Anglo Irish not getting hammered!!

Can anyone explain why Anglo Irish Bank is not down like the rest of the banks in Ireland US and UK? They only dropped about 4%!! AIB and BOI are down about 14%.

Probably because their dividend is less than BOI or AIB and BOI just cut their dividend in half

The revenge fund is alive and well.

Did such a fund get formed? It sounded like awhole lot of hot air to me.

Wonder if Quinn see these as a strong buy? Someone posted that the Regulator weren’t allowed in for a nosey recently. Anyone know if the Regulator ever got to look at their books? Is there any way to make sure that Quinndirect isn’t using their funds to prop up their owner’s other interests?

Also, was it ever estabished that Anglo gave Quinn a loan to buy anglo shares? If so, how much and what were the terms?

AI arranged a meeting with the CB this afternoon.

Did they? For what purpose? If they are in difficulty, then thier shareholders are not aware.

How do you know they me the Central bank today?

Contact in CB told me. No idea I’m afraid as to the reason for the meeting.

…it was suggested by a banker friend of mine that they may have put themselves up for sale

they can’t sell what they don’t own. Raising capital via a share issue is an option. Probably just a regular meeting, unless they’ve discovered something toxic on their investments. Future problems on their loan book should be slower to emerge. I think their funding relies heavily on a small number of big depositors, but they have access to ecb facilities if needed.

Though i can’t see any reason for their shares relatively good day. If anything boi’s comment on land banks should have hurt them more.

It’s valued at 20% of peak prices. I would consider that has being hammered.

CaveCanem - em, that was me who posted that scoop :nin

Yes, it is true and the dogs in the streets know the story. Pretty much the entire insurance community here and in the UK learned of that situation a few weeks ago. Verified from sources within the Quinn empire :angry:

nwipp-newspapers.com/FH/free … 646617.php

Really? What do they export?

Ah, he meant to say they consume a lot of the national economic product. Times must be hard for both the shinners and Quinners if they are cosying up to each other.

If Quinn goes down, he won’t be going down quietly.

Good scoop. Does the regulator not have the power to force their way in? Or more precisely to ensure their claims paying ability? This would include checking what they’ve invested in.

Pintwatch - you’re not suggesting SF delivered an actual hammering.

No. I just found the article astonishing, as if Quinn was always at the back of the queue when it came to government grants. First google search produces…

news.bbc.co.uk/1/hi/northern_ireland/2888731.stm

Edit - And have a read of paragraph 3.2 here

competition-commission.org.u … dfearn.pdf

Again Anglo Irish Bank defies gravity!! The other banks are down but Anglo is flat to up - amazing.