Lenihan open to idea of Anglo wind-down

Report carried by Breakingnews.ie, 28th April 2010


](Lenihan open to idea of Anglo wind-down)

Matt Cooper on Today FM this evening as said he’s hearing that last weekend “Europe” told the government that it may not put any more money into Anglo, and that may be the reason why they are changing their public tune.

Blue Horseshoe

Did people complain to the EU Commission about Anglo being bailed out?

Nah, they caught the bang of shite off of it when the Government lobbed the last 4 billion in and launched the technical investigation… Thank God for the small minded bureaucrats of the European Commission… They get there late unfortunately but you can’t slide this shite by them…

Most certainly. and they supplied the bureaucrats with the necessary information on where to look and what to look at.

Lobbying the EU is one of the more effective ways of undermining the shenanigans of our lot. And if you’re fluent in German, writing letters to the editors of major German dailies, warning German citizens that after they’ve bailed out Greece we have some lovely news for them, would not be a waste of energy either.

I believe the military term is a “flanking manoeuver”

Thank God for Europe!!

I bet this is because of the Eurostat decision. Keeping Anglo open no longer serves any purpose.

Lenny can fuck right off with his “open to the idea”. He’s been busy telling us how much it would cost to close.

Got it in one DS. The whole keep Anglo open was for the argument " It’s not dead money, its an investment". Now that Eurostat have called bollix it doesn’t matter.

By the way DS try lifting the lid off the toilet…Just saying is all.

Nah, Eurostat is the symptom - the cat screeching out of the bag. The decision was made before that, probably shortly after the 8 or so billion was secretly put into Anglo before Christmas.

I hate to say I told you so, but there you go. Actually, I don’t hate to say it! The multiple iterations of the Anglo business plan have been increasingly desperate attempts to salvage political face. The latest good/bad bank plan is a wind-down - the good bank is an attempt to sell off the remaining decent bits of Anglo (of which there are few). It is effectively a liquidation sale, except you can’t easily liquidate a bank with a 190 bn euro derivates book stretching into the future quickly. Hence the 2 bn a year for the next ten years, or whatever it is.

The question now is who revived the Maire Geoghan-Quinn pension controversy at this precise moment? It was known about and raised at the time she was given the appointment. It resurfaced again last week for a reason.

Yep the whole pension thing swallowed up the real issues, Greece and this. I’m allergic to the Main Stream Media at this stage.

No Anglo bailout = no Quinn bailout, surely?

Absolutely, no way I’m bailing Maire out :-GC

So we’ll get our 4 bill back will we?

4 Bill ? lot more than that gone and more to go down the Anglo toilet… bye …bye…

watch lenihan and co stating “oceania has always been at war with eastasia” and the MSM swallowing it hook line and sinker

How much political capital do Lenny & Co have tied up in Anglo?

Talking of main stream media, Eamon Keane on newstalk Monday got it out there on his show that the pension bolloxology is a spin against bigger stories such as Nama, Anglo, the deficit etc. It somehow helps in a way to fight against the state news agency TAS and their news at one.

McWilliams was on this evening with Matt Cooper re: Anglo and the EU. All good stuff, and these guys have shown consistency all the way back 10 years or more, arguing some, not all, of the arguements on this forum.

Well done to them. It turns out it does take an EU/ECB with a vested interest in it’s own survival to protect the ordinary Irish taxpayer from the politcians they collectively elected.

Yeah, man… uh, sorry. My mind was elsewhere.

More on this
independent.ie/business/iris … 59097.html

this for a bank with liabilities of less than 100b…

Mark to model… she’s a model and she’s looking, eh, like a derivative raddled old hag. Guess the botox and silicone have started to slip…

jmc’s CDO IRS speculation is starting to look uncomfortably realistic.