Was this type of thing not big news around 10 years or so ago?
A dozen years ago you could be forgiven for believing that banks were blue chip investments. Today it’s your own lookout if you choose to visit that particular casino.
It’s taken a very long time but at last someone in the Irish media is looking at the State’s loss on its bank shares.
Almost €6,000 Million wiped out in the past year. The NTMA told the government to sell a year ago but not one bank share has been sold by the State as their value dropped into the toilet.
That’s double the cost of rural broadband lost due to inaction .
AIB Group Plc. has slumped 36%, making it the worst performer in the Euro Stoxx Banks Index since the end of June,
How come the Irish media are not reporting this? They were slow to acknowledge the slump in Irish bank shares and none of them have analyzed the implications.