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What banks/financial institutions were bailed out by the Irish government...

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  • 24-10-2012 4:22pm
    #1
    Worztron
    Registered Users Posts: 8,707 ✭✭✭


    Hi.

    What banks/financial institutions were bailed out by the Irish government (Irish people more like) and by how much?

    AIB = ?
    Anglo Irish = ?
    BOI = ?
    EBS = ?
    Irish Nationwide Building Society = ?
    ...

    What is the total and are they still getting more free money?

    Feel free to add more to the list and fill in the missing parts.

    Thanks.

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."

    Tagged:


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    #2
    Geuze
    Registered Users Posts: 13,396 ✭✭✭✭Geuze


    Those five plus permanent TSB.

    Total cost of re-capitalisation is about 64bn so far.

    About half into Anglo + INBS, now merged into IBRC.

    Note that in return for the capital, we now own these banks, well except that we sold a slice of BoI.


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    #3
    Worztron
    Registered Users Posts: 8,707 ✭✭✭Worztron


    I wonder if it was the biggest fraud/scam pulled off on any country of our size?

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."



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    #4
    Geuze
    Registered Users Posts: 13,396 ✭✭✭✭Geuze


    I wouldn't call it a fraud or scam, as it is all legal and decided by the parliment.

    It is very costly, much more costly than a typical banking / financial crisis as seen in many other countries.


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    #5
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Worztron wrote: »
    I wonder if it was the biggest fraud/scam pulled off on any country of our size?


    Not this nonsense again. Brian Lenihan legally guaranteed the banks on 30 September 2008. Everything that has happened since is a consequence of that decision.

    Has it really taken you four years to start thinking about this?


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    #6
    Worztron
    Registered Users Posts: 8,707 ✭✭✭Worztron


    Geuze wrote: »
    I wouldn't call it a fraud or scam, as it is all legal and decided by the parliment.

    It is very costly, much more costly than a typical banking / financial crisis as seen in many other countries.

    The golfing gang at anglo irish bank (casino) knew the writing was on the wall many months before the bailout and were certain they'd be saved.

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."



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    #7
    Worztron
    Registered Users Posts: 8,707 ✭✭✭Worztron


    Godge wrote: »
    Not this nonsense again. Brian Lenihan legally guaranteed the banks on 30 September 2008. Everything that has happened since is a consequence of that decision.

    Just because it was 'legal' does not make it ok. Case in point - That low life judge Brian Curtin got away on a technicality due to our wonderful legal system even though he was clearly guilty.
    Godge wrote: »
    Has it really taken you four years to start thinking about this?
    :rolleyes:

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."



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    #8
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Worztron wrote: »
    Just because it was 'legal' does not make it ok. Case in point - That low life judge Brian Curtin got away on a technicality due to our wonderful legal system even though he was clearly guilty.


    :rolleyes:


    You described it as a fraud/scam. They are illegal.

    Now you say it was legal.

    So which is it?


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    #9
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭thebman


    It should be noted, this is the second bail out AIB have gotten...

    They are really bad at this banking thing but we keep helping them stay in the game for some reason.


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    #10
    Worztron
    Registered Users Posts: 8,707 ✭✭✭Worztron


    thebman wrote: »
    It should be noted, this is the second bail out AIB have gotten...

    They are really bad at this banking thing but we keep helping them stay in the game for some reason.

    Author Unknown: "Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world."

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."



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    #11
    Worztron
    Registered Users Posts: 8,707 ✭✭✭Worztron


    Godge wrote: »
    You described it as a fraud/scam. They are illegal.

    Now you say it was legal.

    So which is it?

    I was quoting your use of 'legal' - hence the quotes.

    Consider filling in the totals that were initially asked in the thread.

    Mitch Hedberg: "Rice is great if you're really hungry and want to eat two thousand of something."



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    #12
    Good loser
    Registered Users Posts: 3,198 ✭✭✭Good loser


    Worztron wrote: »
    I was quoting your use of 'legal' - hence the quotes.

    Consider filling in the totals that were initially asked in the thread.

    € 30 bn was 'given' to the balance sheet of Anglo plus INBS but nothing was given to the owners.

    The bank was owned by the shareholders; they got none of this money as their value was obliterated.

    The Govt, for whatever reason, took over ownwership of these two institutions.

    The shareholders (I wasn't one) have more to complain about the bosses than the Govt has. Many were ruined.

    Incidentally the bosses are now ruined too.


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    #13
    Scofflaw
    Registered Users Posts: 23,283 ✭✭✭✭Scofflaw


    thebman wrote: »
    It should be noted, this is the second bail out AIB have gotten...

    They are really bad at this banking thing but we keep helping them stay in the game for some reason.

    Second Irish bailout. They also availed of the Federal bailout in the US early in the crisis.

    As to the OP question:

    Input Type|AIB/EBS|BoI|IL&P|IBRC (Anglo/INBS)|Total
    Government preference Shares (2009) - NPRF|€3.5 billion|€3.5 billion*|
    |
    |€7 billion
    Capital contributions (with Promissory Notes as consideration) /Special Investment Shares (2010) – Exchequer **|€900 million|
    |
    |€30.7 billion|€31.6 billion
    Ordinary Share Capital (2009) – Exchequer|
    |
    |
    |€4 billion|€4 billion
    Ordinary Share Capital (2010) - NPRF|€3.7 billion|
    |
    |
    |€3.7 billion
    Total pre-PCAR 2011 (A)|€8.1 billion|€3.5 billion|
    |€34.7|€46.3 billion
    PCAR 2011:|AIB/EBS|BoI|IL&P|Anglo/INBS|Total
    Capital from Exchequer***|€3.9 billion|-|€4 billion|
    |€7.8 billion
    NPRF Capital |€8.8 billion|€1.2 billion|
    |
    |€10 billion
    Total PCAR (B)|€12.7 billion|€1.2 billion|€4 billion|
    |€17.8 billion
    Total Cost of Recap for State (A) + (B)|€20.7 billion|€4.7 billion|€4 billion|€34.7|€64.1 billion


    cordially,
    Scofflaw


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