IT:Audit into delays by banks in collecting interest payment
Why didn’t Patrick Neary give this information when he was asked a direct question on it by elected representatives in the Oireachtas on Tuesday Oct 14th? Who does he think he’s bloody well working for?
i will say this information will be kept out of the public arena.
wont want to cause a run on the banks
or make the share price any worse than it is
I actually think the share price is based on people presuming the worst because of the dishonesty of the banks. A bit of transparency would help no end.
I’d have said it was more down to the stupid prices the greedy fuckers are looking for myself.
An the fact that it’s impossible to sell below cost.
the banks are now officially w4ankers - you can be damn sure if I didn’t pay my miniscule credit card bill they’d be slapping late payment charges on me yet the developers get deferred interest repayments - like I said w4nkers.
Eeeeeh . . . . DUH!
Will the report be available under a FOI request?
Probably not I suspect, but can anyone clarify?
100% agree. The banks biggest issue abroad is that no-one believes a word they are saying. Its got to the point where they have lost complete credibility. They continously underestimate the gravity of the situation facing the Global financial markets and facing themselves.
The old “agh sure, we are rolling up the interest payments a bit longer until things stabilise. We don’t need any capital, because the interest we are not receiving (but should be) is not really a bad loan the way we look at things here in Ireland” is just making them look very naive and has shattered alot of peoples confidence in the way these banks are being managed.
So yes, a bit of transparency and waking up to reality would actually be a positive thing. No one has any issue with losses. Its not facing up to them they really scares people away
I think this is also the black hole that any significant equity injection by the Government would immediately be drawn towards.
The banks would get the money & use it to balance writing off that amount of debt from the developers.
The only circumstances under which transparency would be a bad thing would be where the Banks are actually in a worse state than we imagined and that transparency might force the Gubbernment to make good on a good portion that pesky guarantee…
one might refer to that as an icelandic nightmare
Financial Regulator is not subject to FOI.