IL&P shares dive on credit warning

Good thing this is only a blip :slight_smile:

I hope the rogue solicitor had the presence of mind to take all the money he borrowed and short the banks he borrowed from.

But I doubt he did.

-Rd

There’s an interesting question (or maybe not)

Would that technically be insider trading?

Yeah, sure I read that Irish Nationwide are going to postpone any sale until the credit crunch is over - like as it its a bad downpour of rain soon to end

Ah, sure the banks will start lending again in the summer when the Irish construction boom takes off again as if nothing had happenedd!

Folks, I have a question about Irish Nationwide. If I open an account (15K+) with them would I be eligible for a share in the company when it is sold. I hear the share holders of note could be due about 10K each. Does anyone know when the record of note is taken from, is the date set or is it a date a certain lenght of time before the sale date.
Also on the money show yesterday morning they mentioned that if you had at least €125 in EBS and if they sold in the future that you would be eligible for a share in the sale. Anyone know why €125 is chosen as it seems very low compared to Nationwide (I’m aware that EBS have no intention to demutualise).

Anyone know anything on this topic.
Cheers.

You need at least 20k in Irish Nationwide before you get a “Share Account”. Even then you need to have had it for 2 years before they announce a sale/demutualisation for you to get any money. Hence I’m hoping they don’t sell for another while :wink:

Cheers Whizbang,
Best of luck with the venture. Sounds like a good place to rest your deposit.

FB

My first thoughts were “These people are natural Lottery Gamblers”.

Then, the uncontrolled brain starts thinking. Warning: what follows could be waters inhabited by Liberal Thinking Person Eating Sharks! The Irish Nationwide could shortly be the only bank left standing in Ireland. They after all, are known as the Builder’s Bank. Who has all the money generated by the Celtic Tiger? I take it that they will support their own! Yea! Like the Bankers trust for one another. I think that I will stop there!

The 20k deposit is 90% insured- where’s the massive gamble?

You’re going a bit overboard on the conspiracy theories WTTR, there is no banking trust when the shit hits the fan - it’s every bank for themselves in that situation, unless bank A can drag bank B down with it. Look at the US - the super-SIV which was supposed to save the day was a damp squib, with the result that Citi have had to take $49b back onto their balance sheet.

Re INBS, the 10k payout was predicated on a sale price of €1-1.5 billion - I can’t see that happening now.