Anglo managers have impaired loans

rte.ie/business/2009/0609/anglo.html

Should we not now rename this the Anglo money-abuse ring?

See that bit there, thats the tradgedy. If I had an impaired loan with AIB/BOI or even the CU would I be treated the sajme way.

Fck. Haow can the se guys go to work everyday and draw down salaries. Picture the conversation

Loan Officer ; eh, howya Mick. You missed this months payment
Mick : eh, sorry about that. I lost me job.
LO : Eh, no you didnt
Mick well, I took a paycut
LO : no, I was talking to payroll and they said they paid you allright
Mick ; well, the other guys with loans arent payin so i`m not either
LO : Oh, thats cool. The oul taxpayer will get it. See ya at the summer bbq.
Mick : Cant wait.

:imp: :imp: :imp: :imp: :imp:

Blood boiling. I usually walk past anglo on me way home. Think I`ll take a different route this evening. Fumin I AM.

Anglo Irish Loan sharks?

All these years avoiding them and now this…

Weren’t they shown a great example by Seanie himself. Owes Anglo €106m which they can’t get back and he has over €23m on deposit earning him over €600k per year. Just because he has no lien on the loan they can’t offset the two amounts. If he was in the States he would be in jail.

Actually, i`ve rethought this. If an impaired loan is one that I dont have to pay back and no-one comes after me for I am actually gonna pop in to them to see how much i can get. :unamused:

This is what they must have meant by “managing” the balance sheet in that phone call…

:smiley:

Customer: I’m here about the impaired loans.
Receptionist: The what now?
Customer: You know, the impaired loans?..?
For christ’s sake they’re only all over the news, everyone has them.
Receptionist: I think you…have…the…wrong…
Customer: Look, you guys give me a loan, I give you these beans as collateral.
Is any of this ringing a bell?
Receptionist: I’m going to call security.
Customer: Nah! they wouldn’t know about it. Try a senior manager,
ooh ooh or a Director, try a director.
Loan Officer: Is there a problem?
Customer: Finally, a suit. I’m in the market for some impaired loans.
Loan Officer: Well, we don’t normally…
Customer: Oh! mums the word, nudge nudge, wink, wink.
Loan Officer: I think you should leave.
Customer: I have collateral.
Loan Officer: Oh?
Customer: I have magic beans.
Loan Officer: Sir, really. You have to leave.
Customer: Fianna Fail membership card?
Loan Officer: Not worth what it used to be I’m afraid.
Customer: I have this parrot.
Loan Officer: It looks dead…

-Rd

In many banks, not paying your loans back would be a sackable offense.

Actually that’s a very good point.
I’m pretty sure that at least in BofI empoyees are obliged to notify the bank if they are in financial
trouble and I think it can be a sackable offense in certain circumstances.

Hmmmm.

-Rd

I’m pretty sure ordinary AIB staff aren’t even allowed to have an overdraft on their current account.

Or they usen’t be anyway, back in the boring old days when banks were solvent, privately owned, made profits and paid dividends.

independent.ie/business/iris … 67743.html

FWIW I would imagine they would have a tax liability on this also

Update. I asked. They said no.

I`m just not Seanie Fitz loan material you see. I wasnt gonna spend it on property. :unamused:

This infuriates me.

My best friend works in construction insurance.
A few years back he was at a meeting in Anglo.
All the project participants were there except for “Seanie”.
Seanie shows up half an hour late - get this - wearing golf gear, spends 5 minutes at the meeting (he gave the go ahead for financing leaving the minions to handle the details), before heading off for his golf game.

I really think this guy should be behind bars.
Don’t know if this is legal, but if they can’t touch him at the very least the government should target the specific bond of which he took part and renege on it.
At least the taxpayer would get some quid pro quo.

These players are engaged in fraud, deception, abuse of power and to boot endangering the viability of the state. Anglo is the worst kind of Organised Crime Gang and now they have State backing, like I said ORGANIZED CRIME… move along now nothign to see.

Anglo is damaging Ireland’s credit rating and these fuckheads are raping your future.

I can’t express the stroke like invalidity in my brain when I think about these sub-spirits.

Its a terrible thing, but what is required is some Fear of the State.

If we can’t rely upon people in responsible & privileged positions to do the ‘Right Thing’, just because its the right thing, then we need them to do the right thing because they are aware of the awful consequences of not doing it !

Seanie/Bertie et al ought to have done the ‘Right Thing’ because they knew if they fiddled the system them could look forward to having Revenue, the Garda Fraud Squad, the CAB & every other part of the State apparatus crawling up the rectum with a torch looking for any evidence of a crime.

Our credit rating is already damaged, letting Anglo default would damage it further. Let us be clear. Letting Anglo default on its bonds is not a realistic option, except in the minds of the delusional.

Also do you mind toning down the language. This forum is in danger of becoming NSFW.

[Edit] Not * letting Anglo go will probably damage our credit rating further because of the extra debt it is imposing on us. Besides, the Irish Gov and Anglo are not equivalent, just like failed banks in the US haven’t impacted that country’s sovereign rating.

*Edit: Except that of course the State now owns Anglo - maybe I already forgot that because of Anglo’s brazenly fraudulent reports, their CEO’s nonchalance with the Dail committee, and the Gov’s unfathomable support for them!

This article on Finfacts still makes startling reading: Announcement this week of biggest business loss in Irish history

finfacts.ie/irishfinancenews … 6749.shtml

"Brian Lenihan said on The Week in Politics programme on RTÉ television, that the bank’s losses were“somewhat beyond expectations.”

Only somewhat! :imp:

If the Government want to regain any shred of credibility with the general public they must arrest the Anglo crooks and put them behind bars and fast.

Yet.