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PostPosted: Sun Apr 27, 2008 9:38 pm 
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Too Big to Fail

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As Thatcher's economic guru Alan Waters used to say, you can't buck the market.


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PostPosted: Sun Apr 27, 2008 9:39 pm 
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IMF'd

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Panzraam, does the fact that Shane Ross wrote the article not lend it a certain credibility? Considering his article a fortnight ago:
http://www.independent.ie/opinion/colum ... 46192.html
Or do you think he has been taken for a ride and that that is the revenge the 'friends of Anglo' are after? (Sounds like an Agatha Christie novel, if only I could remember which one!).


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PostPosted: Sun Apr 27, 2008 9:42 pm 
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Too Big to Fail

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Also, isn't this a form of market manipulation?

I demand that ISFRA immediately investigate these people.


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PostPosted: Sun Apr 27, 2008 9:43 pm 
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So who's gonna empty their barrel into the lake tomorrow? I'd say there'll be a lot of toe dipping to see how hot things really are.

Image

Definitely one for the big boys.


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PostPosted: Sun Apr 27, 2008 10:35 pm 
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Nationalised
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the edge wrote:
Also, isn't this a form of market manipulation?

I demand that ISFRA immediately investigate these people.


Couln't find anything specific

Insider Dealing and Market Manipulation (Market Abuse)
http://www.entemp.ie/commerce/companyla ... tabuse.htm

Market Abuse (Directive 2003/6/EC) Regulations, 2005 (Market Abuse Regulations)
http://www.financialregulator.ie/frame_ ... in_nav.asp

Though it may hark back to an earlier scandal

Guinness share-trading fraud
http://en.wikipedia.org/wiki/Guinness_s ... ding_fraud

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PostPosted: Sun Apr 27, 2008 10:38 pm 
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Green Bear wrote:

That reminds me, I must give Ernest Saunders a ring and see what his cure for Alzheimer's was and chide him for not releasing it to the public. Some people are scum and it only become apparent when they don't take their lumps. (Hey, provost, that's probably libel).


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PostPosted: Mon Apr 28, 2008 10:01 am 
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Of Systemic Importance
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Quote:
Last night one member told the Sunday Independent: "We are going to teach the brokers and hedge funds that damaged the bank a salutary lesson. It is our bank, it has an entrepreneurial culture. They will come out of this with their fingers burned."



Oh! come on.
OW getting his April fools in a few days early is one thing, but sneaking one in just before the end of April is out of order.

1) They didn't get wealthy enough to do this by being stupid enough to try it.

2) If they were going to do it they wouldn't be stupid enough to announce it.

The only logical explaination is that they are hoping to scare some of the short sellers into closing out their positions with the threat of a big buy, but without the really risky step of actually buying in.

If they seriously want to try and support the Anglo Share price by ploughing money (they don't have) into it then they need to have a chat with Norman Lamont.

This is Alamo territory. A couple of rich guys hoping to remain solvent longer than the market can remain irrational.

It's all talk, a big game of credability chicken.

-Rd

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PostPosted: Mon Apr 28, 2008 10:11 am 
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daltonr wrote:
A couple of rich guys hoping to remain solvent longer than the market can remain irrational.

They wish - the market is being rational by pricing anglo down.

Things will get very interesting if / when the builders bank actually ends up owned by the builders.


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PostPosted: Mon Apr 28, 2008 10:16 am 
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Quote:
Things will get very interesting if / when the builders bank actually ends up owned by the builders.


Surely it'll be similar to Pilots buying a chunk of Aer Lingus. Let's not fart about investing our money in a diversified portfolio for 30 years. Let's lose as much as we can now.

Oooh! Oooh!, If we borrow we can lose even more!!!!

-Rd

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PostPosted: Mon Apr 28, 2008 4:13 pm 
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Fortune favours the brave!


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