# Anglo's results- As ugly as you can get (Or Not!!)



## Sunny (29 May 2009)

[broken link removed]

They are talking about this draft business plan that they have to present. For the life of me, I can't see what possible future Anglo has as a commercial stand alone business. Anyone got any ideas what they could decide?


----------



## VOR (29 May 2009)

*Re: Anglos results- As ugly as you can get (Or Not!!)*

Lenihan has said this morning that a further €4bn is needed. Impairments will reach €7.5bn by 2011. 
More worringly, if land and asset values decline by a further 10%, this will increase by a further €1.5bn. This is a certainty in my opinion. 

I agree completely with Sunny. The businesses should be wound up as a matter of urgency.


----------



## onq (29 May 2009)

*Re: Anglos results- As ugly as you can get (Or Not!!)*

I agree.
I saw no reason to prop up this failed institution, guarantee its loans or preserve its "credibility".
Whatever about my earlier post saying we should have let all the banks go to the wall, start a good bank and offer to take over certain accounts, Anglo certainly shoiuld have gone - far too ill to save and now the electorate have to face the debts it ran up and not one of its directors prosecuted and stripped of his assets over this.


----------



## UptheDeise (29 May 2009)

*Re: Anglos results- As ugly as you can get (Or Not!!)*

I said this before but I'm going to say this again. They should have let the banks go to the wall and start new banks afresh from the ground up.

If this is what is happening to Anglo what about AIB and BoI?


----------



## onq (29 May 2009)

Well I said exactly the sme thing to some of the door-to-door boys and girls looking for votes - the Green fellah said it was all about "protecting Ireland's banks from being taken over by outside interests" - like who? And then he said it was about "protecting the Irish Bank's credibility abroad" - what credibility? Something stinks to high heaven about all this, and we'll be looking back in five years saying - "so that's what all this was to distract us from."


----------



## pudds (29 May 2009)

*Re: Anglos results- As ugly as you can get (Or Not!!)*



UptheDeise said:


> I said this before but I'm going to say this again. They should have let the banks go to the wall and start new banks afresh from the ground up.
> 
> If this is what is happening to Anglo what about AIB and BoI?



It makes one wonder how deeply are a lot of polilticians peersonally involved in ownership or otherwise of assets that the bank has.  

They should wind it up before ever putting another penney in, but they won't.


----------



## onq (30 May 2009)

That's what we'll be paying on the guarantee debt in years to come.

The National "interest"...


----------



## Mumha (31 May 2009)

Did we ever find out who the Golden 10 were ?


----------



## onq (6 Jun 2009)

I think there is always a rumour about golden groups.

Its whoever is sharing the spoils of multiple directorships and preferential treatment at the time.

It changes every decade and with whoever is in power.


----------

