Banking collapse and Back to Back Loans Timeline from 2007 to 2009

[C. Flower]

Posts 202 - 204 have an updated timeline.

[C. Flower]

Posts 202 - 204 have an updated timeline.

Just going to add Brian Cowen's texts and phone call times and durations (numbers redacted by the Department) for 29th and 30th September 2008 to the timeline. Thanks to the Story for publishing this.

http://thestory.ie/2012/05/20/brian-...28The+Story%29

[DCon]

Just going to add Brian Cowen's texts and phone call times and durations (numbers redacted by the Department) for 29th and 30th September 2008 to the timeline. Thanks to the Story for publishing this.

http://thestory.ie/2012/05/20/brian-...28The+Story%29

I wonder if tax exiles keep Irish mobile numbers..

[C. Flower]

Well done to Lorcan K - I've been wanting this for a while.

It leaves out liquidity funding though, which is also debt.


Bank Form Paid from Current (m) Future (m)
Anglo Cash (SIS*) Exchequer €4,000
Anglo Promissory note €25,300
Irish Nationwide Cash (SIS) Exchequer €100
Irish Nationwide Promissory note €5,300
EBS Cash (SIS) Exchequer €625
EBS Promissory note €250
Allied Irish Bank Preference Share NPRF €3500
Bank of Ireland** Preference Share NPRF €3500
Total €11,725 €30,850
*special investment share

He has another table which gives a list of liabilities, which includes Central Bank but not ECB liquidity funds - is that right ?

NAMAwinelake commented


NAMAwinelake says:
March 30, 2011 at 12:04 pm
Hi Lorcan,

I believe that €46.3-51.3bn was the committed figure last September 30th (the €5bn range related to the Anglo estimate of €29.3-34.3bn) when the Department of Finance release the current bailout estimates.

http://namawinelake.wordpress.com/20...out-the-banks/

Tomorrow’s announcements are likely to increase those estimates by €20bn so we will have a revised estimate of €66.3bn to €71.3bn.

Does anyone know where there is an update of this, including ELA debt ?

http://www.independent.ie/business/i...t-2533375.html

[Dr. FIVE]

This time four years ago Cowen, Lenihan, Cardiff were making a decision that ultimately sank the Irish State.

We're still in the dark

[Dr. FIVE]

penny drops as to why Noonan has briefed the press about revisiting the guarantee twice this time of year since taking office

[C. Flower]

penny drops as to why Noonan has briefed the press about revisiting the guarantee twice this time of year since taking office

Annual commemorative issue pilgrimage ?

Or to do with the September financial squeeze and budget to follow ?

[Dr. FIVE]

covering his arse more like.

[PaddyJoe]

This time four years ago Cowen, Lenihan, Cardiff were making a decision that ultimately sank the Irish State.

We're still in the dark

We have a Diageo day.
Maybe we need a 'Brian's Day'.

[PaddyJoe]

penny drops as to why Noonan has briefed the press about revisiting the guarantee twice this time of year since taking office

The banks are paying us for that guarantee. Costs them almost a billion a year.
You can be damm sure that the US investors in BOI have been screaming blue murder about it.

[MPB]

The banks are paying us for that guarantee. Costs them almost a billion a year.
You can be damm sure that the US investors in BOI have been screaming blue murder about it.

A billion we give them, or they steal from us by charging us for withdrawing or saving our own money.

Parasites. Se would be better off without all of them.

[PaddyJoe]

A billion we give them, or they steal from us by charging us for withdrawing or saving our own money.

Parasites. Se would be better off without all of them.

I suppose in one sense the payment is circular when it it comes to the nationalised banks. But not so much for Bank of Ireland.
There's a couple of US hedge funds in there that want the place up and running fairly sharpish.
Getting rid of fees for the government guarantee would help.

[MPB]

I suppose in one sense the payment is circular when it it comes to the nationalised banks. But not so much for Bank of Ireland.
There's a couple of US hedge funds in there that want the place up and running fairly sharpish.
Getting rid of fees for the government guarantee would help.

There is nothing circular about putting 64 billion into a banking system and getting nothing but Govt taxes and extra bank charges in return.

[C. Flower]

I suppose in one sense the payment is circular when it it comes to the nationalised banks. But not so much for Bank of Ireland.
There's a couple of US hedge funds in there that want the place up and running fairly sharpish.
Getting rid of fees for the government guarantee would help.

It would help them make mega profits.

Surely these people bought very low and stand to make a killing ?

And it remains to be seen how "nationalised" these banks are when the chips are down.

The downside /debt is nationalised - when it comes to any future profit the Troika policy is to privatise them after forcing us overstuff them with good capital.

Why in the name of **** was the profitable Polish bank sold ? It made no sense to me if there was ever any intention to have a functioning banking sector in Ireland.

The Troika strategy is to shrink the Irish banking sector radically - inevitably leading to a much shrunken and paralysed domestic economy - and require that shrunken economy to pay back the vast bubble debt of the 2000s. It is simply not doable - and they must know it. The payoff they see is liquidation and privatisation of Irish assets, stripped out public services and a much, much, cheaper labour force.

[DCon]

Shane Ross uses his crystal ball to accurately tell the future

Even today, there are predators hovering over the balance sheets of the two basket cases. As they sit and watch the Irish Government pumping more money into the duo, they are wondering with glee at the prospects of the taxpayer being bled to death in the cause of bringing these banks back to life. They will watch and wait until both patients are restored to good health, back in profit, the competition having fled home to the UK or further afield. Then they will pounce. Then they will plunder. They will buy into a tailor-made cartel.

Happy days will be here again, less than a decade after the bank guarantee. Richie Boucher will be in charge of the Bank of Ireland. The other half of the new cartel -- AIB -- will be run by one of the old guard restored to his former glory.

Two pillar banks, funded by the taxpayer, have eyeballed the Government. The Government blinked first with the guarantee, second when it decided to subsidise their recovery. It is still blinking. Next stop, the Government will sell the duopoly -- stuffed with taxpayers' money -- to overseas vultures. New invaders will beggar the captured Irish customers. Deja vu.

http://www.independent.ie/business/i...g-3281773.html