Let's give AIB a round of applause

guitar44

AIB
They are going to screw there customers to the wall what a shore of strokers.
The European Central Bank has cut interest rates by a quarter of a percentage point to 0.75 per cent, a new record low
this was in July. It was not passed to there AIB Customers.
In September they increased the Mortgage Rates by 0.5%
now we wake up this morning to hear they are they have increased
it again to another 0.5% what a joke so if you have 200.000 K mortgage
you will be paying a extra 60 euro per month on your mortgage.
They are trying to push people over the edge i feel very sad for any one
has a mortgage with this bank it.
I hope they can let us know what they have done with the billions of the tax payers money
they got to bail them out.Just check out the sneaky charges they are taking from your account every 3 months.

Larbre34

Im as resentful as anyone as my mortgage rate has always stayed high, but the truth is if the banks werent on life support, people's deposits would have disappeared a long time ago and whats left of the financial system would have imploded, meaning all of you with an income, be it earned or benefits would have stopped receiving it. 90% of all people are only 2 or 3 pay cheques away from bankruptcy, I dont think anyone here would care to see how it feels.......

Sure, we're getting screwed left right and centre by the state or by the banks, but the world is f***ed, so its the lesser of a couple of far worse evils....

If we do nothing. They will keep doing it.

Simple enough really.

the_syco

charlemont wrote: »

What I would like to know is why do we need/or have AIB ? Aren't we supposed to be in a common market so why don't we use/or have the choice of other banks that are also in the E.U. common market ??

Why would a bank want to lend to anyone in Ireland?

westendgirlie

MagicSean wrote: »

AIB are struggling with loss making. Wonder if that's got anything to do with them not lending anyone any money. Someone should explain to them how banks are supposed to stay profitable by lending money instead of hoarding it.

Based on my fees for the last quarter..... They're not doing too bad!

Larbre34

the_syco wrote: »

Why would a bank want to lend to anyone in Ireland?

Thats true, they dont. Any EU bank could wander in here and get a licence but the foreign players that do operate here restrict themselves to savings plans and wealth management, anything risky like ordinary high street banking is just not worth their while.

SiegHeilNosey

SiegHeilNosey wrote: »

Theres an awful lack of unity in this country. There should be groups, or associations representing people with mortgages in certain banks. Im sure if everyone in a particular group refused to pay their mortgages until that decision was reversed, i dont think it would take long.

Wouldn't take long for the bank to collapse and for us to be back to where we were in 2008?

ejmaztec

the_syco wrote: »

Why would a bank want to lend to anyone in Ireland?

Too true.

The ones that were here ran away with their burning fingers when the sh1t hit the fan, and they only came here to get a piece of the action e.g Bank of Scotland (Ireland), Halifax etc.

Their only presence here now is in the courts debt collecting and repossessing property that they're owed money on.

HobNob

Every AIB variable rate Mortgage customer should email or write to Michael Noonan and ask why is he sitting by and letting AIB get away with this, after all we have bailed them out. I'll be emailing him today
minister@finance.gov.ie

donalg1

Matt_Trakker wrote: »

I'm with ya, some skull's need a cracking. However, we're too lazy to even have decent protests in this country.
Last time there was a proper protest in Ireland was about 8 years ago I think. So solidarity march for union workers and everyone took the day off. In typical Irish style as soon as the march was over people headed to the pub. :rolleyes:

We're too feckless as a nation, that's just one of the many reasons behind this entire mess we're in. Most of us simply do not care enough, we're too selfish. But this isn't a new thing. Look down through our history, it's a common trait though it. "Keep the head down and go about your own business & don't worry about anyone else."

Well in all fairness there was about six people protesting about this or at least the 1bn paid over, granted they were from the occupy dame street group so unlikely any of them actually had a mortgage or had any money in the banks anyway but still they had a lickle protest about it.

Are they still in Dame Street or have they given that up now?

SEPT 23 1989

That bank should not be in existance today

it has been like a cancer in this State since the 80's

Brain Stroking

Swanner wrote: »

You've never borrowed money ? Even the wealthy rely on credit at times. Seriously, climb out from under mommys apron and see how the real world works.

I've never borrowed money and also have not received a penny from my folks since i was 18 which was 12 years ago. It is possible to live within one's means. Just sayin.

juan.kerr

Brain Stroking wrote: »

I've never borrowed money and also have not received a penny from my folks since i was 18 which was 12 years ago. It is possible to live within one's means. Just sayin.

So you will never borrow to purchase a property between now and when you die?

guitar44

Just keep checking your account every 3 months and check the fees they are charging

guitar44

Sorry to hear that.
What a disgrace AIB

DoesNotCompute

flanzer wrote: »

Cue the next round of problems for this country. Mass mortgage defaults.

I've been hearing this for at least a year now. Hasn't happened yet. People will continue getting by. Struggling, but getting by.

AIB are borrowing money from the markets at a higher rate than they are loaning to people. What do people expect is going to happen? They are making a loss on mortgages. It only makes logical sense for them to raise their mortgage rates. Only when AIB stop being a loss making enterprise will they stop asking for more taxpayers money every couple of months.

veryangryman

DoesNotCompute wrote: »

AIB are borrowing money from the markets at a higher rate than they are loaning to people. What do people expect is going to happen? They are making a loss on mortgages. It only makes logical sense for them to raise their mortgage rates. Only when AIB stop being a loss making enterprise will they stop asking for more taxpayers money every couple of months.

It is of course fierce boll0cks that regardless of whether the business does well or not, i have to pay. As a customer, ill have to pay and if i left them id still have to pay through tax

Zebra3

People voted for the corrupt scum that is FF.

Morons.

People then switched to voting FG.

Fool me once.....

.... You reckon SF would do better?

SiegHeilNosey

RoverJames wrote: »

.... You reckon SF would do better?

yes

Ghandee

RoverJames wrote: »

.... You reckon SF would do better?

Better? Who knows.

Worse? Is it even possible to perform worse than these last shower of fcukpots, and of course I include FF, Greens, FG and Labour.


Could it be worse?

Its time for a change imo.

NegativeCreep

I'm afraid whinging on the internet will do nothing. I haven't got any money for them to take so I'm grand. But the rest of you working people are gonna have to do something to show the government that you can't be walked all over. Which is what's happening now. I'm amazed that there hasn't been a more violent protest since this recession began.

coadyd

RoverJames wrote: »

.... You reckon SF would do better?

I'm nearly 40 and have voted 99% of the time for Labor . I have to say I never thought id see that day that id say this but yes I will vote for SF next time around, the other 3 party's are liars and there is no difference between any of them . :mad:

cant wait for any one of them to call to the door next time around

KindOfIrish

flanzer wrote: »

Cue the next round of problems for this country. Mass mortgage defaults.

I'm afraid that mass mortgage defaults have happened already and AIB just trying to get as much as possible from those who still paying.

dvpower

flanzer wrote: »

This country really needs to start getting violent

Who exactly should be the victims of the violence you are urging others to do from behind your keyboard?

AtomicHorror

Stinicker wrote: »

Stupid people who were stupid enough to fall for Fianna Fail's property ponzi scheme deserve what is coming to them really. What is needed is to make people pay their loans or else leave them with nothing.

As a taxpayer I'd rather the banks get more money from their customers than from the exchequer. This doesn't bother me as I don't have debts and anything I buy, whether it cars, property or holidays I always save up for and fund them myself. So really it is only people who were gullible enough to borrow thousands who are effected. Financial darwinism if you will.

And what about people who borrowed within their means and then lost their jobs? Or students who borrowed and then graduated and couldn't get jobs? We cannot all be financial experts any more than we can all be plumbers or doctors- we rely on good expert advice. This does not make us stupid- it's the practical reality of living in a complex society. The advice from the experts was bad and the people were misled. Glad for you that you seem to have some wisdom when it comes to money, but I doubt you'd be as big a fan of Darwinism if your trust was similarly betrayed by, say, the Irish Medicines Board.

squod

coadyd wrote: »

RoverJames wrote: »

.... You reckon SF would do better?

I'm nearly 40 and have voted 99% of the time for Labor . I have to say I never thought id see that day that id say this but yes I will vote for SF next time around, the other 3 party's are liars and there is no difference between any of them . :mad:

cant wait for any one of them to call to the door next time around

Might not get the chance to vote again. So many undemocratic decisions so far anyway.

Enda could become the ruling royalty and run the ccountry without elections. Yes, queen Enda has us by the balls

Biggins

squod wrote: »

...Yes, queen Enda has us by the balls

If thats the case - at least someone's found balls from somewhere!

Troika forced Ireland into repaying €1bn AIB bond – Quinn

EDUCATION MINISTER has said that the government was forced to repay €1 billion to the holders of unsecured bonds in AIB because of the insistence of the EU-IMF Troika.

JustAddWater

Stinicker wrote: »

Stupid people who were stupid enough to fall for Fianna Fail's property ponzi scheme deserve what is coming to them really. What is needed is to make people pay their loans or else leave them with nothing.

As a taxpayer I'd rather the banks get more money from their customers than from the exchequer. This doesn't bother me as I don't have debts and anything I buy, whether it cars, property or holidays I always save up for and fund them myself. So really it is only people who were gullible enough to borrow thousands who are effected. Financial darwinism if you will.

Good for you

Pity your piles of money can't buy tact though

Ghandee

Biggins wrote: »

If thats the case - at least someone's found balls from somewhere!

The big boys made me do it.

Fcukin sicken ye.

Tomk1

By mid-2012 Iceland is regarded as one of Europe's recovery success stories. It has had two years of economic growth. Unemployment is down to 6.3% and Iceland is attracting immigrants to fill jobs

http://en.wikipedia.org/wiki/2008%e2%80%932011_Icelandic_financial_crisis
What did they do different? let the banks fail & put people on trial.

Nothing distinguishes Iceland as much as its aid to consumers. To homeowners with negative equity, the country offered write-offs that would wipe out debt above 110 percent of the property value. The government also provided means-tested subsidies to reduce mortgage-interest expenses:

http://www.shanghaidaily.com/nsp/Opinion/2012/09/27/Iceland%2Bprovides%2Bnew%2Bcrisis%2Bremedy/
In reallity we know if SF got into power they would just row the same boat like FF-FG-Lab, I'd vote for Iceland to take over and shut AIB & co down and put our government heads on trial.

Ghandee

Tomk1 wrote: »

http://en.wikipedia.org/wiki/2008%e2%80%932011_Icelandic_financial_crisis
What did they do different? let the banks fail & put people on trial.

http://www.shanghaidaily.com/nsp/Opinion/2012/09/27/Iceland%2Bprovides%2Bnew%2Bcrisis%2Bremedy/
In reallity we know if SF got into power they would just row the same boat like FF-FG-Lab, I'd vote for Iceland to take over and shut AIB & co down and put a government heads on trial.

Do you think SF, a party who forced the British governments (several of them) to compromise on many, many issues would take the same shiite these other cowards do?

I guess we'll find out soon enough.

dvpower

Ghandee wrote: »

Do you think SF, a party who forced the British governments (several of them) to compromise on many, many issues would take the same shiite these other cowards do?

I guess we'll find out soon enough.

I suppose we could try placing bombs in the litter bins of German cities. :eek:

Ghandee

dvpower wrote: »

I suppose we could try placing bombs in the litter bins of German cities. :eek:

Or try taking money from handicapped Germans?

Fail DV.

Terrible fail.

woodoo

Stinicker wrote: »

Stupid people who were stupid enough to fall for Fianna Fail's property ponzi scheme deserve what is coming to them really. What is needed is to make people pay their loans or else leave them with nothing.

As a taxpayer I'd rather the banks get more money from their customers than from the exchequer. This doesn't bother me as I don't have debts and anything I buy, whether it cars, property or holidays I always save up for and fund them myself. So really it is only people who were gullible enough to borrow thousands who are effected. Financial darwinism if you will.

Stinicker's Mammy: Stinicker your dinners ready

Stinicker: I'll be down in a minute mammy

Stinickers mammy: i got you a lovely cake for your 30th birthday too son

Stinicker: Yeepee yeepee.. i'm never moving out of home mammy.

RoverJames

RoverJames wrote: »

.... You reckon SF would do better?

SiegHeilNosey wrote: »

yes

Ghandee wrote: »

Better? Who knows.

Worse? Is it even possible to perform worse than these last shower of fcukpots, and of course I include FF, Greens, FG and Labour.


Could it be worse?

Its time for a change imo.

coadyd wrote: »

I'm nearly 40 and have voted 99% of the time for Labor . I have to say I never thought id see that day that id say this but yes I will vote for SF next time around, the other 3 party's are liars and there is no difference between any of them . :mad:

cant wait for any one of them to call to the door next time around

FF are and were for the last few decades a slimey shower of rats.

At least though their speel can be at times remotely plausible, SF's isn't. If you reckon FG and Labour are liars can you imagine how bad SF would be, because to reiterate their speel isn't at all plausible and doesn't add up imo

I reckon we'll never know though

Time will tell.

JFlah

AtomicHorror wrote: »

And what about people who borrowed within their means and then lost their jobs? Or students who borrowed and then graduated and couldn't get jobs? We cannot all be financial experts any more than we can all be plumbers or doctors- we rely on good expert advice. This does not make us stupid- it's the practical reality of living in a complex society. The advice from the experts was bad and the people were misled. Glad for you that you seem to have some wisdom when it comes to money, but I doubt you'd be as big a fan of Darwinism if your trust was similarly betrayed by, say, the Irish Medicines Board.

Great point .
When my wife and I borrowed for our home in 2004 we borrowed the absolute minimum to cover the building and MODEST contents , we did,nt use mortgage for cars,holidays to live the high life etc.. we borrowed within our means at the time and quite happily ploughed on with life. 3 kids later the means had become smaller , 1 redundancy later means are smaller still, 2nd redundancy means are gone.. will bank listen help advise assist???? NO .

We were careful , sensible, tried to do the right thing .. circumstances went against us and do we get assistance?? HAHA must be joking we get a mortgage hike instead, if people(and there are lots)can,t pay at the moment , where the **** do AIB expect people to get the means to pay more!!

Also we as a society gave AIB, BOI and possibly a few more banks approximately 7 billion to deal with the issue of arrears difficulty need for re-structuring etc , also banks apparently received guidelines in dealing with GENUINE cases of mortgage difficulty .... where is this money??? where are those guidlines being adhered to???

Bloody joke of a sickening Banana republic we are it'd reduce you to tears of frustration!

Pottler

I don't really care who borrowed what or didn't, what bugs me is that the average person does not appear to see that the greatest shift of wealth ever is happening in front of us and nobody is noticing yet alone reacting. The money in the public purse is being transferred to the private sector, simple as.
It is happening across Europe and the world and will accelerate, not decelerate. The pension funds are empty, the taxpayer income has been handed to the Private sector, Our Natural resources are Privatised and will become more so. In a few years, when we are all paying for Privatised Water, Privatised Electricity(which will be hugely expensive), Privatised Healthcare, Privatised Prisons and almost all Local amenities and Services, your Home has become a taxed asset for Private Sector Benefit(it will all go to "Bondholders" and "Debt Repayment" btw) and the Working Class have a greatly lower standard of living, Remember you were there at the Start. The world will be owned by the Corporations, simple as.

the_syco

ejmaztec wrote: »

Their only presence here now is in the courts debt collecting and repossessing property that they're owed money on.

Ghandee wrote: »

Worse? Is it even possible to perform worse than these last shower of fcukpots, and of course I include FF, Greens, FG and Labour.

Loose any and all US companies when SF raise the corporate tax for foreign companies, thousands of people directly employed become unemployed, thousands more people indirectly (shops, villages nearby said companies) become unemployed.

Yeah, it could get a lot worse.

NegativeCreep wrote: »

Which is what's happening now. I'm amazed that there hasn't been a more violent protest since this recession began.

Stop all forms of social welfare, and you'll get a violent protest. Until then, I can't see it happening.

=-=

Also, SF have not said how they'd gain money.

Seems SF shall cut tax, and more freebies, but where shall they get this money from I ask? If they say f**k off to the IMF as they've been saying FF and FG should do, we'll be up sh|t creek without a boat, never mind the paddle.

If AIB was let goto the wall, most of the other banks would have follows, and we would have had no banks to borrow from. Why would any foreign bank lend money to a country whose people don't pay off their debts?

bnt

EDUCATION MINISTER has said that the government was forced to repay €1 billion to the holders of unsecured bonds in AIB because of the insistence of the EU-IMF Troika.

In case anyone's wondering why this is a big deal, the key is in the word "unsecured". Bonds (loans over fixed periods) come in secured and unsecured types:
- "secured" bonds are basically guaranteed, like your money deposited in the bank: contractually, the borrower (AIB in this case) has to pay it back as specified in the contract, like a mortgage in Ireland.
- "unsecured" bonds are more risky, and the borrower has the option of defaulting (not paying it back), like a mortgage in the USA. This still has consequences, of course - think of what it does to your credit record, and you can expect to pay more if you want to borrow again later.

"Unsecured" bonds, because they are riskier, attract a higher interest rate ("bond yield"). The lender gets more, because they are at more risk of losing their money. So the "unsecured" AIB bond holders got more money in interest ... and got their money back. But - you may ask - if AIB had a get-out clause (default), why was it so important to pay the bondholders back? Because of those consequences I mentioned above: if AIB - that is, the government owners of most of AIB & NAMA - want to borrow again at decent rates, they need to keep one eye on their "credit record".

enda1

So OP bemoans the bank for being bailed out for not making a profit and then bemoans them for trying to make a profit. Then throws his toys out of the pram and tries to incite a riot. And people agree!?

This thread succinctly highlights just how stupid some of the thoughts out there are.

CucaFace

Ghandee wrote: »

Do you think SF, a party who forced the British governments (several of them) to compromise on many, many issues would take the same shiite these other cowards do?

I guess we'll find out soon enough.

Says everything I need to know about you.

What a Muppet.

They did this through violence and murder and not through brilliant ability as politicians.

Really SF and their populist bull**** are targetting the idiots of this country in a hope to get elected. Problem is if this site is anything to go on there probably is enough idiots out there to get them elected.

If you guys really think things are bad now, god help you all if we ever elect a SF Govt comprised of murderers.

I mean this is the party that still won't denounce the murder of an Irish garda in Limerick?????? Im mean just think about the types of people they really are when they can't even denounce the murder of garda McCabe, a normal Irishman who got up to do his job one day and was shot dead by 2 IRA scum bags robbing a bank????

They are scum and nothng more.

IvySlayer

Let's applaud all the people who took out massive mortgages and can't pay it back while we're at it. The AIB will get 'away' with it. It'll be forgotten about in 2 weeks.

Red_Wake

Pottler wrote: »

I don't really care who borrowed what or didn't, what bugs me is that the average person does not appear to see that the greatest shift of wealth ever is happening in front of us and nobody is noticing yet alone reacting. The money in the public purse is being transferred to the private sector, simple as.
It is happening across Europe and the world and will accelerate, not decelerate. The pension funds are empty, the taxpayer income has been handed to the Private sector, Our Natural resources are Privatised and will become more so. In a few years, when we are all paying for Privatised Water, Privatised Electricity(which will be hugely expensive), Privatised Healthcare, Privatised Prisons and almost all Local amenities and Services, your Home has become a taxed asset for Private Sector Benefit(it will all go to "Bondholders" and "Debt Repayment" btw) and the Working Class have a greatly lower standard of living, Remember you were there at the Start. The world will be owned by the Corporations, simple as.

Aren't you a builder/developer?

flanzer

enda1 wrote: »

So OP bemoans the bank for being bailed out for not making a profit and then bemoans them for trying to make a profit. Then throws his toys out of the pram and tries to incite a riot. And people agree!?

This thread succinctly highlights just how stupid some of the thoughts out there are.

Ah come on now, I used the word 'riot' very tongue in cheek. I still think a more sustained level of protest should happen. It's no good having small groups of people from different walks of life turn up with their homemade placards outside Dáil Eireann, or people setting up Facebook groups 'like if you dislike the way the country is run'.

bnt

bnt wrote: »

- "secured" bonds are basically guaranteed, like your money deposited in the bank: contractually, the borrower (AIB in this case) has to pay it back as specified in the contract, like a mortgage in Ireland.
- "unsecured" bonds are more risky, and the borrower has the option of defaulting (not paying it back), like a mortgage in the USA. This still has consequences, of course - think of what it does to your credit record, and you can expect to pay more if you want to borrow again later.

eh no - your deposit is unsecured - is not secured against anything.
Depositors and unsecured bondholders rank the same in Ireland - we have a claim on whatever is left after the secured bondholders get their money in a default.

The government guarantee is different to the being secured/unsecured.

Ghandee

CucaFace wrote: »

Says everything I need to know about you.

What a Muppet.
.

Jeez, that's me put in my place alright.

What Muppet btw?

Why don't we meet up for coffee and we can talk about it?

Brain Stroking

juan.kerr wrote: »

So you will never borrow to purchase a property between now and when you die?

Irrelevant to the point that was made.

ruthloss

suicide_circus wrote: »

I wanna see the constitution burn

wanna watch the oireachtais overturned

wanna witness some blueblood bleed red

murder the government
murder the government
murder the government
murder the government

I'll bring my knitting!!:)

Pottler

Red_Wake wrote: »

Aren't you a builder/developer?

Yes, does that exclude having a view on things?