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Archive for the ‘Irish Life and Permanent’ Category

Brian Lenihan’s statement this morning.

New NAMA adjustments

1. Loans of less than €20m not being transferred now .

2. NAMA debtors to drop from 1500 to 850

3. NAMA to abandon tranches, replaced with one remaining tranche per Participating Institution (PI – AIB, Anglo, BoI, EBS, INBS) Irish Nationwide Building Society

4. Anglo tranche to be transferred by end of October 2010

5. Loan-by-loan due diligence to continue

6. EU consulted and advised – (But it got EU  approval ?)

7. Loss of sub-€20m loans to reduce NAMA portfolio from €80bn at par value to €73.4bn

8. A 67% haircut expected on remaining Anglo tranche of €19bn (remaining Anglo tranche of €19bn plus T1+2 = €35bn and Anglo was supposed to be selling loans and sub €20m loans are now excluded – is €19bn right?)

9. Large increases in estimates of haircuts remaining tranches – Anglo 67%, AIB 60%, BoI 42%, EBS 60%, INBS – not shown (why?)

source http://namawinelake.wordpress.com/author/namawinelake/

You want to know who I am?

This article was sent in this morning and I thought it might be of interest to some of you.

I know I recognize lot of this man’s current life’s problems.
The sordid intervention of derivatives in all of our lives will sometime soon have to be faced up to
We are approaching the event horizon of this apocalyptical event
Everything is been sucked in and when it has consumed everything we will see the mother of all bubbles burst. With the announcement of the Anglo Irish Banks half yearly results and the results of Irish Life & Permanent, there is no mention of their derivative positions and the catastrophic losses there are still hiding from the public (Proof Anglo Irish deals in derivatives (CFD,s) you only need to read this article in the Irish times )http://www.irishtimes.com/newspaper/finance/2010/0827/1224277688678.html?via=rel

with the full knowledge of the current corrupt government
you have been warned!

By John Mele :
You want to know who I am? First, I’ll tell you who I was.
I joined the Marines when I was 18, went to Vietnam when I was 19, was an 0331 machine gunner, survived a tour of duty in heat and humidity in the mountains of northern South Vietnam near the DMZ. My rear base, the Rockpile, was the most remote base in Vietnam at that time, or so we were told. I survived that war and when I got home I used the GI Bill to get into the Boston Architectural Center, a night school of Architecture. I worked days a few years as a construction laborer and then as an office boy in an architectural office. I got married, was accepted to the University of Oregon and got my BA in architecture in ’77, worked, moved a few times (due to recessions), had two beautiful daughters, raised my family, etc.
After Nam I straightened out, as they say, and sailed a pretty solid course even when the seas of the economy were rough. We had our ups and downs, weathered financial recessions, lost one home and built another, finally settled in Knoxville, TN where I had my own architectural business mainly because I couldn’t work in a cubicle with 400 other architects.
But in ’09 that all changed. This is who I am now.
I am a former Marine, Vietnam war veteran, mad as hell and about to lose my home again. As far as I could tell, our entire financial system collapsed. I mean take forty to fifty years of “economic progress” and just dump it. That is in essence what happened. Many are still clinging to it, hoping for its revival. Something will recover but that something will never be what it was before. In ’09 they changed all the rules. The jobs disappeared, gone to China and India. Guys like me and those before us built this great land and were no longer needed. The bridges, the skyscrapers, the industrial centers, the homes, highways, dams and byways, all built by us, was now thrown away as the “financial system” did not need us anymore. Things called “derivatives” took our place. The US auto industry was on the ropes, banks were collapsing, Wall Street was in chaos, and millions saw the future as a place of unemployment or low paying jobs, if one was available.
So, I decided not to follow the same path I’d been on. With no prospects for work and a boiling anger about–what I felt–was a stolen future for me and my country, I decided to take some alternative actions. I had not failed, the system had failed me and I was determined not to give up but also not to be a fool. I was 60 and soon no matter what I did age would get me. Do I go down playing by the ever-changing rules of financial insanity that I was being forced into? Do I take any job and try to keep the home I spent a lifetime working for? In short, do I suck it up again, go to where I must and start over again at 60 and keep my mouth shut and show up for work and do this until I am dead?
Hell, I’d rather charge up a hill and give it my all to save my “SPIRIT”, because that is the most precious part of any of us. Think “Geronimo” and replace it with “Whitehorse” and you get an idea of WHY I planned this. One last gasp, one last charge, one last mission till the forces of my destiny would overtake me. Would I die trying, if so I was willing to face and accept that? Would Whitehorse save me? I had no idea. I had no idea! It all started with a joke I said to my wife. After repeating it a few times it made more sense than what I was seeing around me.

The inequalities of life invade all our lives. In essence we all make decisions within the confines of the hand we are dealt. At age 60 I decided to challenge that hand one last time and in doing so set my SPIRIT FREE.

I am cycling to Whitehorse, on a bike with a 65 pound pack, a 3700 mile trip…I’ll see you there, if I last…

House price index (Permanent TSB/ESRI)

Quarter 1, 2010 – Permanent TSB/ESRI Index crashes 10.3% for Dublin

Today sees the publication of the first Permanent TSB/ESRI QUARTERLY house price index which replaces the old monthly index which was suspended following publication of the December 2009 index because of thin sales. The index published today tells us that the price of residential property has fallen by 4.8% since the end of December 2009 to the end of March 2010, ie an average monthly fall of 1.6%. The indication is that the pace of price falls is easing overall. The average price of a property nationwide is now €204,830. However prices in Dublin crashed 10.3% in the quarter which is worse than the 7.5% fall in Q4, 2009.

The National House Price index stood at 91.0 at the end of March 2010. The last time it was at this level was in November, 2002  when it stood at 91.2. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec).

The Dublin House Price index stood at 83.0 at the end of March 2010. The last time it was at this level was in June, 2002 when it stood at 83.3. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec). The average price of a property in Dublin is now €250,872.

The Outside Dublin House Price index stood at 95.9 at the end of March 2010. The last time it was at this level was in March, 2003 when it stood at 96.3. The following shows the index since June 1999 at the end of each quarter (Mar, Jun, Sep, Dec). The average price of a property is now €183,309.

So the key questions : are prices still falling? We don’t know by month but it is certainly the case that prices have continued to fall since December 2009 and the rate of fall between Sep-Dec 2009 (quarter) was 8.5% compared with a fall between Dec 2009 and March 2010 (quarter) of 4.8%.

source http://namawinelake.wordpress.com/2010/04/30/quarter-1-2010-permanent-tsbesr-index-crashes-10-3-for-dublin/

Careful what you ask for!

 

With the cries of change the government getting louder, I caution and ask the question will we be any better off?

Make no mistake I want to have a change of government and I want to jail All
the corrupt Basta***

Responsible for the mess we are now in.

What exactly will the new government do about the political gangsters responsible for the mess we are now in?

Will they reverse the whole
NAMA
fraud?(Never Any Money Again)

Will they route out the civil servants in the Department of Finance who are totally out of touch with the reality of the modern financial markets and who are obviously in cahoots with the crooks in the boardrooms of the country’s banks?

Will we see Berti Ahern, Brian Lenihian, and Brian Cowen all go to jail??

Will we see anybody go to jail? Will we see Sean Fitz, and the X financial regulator go to jail?

Will we see the Board of directors of Irish Life and permanent go to jail?

The system we use to elect a new government does not behold any political party to hold its promises to the electorate. So they can promise what they like only when in power forget all about it!

unless we have a new system that allows the people an instrument that they can use to change the government if the people deem that the elected government have lost their way and broke their promises that got them into government in the first place.

The political system that any (New) government will be using is the same system that this government are using and this is where we get screwed all the time.

For example the system allowed the Fiannia Fail government to take control by first telling us lies; they had control of all the economic information kept it to themselves!

Then they were able to get the greens on side with offers of power sharing, who promptly ditched their own core values and morals.

The economy fell off a cliff. They are now imposing NAMA on us and we as a result will now lose our national financial independence.

In other words we lose our Independence just like that!

The political system allows these traitors to destroy our country and we the people can’t do anything about for another two years?

We the people now know that this government are responsible for all of this mess and we cannot now get them out, because of systems they have helped to put in place over the last 90 odd years .why is there no system in place for the people to kick out governments that have blatantly broke their word, abandoned their promises to the electorate, by claiming that the economic conditions have changed?

Why in such an event we the electorate don’t get to have our say again with the new economic facts put in front of us?

Why must we allow our country to be destroyed for the next 5 years by people who have abandoned all the promises made to the electorate?

We must change the system that allows politicians to do just what they please once they get into power .remember they are supposed to be working for us and not the other way round!

So with regards to a change of government, chaining personal just because they are from the other side of the Dail is no longer good enough ,we need to have qualified people running the country

To get this we need to have universal free and lifelong education.

An educated people would be in a better position to know and elect better people to positions of power and even come up with a better system of ensuring that the government of the day is held accountable to the people the real masters.

we need reform now!

The current Irish Government are responsible for the financial disaster the country is in,
With the establishment of NAMA the Government is trying to socialize the enormous losses that the Banks and their Developer buddies have encored.
Corruption is rife and now a new monster burocratic system is being created, where X politicians will have jobs for life and the same corrupt developers will be able to manipulate the housing market all over again
While the people are being robbed of their homes, savings, pensions, and education for their children, that same gangsters are running the country
This has to stop!
Join the CAB to-day and get things moving
Come on! Get active in your own area now!
We as a country need new faces and not the same old tired faces that have being around using the system to suite themselves.

Tell the people the truth about the Markets & NAMA

Do you really want to know what is really going on in the market place?
Ever heard of the “Rigged Market capitalists system”
Are you ready for this news??
Ernst & Young auditors of Anglo Irish Bank now working for NAMA ,
The same auditors for Lehman Brothers .
This is criminal , allowing this to go on, they should all be in Jail !
We must have a new Irish people’s political party that will stop this fraud in its tracks.
A political party that will prosecute all the individuals responsible for this criminal conspiracy
They must be brought to justice
We the people must have our pound of flesh!

Guilty as charged

 

The European Commission cleared the corrupt Irish governments plan to bail out the countries financial institutions. Ireland established the National Asset Management Agency last year as a Toxic “bad bank,” thus bailing out well connected developers and the criminal activities of the top banks

These Toxic and worthless assets will be purchased from these firms with Irish government bonds. To the tune of now 80 billion Euros

The commission said the Irish plan was in line with rules allowing state subsidies to business during a serious economic crisis. The measure, which is said to targeted the real estate assets, but is also bailing out the banks bad derivative positions is key to cleaning up Irish banks

Five Irish financial firms plan to use the plan, according to the commission.

The bank involved are : Anglo Irish Bank,  Allied Irish Banks, Bank of Ireland, Irish National Building Society and Educational Building Society.

  what we are seeing is the complete destruction of private enterprise as we know it from now on we will have to ask permission from the corrupt bosses in Brussels to wipe our a****

Out national independence is now lost and our own corrupt government have sold us out to their real bosses the international bond holders

Every one of them deserves to be hanged on charges of treachery!

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