Is it time to merge all the banks?

[Xray]

Can we afford to have more than one state bank on each high street?

Has the time come to merge all the banks and at least get economies of scale out of what is left. OK there will be a lot of job losses, but if the State is employing people for the sake of it I suggest it be in civil engineering, education and health rather than banking.

The loss of competition is no longer a consideration. Imagine if we had 4 or 5 state run posts offices in every town in the country. We that is effectively where we are with the banks. Its time to get real, Nationalise and consolidate.
http://www.independent.ie/business/irish/aibboi-senior-finance-mandarins-mooted-merger-of-big-two-2262707.html

[ang]

The banks won't allow it.:rolleyes:

[Xray]

The banks won't allow it.:rolleyes:

Funny, sad, but true.

Anyway there are plenty more hospitals to merge first.

[Murra]

Can we afford to have more than one state bank on each high street?

Has the time come to merge all the banks and at least get economies of scale out of what is left. OK there will be a lot of job losses, but if the State is employing people for the sake of it I suggest it be in civil engineering, education and health rather than banking.

The loss of competition is no longer a consideration. Imagine if we had 4 or 5 state run posts offices in every town in the country. We that is effectively where we are with the banks. Its time to get real, Nationalise and consolidate.
http://www.independent.ie/business/irish/aibboi-senior-finance-mandarins-mooted-merger-of-big-two-2262707.html

I think part of the problem was that these banks were 'too big to fail', ie, too many eggs in one basket. In that regard, I think it might be better to go for smaller banks.

[Xray]

I think part of the problem was that these banks were 'too big to fail', ie, too many eggs in one basket. In that regard, I think it might be better to go for smaller banks.

Well no matter how small they are all one now because they are covered by a 500 billion state back up plan. It is nonsense that we only own the crap bits of the system for that. I would not be worrying about the next crisis, lets survive this one. We cannot let any of these cesspits fail now thanks to the genius actions of our betters. So the only other option is to take the best hand out of what we have. We need to reduce the cost of running the banks to a minimum, sell as much assets as possible and force policies on them that suit the economic plans of the country. We can then sell the one state bank in a decade or so. Foreign banks will provide the competition in the meantime.

Give me one good reason I should pay more tax to have BoI and AIB on my main street instead of a respite service for disabled kids? One reason.

[Spectabilis]

I'm just thinking back to when my bank of many years told me 'we don't negotiate with existing customers'. I went to the competition and got a tracker mortgage and an exemption from paying a mortgage protection policy. Lucky me.

If that option had not existed, I would have been at their mercy. I think there had been something like eight increases in my variable rate mortgage in as many years at that point.

If there were only one bank I think ODPs (Ordinary Decent People) would be very vulnerable indeed.

[C. Flower]

I'm just thinking back to when my bank of many years told me 'we don't negotiate with existing customers'. I went to the competition and got a tracker mortgage and an exemption from paying a mortgage protection policy. Lucky me.

If that option had not existed, I would have been at their mercy. I think there had been something like eight increases in my variable rate mortgage in as many years at that point.

If there were only one bank I think ODPs (Ordinary Decent People) would be very vulnerable indeed.

The number of people on tracker mortgages was one of the problems identified by the Stability Group. You may yet bring down the world banking system. :D

[Spectabilis]

Or the world banking system may bring me and the rest of the ODPs down!:eek:

[Sidewinder]

Nationalise the payments clearing system, and possibly BoI which is slightly less toxic than the others. Let the ridiculous Guarantee lapse in September. Let the rest collapse, put them in liquidation, let the liquidator sell the performing loans and current accounts to whoever will buy them. Let gamblers bear their own losses instead of the people.

Shut down every quango and thereby cut the budget deficit from €20bn to €8bn every year by the stroke of a pen. Introduce zero-based budgeting to flush out all the rest of the dodgy supply contracts and HR/PR/Morkeshing/Financial Consultant nonsense deals. Abolish all the FF corrupt supports for corrupt cartels and dodgy rigged markets.

Let the scumbag parasite class emigrate for a change.

Job well started. I've got lots more, but that's the first two weeks sorted.

[Slim Buddha]

Nationalise the payments clearing system, and possibly BoI which is slightly less toxic than the others. Let the ridiculous Guarantee lapse in September. Let the rest collapse, put them in liquidation, let the liquidator sell the performing loans and current accounts to whoever will buy them. Let gamblers bear their own losses instead of the people.

Shut down every quango and thereby cut the budget deficit from €20bn to €8bn every year by the stroke of a pen. Introduce zero-based budgeting to flush out all the rest of the dodgy supply contracts and HR/PR/Morkeshing/Financial Consultant nonsense deals. Abolish all the FF corrupt supports for corrupt cartels and dodgy rigged markets.

Let the scumbag parasite class emigrate for a change.

Job well started. I've got lots more, but that's the first two weeks sorted.

It might take more than a fortnight, Sidey, to get all that through but I agree, it is a good start.

Declare a new republic, one requiring a new constitution which provides the opportunity to remove the toxic property clauses from the existing constitution

Revamp the C & AG's office to give it enforcement powers on government department's budgets. Each government department to be responsible for its own headcount and payroll.

Reduce the size of the Dail, make the Seanad a directly electable body and make both houses sit a minimum of 4 days a week. Holidays to be limited to 6 weeks a year. Expenses to be limited to vouched expenses.

Another fortnight gone........

[BrendanGalway]

Nationalise the payments clearing system, and possibly BoI which is slightly less toxic than the others. Let the ridiculous Guarantee lapse in September. Let the rest collapse, put them in liquidation, let the liquidator sell the performing loans and current accounts to whoever will buy them. Let gamblers bear their own losses instead of the people.

Shut down every quango and thereby cut the budget deficit from €20bn to €8bn every year by the stroke of a pen. Introduce zero-based budgeting to flush out all the rest of the dodgy supply contracts and HR/PR/Morkeshing/Financial Consultant nonsense deals. Abolish all the FF corrupt supports for corrupt cartels and dodgy rigged markets.

Let the scumbag parasite class emigrate for a change.

Job well started. I've got lots more, but that's the first two weeks sorted.


It might take more than a fortnight, Sidey, to get all that through but I agree, it is a good start.

Declare a new republic, one requiring a new constitution which provides the opportunity to remove the toxic property clauses from the existing constitution

Revamp the C & AG's office to give it enforcement powers on government department's budgets. Each government department to be responsible for its own headcount and payroll.

Reduce the size of the Dail, make the Seanad a directly electable body and make both houses sit a minimum of 4 days a week. Holidays to be limited to 6 weeks a year. Expenses to be limited to vouched expenses.

Another fortnight gone........

Two great posts. They should be split into a seperate thread.

Id add to it :

- Introduce a system of Direct, Participatory Democracy. Allow citizens to propose their own laws, shoot-down Government proposals and Recall Politicians who have Disgraced themselves and their office.

- Move to a system of Total Govt Transparency. Every Cent spent in our name should be accountable via a Govt website. Every appointment should also be Announced and Justified. Let us see exactly where our money is going and who is appointing our Public Servants and why.

- A Constitutional clause that states Public Infrastructure remains in Public hands. No more Eircoms.

- Abolish Tax-loopholes. All of them. They benefit only those who dont need them and it impacts the Public purse.

- Stop the Criminal give away of our National Resources. Either bring in Heavy taxes on our Oil and Gas fields our Setup a State company and Nationalise them. Rewrite the laws to favour the Rights of Local communities rather than Large Multinationals with dodgy track-records. Keep processing offshore and bring it onshore away from settlements.

Another 14 days in that.

[Xray]

Nationalise the payments clearing system, and possibly BoI which is slightly less toxic than the others. Let the ridiculous Guarantee lapse in September. Let the rest collapse, put them in liquidation, let the liquidator sell the performing loans and current accounts to whoever will buy them. Let gamblers bear their own losses instead of the people.

Shut down every quango and thereby cut the budget deficit from €20bn to €8bn every year by the stroke of a pen. Introduce zero-based budgeting to flush out all the rest of the dodgy supply contracts and HR/PR/Morkeshing/Financial Consultant nonsense deals. Abolish all the FF corrupt supports for corrupt cartels and dodgy rigged markets.

Let the scumbag parasite class emigrate for a change.

Job well started. I've got lots more, but that's the first two weeks sorted.

Need a hand putting up election posters?

[Xray]

And I heard some ISME supporter today called for tax breaks to allow funds go into small businesses. The solution to banks not lending is a tax loop hole for the wealthy. Great idea!

Just what we need another loop hole...