Anglo won't be paying back the state. The problem is( like you said) it will happen again. The Fat Cats are acting like it never happened and who will bail them out the next time. Catch me once shame on you ect...... But we could argue that point till the cows come home. I'm hoping for 33 or 34 in run up to results but there could be a bit of a dip once we hit 31.
We did the right thing in bailing out Anglo, international reputation is very important. One will not always those who pay one, but one will always remember those that that fail to repay what they receive on loan.
To be honest I am proud that we as a small nation stood up and faced our mistakes and repaid out debts.
the controls and people that failed us such as politicians, Governor of the Central Bank and the Financial Regulator are a very different story and as of yet we have not even attempted to place control on their offices so that they will do the right thing.
Anyway son, human nature and greed being what they are, what got us into this mess that we are now pulling out of will happen again and again and .........
On another note the point about the banks repaying the Irish State is a good one and I am realistically optimistic that this will happen.
Out side of all that we are all here together and we will now get a good run up to the results and who knows we might see 40c soon as the market will now begin to price in the improved prospects that are becoming apparent.
25 Billion is less than 10% of our national debt. We should never have bailed out ANGLO. But the people making our financial decisions had to much money invested in it to let it fail. BOI & AIB are the peoples banks and needed to be bailed out by the people. But the big boys blanket bailout covered there asses.
,,nikkei is up. 318 points almost 2 %. tonight ...that other side of the world..regarding Irelands govt debt...if aib and boi returned 25billion €. it would substantially reduced debt....these 2 banks hold the key to substantial debt reduction...for Ireland...
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