A few months ago, I said that Bank of Ireland share price would fall to 55 cent and even lower down to the 20’s . Any of my followers that took heed of my advice will now be nursing huge profits
Bank in April I warned that the rights issue was a complete rip off and the Government went ahead and purchased 575.6 million shares at €1.80 each. So at this mornings prices we the taxpayers have sustained loss again of 70 % = 402.92 million Euros in 5 months
In any other business these incompetent baboons Lenihan and Cowen would be kicked out of office ,Truly monkeys wouldn’t do any worse!
As for the distressed shareholders I afraid there is more bad news on the way .Bank of Ireland I believe ,Is harboring derivatives, and the news cannot be good . Anglo and Allied Irish Bank are also in the dog house and nothing will change the direction of the shares until the full facts are known and I don’t mean the banks telling us fibs we need to have an independent audit done on their derivatives trades of which I believe we are looking at 150billion at least in losses
In other words all the banks are insolvent and we are on course for a final showdown with the IMF having to step in and save the day
Shareholders get rid of the toilet paper you are holding.
- SF request the Gardaí to invesitigate Cowen, Lenihan and BOI and AIB officials (politics.ie)
- Bank of Ireland could lose £36m after housing developer’s closure (newstatesman.com)
- S&P Downgrades Bank of Ireland Outlook to Negative (nytimes.com)
- Why Ireland can’t afford to punish reckless lenders to its banks (bbc.co.uk)
- Why Ireland is bailing out foreign banks (blogs.reuters.com)