Archive for the ‘Irish Pirate Banks’ Category
I missed this demonstration because I was not aware that is was taking place but you can be sure I will be there for the next one on Tuesday the 18th of May .I am not sure of the time but I think it will be 17.00 hrs at Parnell square anyone that wants to get rid of this un-elected government and bring about a new elected government with a new mandate should support these protests
A COMMON misconception about the AIB has certainly been more reckless than its long-time rival when it comes to developers but it remains to be seen how much businesses and home buyers will actually repay.
National Asset Management Agency is that it is taking on all the bad loans from the country’s banks. In fact, the taxpayer is assuming responsibility for less than a quarter of the banks’ enormous debt burden.
NAMA is taking loans from 1,000 large and medium-sized developers which means that it will own a cornucopia of fields, half-built office blocks, fully-built hotels and blocks of flats.
NAMA won’t be taking control of the much larger number of loans used by companies to invest in equipment and factories, or the money borrowed by individuals to buy houses, cars and other consumer durables.
NAMA plans to take ownership of loans with a total value of €80bn while the combined value of the five NAMA banks’ loan book is €362bn.
This means the bank loans that will pass into NAMA are somewhere between a fifth and a quarter of all the money currently lent out by those five banks and building society.
Some analysts and outside organisations, such as the Organisation for Economic Co-operation and Development, are concerned about the debt that remains on the banks’ books.
While Allied Irish Banks appears in a much worse situation this week than rival Bank of Ireland, the fact remains that both banks have loan books of roughly equal magnitude, or €131bn each.
Posted by jayfromeire on Mar 25th, 2010 and filed under Economic Crisis, International. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry from your site
William K. Black wrote a book in 2005 titled “The Best Way to Rob a Bank is to Own One” where he outlined the fraud and corruption at the highest levels of international banking.
What we are seeing now in the light of massive bonuses, involving billions of Euro, Dollars and Pounds, being handed out to executives and lower level employees, is simply the same culture of fraud and corruption which has seeped down to the lower levels of an industry which has utterly disregarded any pretence of moral conscience.
This industry has deliberately plunged the world and the majority of ordinary people into a period of extreme doubts and anxieties over the future of themselves, their children and future generations.
The climate of greed in this industry has undeniably never changed. Whilst the international bankers have absconded with the wealth of nations, their cronies in subsidiary banks, where ordinary people’s financial security is crucial, are now doing the same. These lower level parasites continue to coerce governments into passing legislation, in Ireland’s case, NAMA – (Never Any Money Again).
This is happening across the developed world and allows governments, without the consent of its citizens, to literally tax working people to pay for the illegal and corrupt practices of a criminal cabal responsible for the state of the world today.
This is piracy of the highest order, and the ordinary people paying for this, for generations to come, will be born into a financial bondage to the coming world state which amounts to nothing less than SLAVERY.
We are being financially raped by the banking elite who simply demand that our government pass the very legislation which will condemn the citizens to a future of indentured servitude. We, the taxpayers, will have to cough up our last cent to the parasites of finance to furnish their lavish lifestyles of champagne parties and fancy yachts, whilst we are left struggling to make ends meet.
The government tells us we need to get through this current financial crisis together, by pulling together don’t you know, whilst they maintain their positions of power over us and live the highlife with their banker and building developer buddies. They don’t take responsibility for, or account to the public for, the catastrophe they’ve inflicted on families and businesses in this country. At the same time they try to justify their uselessness and inflated salaries, presumably in line with their inflated egos and ludicrous self belief in their value to society, whilst at the same time maintaining their massive expense accounts and lavish pension arrangements which nobody else in the country is entitled to.
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?