Operation Digout - Politics.ie

http://www.politics.ie/economy/73102-stop-anglo-bailout-operation-digout.html

The FFers who want to burden the next 3 generations with debt in order to pay for their developer buddies must be stopped.

They need to get permission from the EU to do this bailout. So, lets stop it at EU level.

Send an email to this address, SG-PLAINTES@ec.europa.eu , and highlight your feelings about the bailout. Please post the emails you send on this thread. Members of other boards such as the pin, boards.ie, machine nations, please post a message there.

If enough of us complain, we will stop FF.

Dear Sir/Madam

The irish government are about to approach the commission to seek approval to inject €4billion to keep Anglo Irish Bank afloat. I am sending this email in an act of direct democracy as I feel my elected representatives are out of step with not only my own views on this issue, but the vast majority of the Irish people. I respectfully request that the commission decline the Irish governments request.

Yours Sincerely,

Also up on the propertypin
http://www.thepropertypin.com/viewtopic.php?f=46&t=22413

spank_inferno

good idea - sent mine

Sleepy

Mailed. It needs to be let go bust.

Liam Byrne

Sent.

ElvisP

Lenihan was on the telly last week saying that he had to inject billions into Anglo and that if he didn't, it would cost us billions and billions.
Why exactly? Why not treat it like any other business?

e-mail sent. nice work

Rb

Sent.

Surely if the bank goes bus though, the government will have to cough up for every deposit. Which will cost far more than 4 billion?

MrMatisse

Rojomcdojo wrote: »

Surely if the bank goes bus though, the government will have to cough up for every deposit. Which will cost far more than 4 billion?

Exactly. Its horrible to have to give that 'bank' money but its the lesser evil.

Anglo is a developers bank, they should lose their money.
Otherwise the govt pay 100,000 back to you if you had it and the bank goes bust.
Moral hazard with all that too.

But its certainly NOT a lesser evil. The govt wont be stopping at 4 billion either. Go look up the figures involved. 4 billion is an INSTALMENT. Am ready to give up on ye all, people are so easily fooled.

Think about it - that 4 billion is most of the tax increases made in the past few budgets. Every penny extra your paying is keeping these developers from going bankrupt. NAMA is gonna cover them for 15 years. Wake up people, your being robbed.

antoinolachtnai

Contacting the commission is not altogether a bad idea.

However, you have to contact them with a coherent argument. I would suggest that the argument is that it is contrary to Article 87 of the EC Treaty, which forbids state aid. The result of this state aid is that banks that should have failed have been rescued. As a further result, startup banks and banks across the eurozone which did not make the same mistakes as Anglo Irish Bank are being put at a major disadvantage.

ElvisP

Are the total deposit amounts in Anglo in the public domain? Is their (realistic) mortgage book? Can we pay the depositors back their money, sell the mortgages to another institution and close the thing? S&P have downgraded Ireland.Inc to AA- so we are paying prohibitive interest rates thereby enslaving us with debt for generations to come.
Have you seen ZeitgeistAddendum?

http://www.zeitgeistmovie.com/

Liam Byrne

Rojomcdojo wrote: »

Surely if the bank goes bus though, the government will have to cough up for every deposit. Which will cost far more than 4 billion?

NOW they will, because that idiot Lenihan agreed to bail them out without reading the fv<king report! :mad:

But back then we should've let them go down the swanee, the same way the average Joe Soap will go if they try and default on their mortgages and/or loans. :mad:

rockmongrel

Sent.

How about instead of giving money to the banks, give us all 100,000