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Posts tagged ‘Irish Life and Permanent’

Tip of the Day Get you money out now from AIB and Bank of Ireland!

European Central Bank president Mario Draghi has raised concerns about the health of Irish banks, urging “decisive” action on issues revealed by a recent balance-sheet assessments before European stress tests next year.

Addressing the European Parliament, Mr Draghi said while the balance-sheet assessments of the Irish banks had identified no capital shortfall, there were needs for adjustments for provisions and risk-weighted assets.

“This should be addressed before the SSM assessment,” he said in a response to a question from Irish MEP Gay Mitchell.

Under the original terms of Ireland’s EU-IMF rescue, Ireland was obliged to undergo a full health check of its banks before the end of the programme.
Stress tests However, this was downgraded to a “balance-sheet assessment” after Dublin argued it should not be treated differently from other countries in next year’s Europe-wide stress tests.

Mr Draghi emphasised yesterday that the balance-sheet assessments by the Irish Central Bank were “not forward-looking” and fall short of the “stringent” stress tests that would be required next year.

Ireland’s three main banks – Bank of Ireland, AIB and Permanent TSB – informed the market last month the Central Bank tests had been completed and that no capital requirements had been required.

However, the full results of the tests were not published.
Commercial loans Bank of Ireland revealed that the Central Bank had concluded that it should take an additional €1.3 billion in provisioning against its mortgage and commercial loans, while Permanent TSB chief executive Jeremy Masding told The Irish Times that the bank would be taking extra provisions for bad loans following the reviews. AIB has yet to comment on whether provisions are needed.

Mr Draghi also said the ECB had “a more cautious assessment” of Ireland’s budget for 2014 even if targets were likely to be met. However, he noted that the deficit-to-GDP ratio, which has been credibly set at 4.8 per cent, overperforms relative to the requirement of 5.1 per cent set out in the European Commission’s excessive deficit procedure.

source: http://www.irishtimes.com/business/sectors/financial-services/draghi-expresses-concern-about-health-of-irish-banks-1.1629952

see also related news: http://www.zerohedge.com/news/2013-04-29/728-trillion-presenting-bank-biggest-derivative-exposure-world-hint-not-jpmorgan




The hidden and off the books derivatives losses by the Irish banks are now becoming so large that even Draghi and his associates are heading for cover ! Once the Irish banks are forced to acknowledge these losses we can expect a cascade effect throughout Europe and all this will land at the door of Deutsche Bank with its $72.8 Trillion derivatives exposures. Still Draghi knows with 156 billion on deposit in Irish banks they can plunder at least 35% of this FREE Cash from the Gullible Irish depositors!

Tip of the Day Get you money out now from AIB and Bank of Ireland!

To all the children of Eire “We are being raped slowly and repeatedly”

By Thomás O Cléirigh

Fellow countrymen and woman we are being raped slowly and repeatedly and we are being held down by our own corrupt puppet politicians!

For the past four years I have been forced to pay subprime interest rates on my mortgage(6%) even though I have never failed to pay my mortgage “Ever” I have always had at least 3 months payments in advance my account. I am one of 80,000 customers of the Permanent TSB who are been forced to pay this penal interest rate to this corrupt and toxic bank stuffed full of gangsters! As a variable rate mortgage customer I am been forced to pay the gambling debts of this corrupt financial institution. Kenny and his co-Gombeens in Leinster house are as far as I am concerned ,they are just as corrupt and are lying Basta**s who should be taken out and Shot for their participation in the financial enslavement  of the Irish Nation.

We the Irish people collectively,  are been forced to service odious debt that are helping to keep  faceless gambling  bondholders in business ! These hidden money men are destroying our communities, they are enslaving our children and are robbing our countries natural resources and the current government are colluding with this hidden enemy! The time has come for all true patriots to come together and form “The resistance” We have no choice now but to take any and all action! The time for waffle is well past as every day more and more of our country is been stolen to enrich the Insider elite who have bought their way into the Dail. Ireland get up off your knees and stand up and fight back against the infested Dail and the hidden money men who are sucking us all dry!We must default ,we must send these leaches packing now!

Is Ireland in line for €100bn refund after ECB changes stance on bondholders?

By Namawinelake

In the immortal words of Ray Burke commenting on a chance of a receipt for an alleged bung, “is it f*ck” but as fantastical as it may seem, it might be the logical conclusion of taking account of the sums paid to senior bondholders in the bailed-out banks together with the comments ascribed to ECB president Mario Draghi in the Wall Street Journal yesterday.

In April 2012, Minister for Finance Michael Noonan in response to a question from the Fianna Fail finance spokesperson Michael McGrath confirmed that between 30th September 2008 when the bank guarantee was introduced and April 2012, a total of €103.7bn has been paid to senior bondholders in the state-guaranteed banks, comprising €33.1bn to “secured” bondholders and €70.6bn to “unsecured” bondholders. And analysed by bank – €32.5bn was paid by AIB/EBS, €35.7bn was paid by Bank of Ireland, €10bn was paid by Irish Life and Permanent and €25.5bn was paid by IBRC.  To date, the State has injected €64.1bn into these four banks and in addition, NAMA has paid €5.6bn in state aid for the acquisition of loans, which represents a premium over what the loans were worth on the open market.

full article at source: http://namawinelake.wordpress.com/2012/07/16/is-ireland-in-line-for-e100bn-refund-after-ecb-changes-stance-on-bondholders/

Homeowners vent anger at PTSB’s ‘moral bankruptcy’

ANGER, frustration and utter despair. Those were the feelings amongst outraged Permanent TSB (PTSB) mortgage holders who gave the bank’s bosses a roasting at the annual general meeting yesterday.

Describing the bank as “morally bankrupt“, they lambasted management for their “extortionate” interest rates and described the hardship inflicted on their families as a result of the high charges.

The first 20 minutes of the AGM were dominated by tale after tale from put-upon mortgage holders, who described themselves as “prisoners” of the bank and urged fellow customers to pull their savings out of the “morally bankrupt” institution.

Chairman Alan Cook said he’d invited them to air their grievances at the start of the meeting

full article at source: http://www.independent.ie/business/personal-finance/property-mortgages/homeowners-vent-anger-at-ptsbs-moral-bankruptcy-3116958.html


Too little too late

Whilst I applaud the homeowners for going to the AGM I am disappointed that they did not take up my call to demonstrate outside the PTSB over 3 years ago when these gangsters started to squeeze their own customers (Mortgage holders) I set up a facebook group to try and put pressure on these crooks and to force the then CEO to resign but we only got about 12 people to supported the initiative. At the time thought the Mortgage holders are not hurting enough and it will be years before they get themselves organized .I decided to just refinance my mortgage and take my business elsewhere. Lucky for me I was able to do this; the current government is allowing this blatant robbery of citizens by this toxic and corrupt financial deadbeat .Let me again call on all the mortgage holders to unite and force these gangsters to not only reduce their outrageous interest rates but also to reimburse their customers in full .

The Homeowners Consumer Center Now Urges Any Homeowner in New Jersey Paying More Than 5% To Refinance Now With American Interbanc Because Rates Really Have Hit New Lows (prweb.com)

I’m Back

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Just arrived back in Ireland and I am already so depressed I want to go straight back even though it rained all day every day I was there, I had some disappointments but Germany is still, let’s face it “Booming” .The crappie presidential election posters remind me of
posters in the spaghetti westerns of the seventies depicting the corrupt president of Mexico . Remember the western with James Coburn and Rod Steriger (see below). Jesus how depressing! They all seem to be grinning down at us the hapless citizens of this Be-NAMA bondholder state!

Germany is booming and I am seriously considering packing a bag and heading off, just up sticks and leave everything here. I am just tired trying to stir up the public. I feel this whole blog effort is suiting the powers as long as we all sit at our PC and bitch they can continue to do their own thing. The ordinary citizens of Ireland are just sitting back and letting the codgers in the Dail suck us dry. Promised change has not materialised and in fact it is just more of the same .Jobs for the well-connected .The Banks are squeezing the variable rate mortgage holders for every last cent and the gutless politicians are just washing their hands like Pilate all of the countries variable rate mortgage holders are all now “subprime mortgage holders “and no one has even stood up and done something about it.

I called for a boycott of the Irish Permanent and got nowhere .What more can one do ? Just now I got a call from a friend who lives out in the country telling me that a new tax is been considered for the sceptic tank and they are facing a tax on their own water well as well .

Enda Kenny comes back from Europe and tell the nation we could be the first of the bailout bums to get back our independence .I say shame on you Kenny you should have told them in Europe to get stuffed! You are supposed to be fighting for the citizens of Ireland and if you had any balls you would declare Ireland’s independents from the banker imposed dictatorship .For God sake Ireland wake up and fight back !

The cost to the Irish taxpayer



Photo Machholz

 What the bailout is costing Irish taxpayers

Anglo  – €29.3 billion (including €22.9 already committed by Government) – could go to €34.3bn in severe worst-case

AIB  – up to €6.5 billion (including €3.5 billion already invested by Government) A Basket case

BoI  – €3.5 billion (doesn’t need any more capital from Government)(So it says but can you belive them  I don’t!)

INBS  – €5.4 billion (including €2.7 billion already committed by Government) why is there no prosecutions for this fraud?

EBS  – €350 million (further requirement for €440 million and possibly more which is expected to come from its new buyer)

can anyone belive any buyer will stump up this kind of cash now?

Irish Life & Permanent  – doesn’t need any capital; didn’t engage in property development lending

No ,just helped Anglo Irish Bank to defraud its own investors and customers and Irish Life& permanent is now screwing its own customers now  

Total:  €45 billion – could go to €50 billion in Anglo severe stress case

Of this, some €35 billion of this is debt and is unlikely to be recovered – the €6.5 billion to be invested into AIB and €3.5 billion already invested into Bank of Ireland is regarded as an investment by the National Pension Reserve Fund, the €24 billion sovereign wealth fund held by the Government. The State is likely to make this €10 billion back and could make a profit by selling down the shares over time.

The figures relate to the State’s investments in the banks. AIB’s capital requirement is €10.4 billion of which it has raised €2.5 billion from the sale of its stake in Poland’s Bank Zachodni WBK, leaving €7.9 billion to raise – some of that will come from the sale of the 22.5 per cent stake in US bank M&T, the sale of its UK business and further (possible) investment from existing shareholders and institutional investors. The Government will underwrite the sale of new shares.

source http://www.irishtimes.com/newspaper/breaking/2010/0930/breaking37.html?via=rel

What about the dierivitave  losses that the Banks are hiding Bank of Ireland and Allied Irish Bank ?


We need jailtime not just a bailout !

For the likes of Patrick Neary the former financial regulator , Brian Cowen former Finance Minster Brian Lenihan current Finance Minster,The Board of directors of Anglo Irish Bank ,Allied Irish Bank ,Bank of Ireland , Irish Life and permanent and the board of Irish nationwide building society
The board of directors of NAMA, and not to forget the Auditors responsible for the above mentioned establishments
The current Government should also be found a place on spike Island along with their Buddies the building developers who helped to bring misery to countless thousands of Irish homeowners

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
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.

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