UK Banks bailout of Irish units costs more than Afgan War

bloomberg.com/apps/news?pid= … o7BIxdjs_Y

Ouch!

Many Irish Taxpayers find it hard to understand why they’ll be bailing out bad investments in the UK…
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And France, Spain, Portugal, Italy, Germany, Bulgaria, Cyprus, Greece, Malta, Latvia, Lithuania, Poland, More of Bulgaria, Russia, India, China, the US, Mars,… okay I made the last one up.

Maybe not Mars but I’d fancy some Irish gobshite has bought something on the Moon that will need to be moved to Nama :smiley:

What I find hard to understand about this particular argument is why was 2.6 billion pounds spent on an Afghan war at all. At least with the Irish bubble people weren’t murdered.

it’s just a number for numerically illiterate types to get their head around it

they might as well have said “than was spent on burgers and chips in the whole of 2008”

War, folly…

Hey I’m with you, I wish murdering people wasn’t so bloody expensive but what can you do? Take depleted uranium rounds; you’d be amazed how many of those puppies you can go through while strafing a village.

Thanks to Gordon Brown, fair play !

bloomberg.com/apps/news?pid= … WHew1SU3G0

They have partitioned off some stuff like Sean Dunnes into a pseudo bad bank already!

Yeah but Seán Dunne didn’t kill nobody so that is hardly a fair analogy is it .

There is quite a bit more !!!

Your looking at it the wrong way :smiley: they managed to blow that much money without killing anyone!

This is the perfect war.

This is just silly. When a business is in trouble, be it a bank or a factory, all branches are naturally going to be affected whether those branches are in the home country or abroad. That’s business. I don’t think the UK headquarters of RBS were complaining when the profits from Irish branches were rolling in during our boom years.

British taxpayers have every right to be angry (just like we are over Anglo Irish & NAMA) but it’s an issue they must address with their government.

Apart from Mark Duffy’s golden handshake earlier this year, nobody at the top of these has suffered as a result of these losses and failure. At least the ‘Irish’ banks have had token resignations following failure, Goggin, Sheedy, Sean Fitzpatrick, Drumm, Casey at IL&P etc.

Well Brian, they played a significant part in ramping Irish property and land prices in recent years. The first to introduce 100% mortgages :angry: , and often AIB and BOI were lowballed by incredibily thin margins on deals by operators like this with large global sugar daddy’s. An underpricing of risk that we’re all paying for now.

Much like Ford discovered in the early 60s when they couldn’t figure out how Austin could sell their new mini car at such a low price. Ford bought a mini and stripped it down to it’s knickers. They eventually hit on it - Austin were selling every one at a loss. XX

LOL . RBS were the 00’s incarnation of the British Motor Corporation , more on how the Mini nearly bankrupted Britain Here

And nearly 50 years later the exchequer learnt what BMC learnt when it was nationalised in 1975 and became British Leyland .

Mind you RBS managed the inevitable much quicker than BMC did !!

Plus ca change , wot wot !!!

independent.ie/business/iris … 18271.html

I think the point here is that if that’s what the brits have had to do that the implications for Ireland and us who have backed the irish banks are is flippin astronomical.