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Covid 19 - will the banks fail in Ireland - cannot see how not

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  • 16-03-2020 1:12am
    #1
    mkdon
    Registered Users Posts: 419 ✭✭


    this time who can bail them out? Everyone else broke


Comments

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    #2
    yabadabado
    Registered Users Posts: 16,531 ✭✭✭✭yabadabado


    mkdon wrote: »
    this time who can bail them out? Everyone else broke

    Can you expand on this .

    Why can you see them all failing and why?


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    #3
    mkdon
    Registered Users Posts: 419 ✭✭mkdon


    scores of jobless folk - cannot pay mortgages - house prices drop - unemployment rises.... etc.


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    #4
    yabadabado
    Registered Users Posts: 16,531 ✭✭✭✭yabadabado


    What's your timeframe?

    How many job losses do you expect?
    How many defaulting on their mortgage payments?

    All pretty important issues to know before going down your doomsday scenario of all the banks failing?


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    #5
    rob316
    Registered Users Posts: 18,098 ✭✭✭✭rob316


    mkdon wrote: »
    scores of jobless folk - cannot pay mortgages - house prices drop - unemployment rises.... etc.

    That's not why the banks failed the last time.


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    #6
    C3PO
    Registered Users Posts: 3,759 ✭✭✭C3PO


    What’s this got to do with Accommodation and Property ... there’s an After Hours forum for this sort of post!


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    #7
    The Bishop Basher
    Registered Users Posts: 4,279 ✭✭✭The Bishop Basher


    C3PO wrote: »
    What’s this got to do with Accommodation and Property ... there’s an After Hours forum for this sort of post!

    What do banks failing have to do with property ?

    Really ?


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    #8
    73bc61lyohr0mu
    Closed Accounts Posts: 312 ✭✭73bc61lyohr0mu


    Toilet paper will become the new currency..


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    #9
    Gael23
    Registered Users Posts: 12,112 ✭✭✭✭Gael23


    House prices will nosedive yes but the banks won’t fail


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    #10
    someday2010
    Registered Users Posts: 187 ✭✭someday2010


    No - the funding structure of banks is different this time a lot more funding from customer deposits rather than rolling over short term European institutional money which cause the crunch the last time.

    Ultimately, all Irish banks failed spectacularly and went bankrupt during the GFC, then causing the country to go bankrupt in 2010 - did a single depositor lose a single cent on deposit in an Irish bank - no. Did the taxpayer lose a fortune - yes.


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    #11
    mkdon
    Registered Users Posts: 419 ✭✭mkdon


    what do you base your logic on?


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    #12
    utmbuilder
    Registered Users Posts: 471 ✭✭utmbuilder


    mkdon wrote: »
    what do you base your logic on?
    I don't think even rents will dive


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    #13
    silver2020
    Registered Users Posts: 2,045 ✭✭✭silver2020


    STOP THE BULLSH1T AND SCAREMONGERING


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    #14
    Jin luk
    Registered Users Posts: 388 ✭✭Jin luk


    Morgage freeze would freeze rents in turn allowing people to just survive this quarantine and containment, its the only sensible option. A massive amount of workers are self employed.


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    #15
    OwlsZat
    Registered Users Posts: 1,511 ✭✭✭OwlsZat


    Solvency then Solvency has employed scores of actuaries to setup financial institutions to prevent them going bust again. However, bank shares are traded like junk penny stocks. I'll have to ask them how they did. My suspicion is the banks won't go insolvert rather continue to trade like junk stocks.


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    #16
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Mod Note

    not A & P related.

    Thread closed.


This discussion has been closed.
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