10 Responses to Global debt bomb: Irish banks fall on hard times, may need a second bailout

  1. Humans Eh! says:

    No, Irish Banks are not falling on hard times. Falling on hard times can happen to anyone and can be due to many factors beyond your control. Mismanagement arrogance, cronyism, and continuing greed is the cancer eating away at the Irish banking (fiasco) system. Because all Irish banking debt has been taken on by the ever dwindling pool of middle income Irish tax payers, the banks need not assume any shred of responsibility for their mistakes and continue with huge bonus and pension payments to people who aren’t fit to run a pet shop.
    In a nutshell if the banks make a profit, they keep it. If they make a loss, the taxpayer pays for it, so they literally have nothing to lose. Hopefully the whole sickening house of cards will fall very soon and people are in for a very rude awakening indeed.

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    • tonic says:

      Absolutely agree with every word you said. The house of cards is in the process of falling from what I can see, (worldwide) but then, where does the country go? A repeat of the famine? I hope not.
      Education seeps from this country, and when/if ground zero hits, it might be it’s saviour. (if the greed/arrogance thing is omitted)

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  2. Harold says:

    Negative equity is not a bad unless you sell your property as it hurts the seller and not the bank. This is how the bond market has operated over the last 40 years. If you buy a bond for $100 and the market today is $50, you discount the value to $50 to sell it if you need the cash, but if you hold it until its maturity, or the market swings back the other way, there is no loss. It sounds like the government is promoting the public to walk away from their contracts, and of course; thus has created a problem! Is the government over spending on themselves? They now cry foul and need the money for cash flow because they really need their jobs. You should read the article on the governor of the State of Wisconsin, who took the most, in debt State in the USA, and made it opilent in just three years. There is no need for debt forgiveness!! This just reduces the cash flow the business sector, and the govrnment, of which; they need to survive. Why put the burden back on the tax payer? There is no need! Wake up cry babies! So what will they do? They will, again, give the banks and government free money, of which; are the same fools that created the problem, to go down the same avenue, without implementing cost controls and foolish programs that woould make them solvent. Nope, just give me the money and make sure the public pays the bill. This article is so full of holes it stinks!

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    • Artoro says:

      Harold:

      You are correct in your assertion on the bond issue, but I wouldn’t believe that article on the Wisconsin Governor. I’ve read the articles from outside the state written by those who don’t have a dog in the race. The State of Wisconsin is in trouble like many other states. Apparently Walker hasn’t received his fill and wants to stay on to get more money.

      This guy is in cahoots with the big bankers and the rest that are stealing the money. Unfortunately, we won’t get to see the full effect of his actions for a long time, and then it will be too late. There’s an election in play, and you may well know that the biggest lies are told before the marriage, after the hunt, and during an election campaign.

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  3. luisport says:

    BANK RUNS NOW START IN THE UNITED KINGDOM AS SANTANDER DEPOSITS ARE WITHDRAWN

    Withdrawals at Santander UK amid Spain fears

    Customers with large deposits have started withdrawing cash from Santander, the bank has admitted, as it tried to reassure concerned members of the public that their money is safe.

    By James Hall, and Philip Aldrick
    7:32PM BST 18 May 2012

    The high street bank also saw an increase in enquiries by worried savers to its call centres and in its 1,380 branches across Britain yesterday. Customers are worried that the bank will be dragged into the eurozone crisis because it is owned by Spain’s Banco Santander. http://theunhivedmind.com/wordpress/?p=31881

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  4. luisport says:

    zerohedge‏@zerohedge

    The Mortgage Crisis Hits France Front And Center: Are French Bank Nationalizations Imminent? http://www.zerohedge.com/node/447959

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  5. luisport says:

    FRANKFURT (MarketWatch) — Fitch Ratings on Tuesday downgraded Japan to A+ and issued a negative outlook on the country’s credit rating, citing rising public debt levels. Japan’s long-term foreign rating had stood at AA and its local currency issuer default rating was previously at AA-. “The downgrades and negative outlooks reflect growing risks for Japan’s sovereign credit profile as a result of high and rising public debt ratios,” said Andrew Colquhoun, head of Asia-Pacific sovereigns at Fitch, in a news release “The country’s fiscal consolidation plan looks leisurely relative even to other fiscally-challenged high-income countries, and implementation is subject to political risk,” he said. http://www.marketwatch.com/story/fitch-downgrades-japan-to-a-outlook-negative-2012-05-22-5911734?link=MW_home_latest_news

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