Austin no more?

I have just had a letter from my Mortgage bank IIB.

Apparently they are canging the name to KBC Bank Ireland PLC

And KBC Homeloans

Edward A Marah,
Chief Exec.

As KBC is the parent group, will Austin be “surplus to requirements?”

I hereby apply for the position of Chief Interest Rate Cut Forecaster at KBC Bank.

You can call me anytime, day or night, and I will give you my most up to date forecast on how much the ECB will slash interest rates by over the coming months. I also don’t have a beard, although I could probably stick one on or something, if it is a requirement.

I wonder has Austin assisted in damaging the brand name to such an extent that they have to change the name? IIB are mud with mortgage brokers and of course their name is prominent in the repossession stakes that are getting a load of bad media attention.

Perhaps they are making the necessary arrangements to join the public assistance scheme aka the Credit Institutions Financial Support scheme(C.I.F.S) ? :angry:

Subprime in Ireland - presenting IIB homeloans … &paraID=75

                   Standard & Poor	    Moody's
	         Long-term	Short-term	Long term	Short term
KBC Bank NV	AA-	A1+	              Aa2	    P1
IIB Bank	    A+	A1	                A1	    P1

Do A ratings mean anything these days…

Unfortunately Austin is not no more. Got this email this morning

CPD credit for listening to his ramblings? Sad state of affairs.

Unfortunately due to time constraints, Austin will not be focussing on how he spent much of the last decade up to his bollix evangalising the biggest speculative credit fueled asset bubble ever to hit Ireland, whose current bursting (which he also didn’t predict since he never recognised that a bubble existed in the first place) is threatening to destroy the Irish economy for years hence.

But he will be predicting lots of cuts in interest rates. He might even hint that the property market is nearing the bottom, although he never admitted that it was at a top, and spent about two years publicly denying that it was falling apart at the seams, even though he knew full well that it was.

And there will be tea and biscuits.