I just assumed, cos he was talking about phone trades in the case above. I wonder are they different products or services.
Hate the phone.
Just walk into an AIB branch with youre passport and another form of identification and they can buy any share you like not just in Ireland but in europe as well (and I assume The US, japan etc) as they own Goodbodys stockbrokers. I always buy my shares this way.
Looks Like Anglo are Finished
I think they are finished as an independent entity at any rate.Originally Posted by Reality Bites
All eggs in one basket, as opposed to the other Irish banks who only had too many eggs in the one basket.
Loving the Governments re-capitalisation "plan". To say its light on detail is an understatement. They clearly had to rush it out over the weekend because of Anglo's share collapse last week.
This Government has been absolutely reactive to every facet of the "financial crisis". 9 months in denial and then 3 months of trying to play catch-up. Shocking stuff.
Also, still waiting for one prominent head to roll in the banking industry....staggering.
Ireland doesn't do accountability...
What then happen to Anglos Debts to Property Developers- are they submerged into which ever Bank takes them over.. or are the property developers declared insolvent?? also what of the Anglo staff are they out on their bums and more importantly do Drumm and the other Head boys get the gate also ...
Other way around, the developers owe the banks!
Loans would be transferred to whoever the acquirer is. Fairly standard stuff.
I wouldn't focus as much on Anglo, ALL the banks are likely to shed large numbers of staff. Most have had hiring bans in place for over 6 months so natural attrition is already reducing numbers and I would say that large scale cutbacks (wholesale closures of services lines, locations, products etc.) will begin in the New Year in all the big institutions.
Put simply, they are all resourced for a level of business that won't be coming back for a while (or ever in the case of some structured products).
I'd better write for trials to some clubs so...am I past it at 35?
Join the club!
I think recruitment bans have been in place closer to a year. Natural attrition has probably run its effectiveness. Now that unemployment figures are growing rapidly and well published, less people are leaving their jobs. This article says BOI and AIB had shed about 600 jobs each since the start of the year: http://www.finfacts.ie/irishfinancen..._1015258.shtml . No doubt the figure is larger now but I don't think it's anywhere near the level that will be desired soon and that's without the probable mergers/consolidation.
What do you expect when the people who were charged with regulating the sector are now leading the "solution".
Seems the government has put aside 10 billion & has told the banks to let them know when they need it. The leaders of the banks don't want mergers or government involvement in their affairs as they may lose their own jobs.
Bump.
Bank of Ireland down to 30p a share, AIB down to 43p.
If the OP had gone on his hunch, his money would be more than halved by now. It can't do that again. Can it?
Of course it can!
Paddy Power are offering odds of 1-3 (iirc) that Anglo shareholders will get nothing.
Investors have taken this on board, assessed whether they think BoI and AIB will get nationalised and what they will get out of a nationalisation.
And sold.
excuse my ignorance but outside of shares, people who have accounts with boi, if it does fall as mentioned, is that money safe?
Somebody with money in the bank? Thats a rarity!
I think what most of us really want to know is - will our loan repayment commitments disappear with the demise of the bank?
LTID
a recession is great for the gardai!!
that would be great wouldnt it? bank goes under and all of a sudden the mortgage goes out the window.
i cant imagine that would be the case though would it?
Technically every cent of all deposits are guaranteed by our government, whether they could actually afford to pay up on that guarantee is a different story. The activities at Anglo, scandals and nationalisation, have further shaken confidence abroad in the entire Irish banking system which is being reflected in the big two's share price. I'm sure bad debts are going to take its toll on BOI but they still have a strong deposit base and retail network. Unlike Anglo, AIB and BOI actually provide a service to this country in terms of basic activities like bill paying, cheque encashment, money transmission etc. The strategy of the big two will be cost reduction and deleveraging. Combined with government recapitalisation this will hopefully stabilise them, although there are continuing painful times ahead even in this event.
In a word, no
thought as much, was a nice thought while it lasted though
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