up ,but do we dare lock up the WbANKERS , "ehh I lost 4 billion mr (c0ck face)cowen"

    Mr Cowen "sure we'll just tighten our belts like charlie in the armani shirt)"



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    #13
    Graham2
    Closed Accounts Posts: 2 ✭Graham2


    But imo the last two lines of that article were key to the whole thing.
    The Government statement said shareholders' rights would be respected, and the legislation will outline plans for compensation.

    The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

    Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.


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    #14
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Graham2 wrote: »
    But imo the last two lines of that article were key to the whole thing.



    The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

    Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

    Independent assessors will determine if Anglo has any value. If so, of course the shareholders should get compensated. You can't have the government going around stealing your property"for the good of the nation"! If you own land that's needed to build a road on, you get (a lot of) compensation as part of the compulsory purchase order. Shareholders believe that the comany is worth something (not a lot given the share price;)), but still worth something.

    P.S. Who exactly are these "shareholding cronies"? The vast majority of people who own shares are regular Joes (be it through their own small private holding, an investment fund, or their pension).


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    #15
    iPlop
    Closed Accounts Posts: 2,822 ✭✭✭iPlop


    Graham2 wrote: »
    But imo the last two lines of that article were key to the whole thing.



    The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

    Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

    Fcukin thick slack jawed ****


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    #16
    The Saint
    Registered Users Posts: 1,932 ✭✭✭The Saint


    What, I own a bank now? Sweet. Where's my money? :p


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    #17
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,078 Mod ✭✭✭✭AlmightyCushion


    The Saint wrote: »
    Where's my money? :p
    It's in Bill's house and .....eh...... Fred's house.


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    #18
    Aldebaran
    Closed Accounts Posts: 2,053 ✭✭✭Aldebaran


    AlmightyCushion wrote: »
    It's in Bill's house and .....eh...... Fred's house.

    What the hell are you doing with my money Fred!?!


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    #19
    Limerick.mcgrat
    Closed Accounts Posts: 7 ✭Limerick.mcgrat


    Is there anything in existing company law which says what happens here to the shares people own? It other words have they made a legal disposal of the shares at this point or what is the position?
    yayamark wrote: »
    Just announced on RTE News

    Shares suspended.

    More to follow at 9pm news.

    http://www.rte.ie/news/2009/0115/banks.html

    More Good news


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    #20
    thelordofcheese
    Closed Accounts Posts: 4,368 ✭✭✭thelordofcheese


    Is this the rage against something you don't really understand thread? 'Cos it looks like one, but you can never be sure these days.


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    #21
    SEPT 23 1989
    Registered Users Posts: 43,028 ✭✭✭✭SEPT 23 1989


    this country is in so much trouble:mad:


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    #22
    Graham2
    Closed Accounts Posts: 2 ✭Graham2


    Graham2 wrote: »
    But imo the last two lines of that article were key to the whole thing.



    The previous plan for the government to take a 75% share would have reduced the current shareholders' holdings to 25% of what they were. Instead, now they'll all be "compensated".

    Translation: the government will use our tax money to make sure that their shareholding cronies aren't out of pocket and in return we get a rundown useless bank that they can sink more and more of our money into propping up, whilst giving highly paid positions to still more of their cronies.

    I also do horoscopes . . .

    http://www.youtube.com/watch?v=aDtYwqo6g84&feature=player_embedded


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    #23
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    ....


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    #24
    funk-you
    Registered Users Posts: 2,743 ✭✭✭funk-you


    Old thread is old.

    -Funk


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    #25
    ejmaztec
    Registered Users Posts: 24,072 ✭✭✭✭ejmaztec


    This thread started when we were poor.


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    #26
    Stinicker
    Banned (with Prison Access) Posts: 7,102 ✭✭✭Stinicker


    ejmaztec wrote: »
    This thread started when we were poor.

    And now we are all rich again, phew I'm glad that spell is all over, there it was bad there while it lasted. Fair play to Fianna Fail for rescuing the country and getting us booming again.


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    #27
    Augmerson
    Banned (with Prison Access) Posts: 6,162 ✭✭✭Augmerson


    Anglo nationalised?! When did this happen!?


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