Media Financial Reportings on Banks

[dewdrop]

Over past few months the reports from BBC and RTE on various Bank problems and issues seem to highlight very similar issues so bankit is not an Irish bank problem alone. In view of Lloyds experience in quickly getting into bed with HBOS resulting in hugh losses I feel a little little credit is due to AIB and B of I that they did not do likewise with Anglo despite much pressure from the financial pundits

 

[DerKaiser]

All credit to both organisations for losing 98% of their shareholder's investments through poor risk management

 

[rabbit]

All credit to both organisations for losing 98% of their shareholder's investments through poor risk management

I agree. We were taught at school that the Banks ( AIB + B of I ) were the blue chip shares.
Many a person found out the hard way in the 80's, 90's etc that money on deposit in those institutions did not even keep up with inflation. Many a small person worked hard and long hours + tried to make provision for their old age / rain day by buying some bank shares say 2, 3, 4 years ago. Now those share are nearly worthless.
Now we see the head of B of I saying he will get 2 million this year...

 

[NOAH]

Beware of silence ...... ala AIB wait for the next big event - a smokescreen . Then watch out.

The words in banking that spring to mind are "DISCLOSED INCOME"

noah

 

[dewdrop]

I associate DISCLOSED INCOME with Bank of Ireland ?

 

[NOAH]

and our brave reporter missed a scoop of all time "" Well could you expand on the undislcosed element?""

noah

 

[jasconius]

Over past few months the reports from BBC and RTE on various Bank problems and issues seem to highlight very similar issues so bankit is not an Irish bank problem alone. In view of Lloyds experience in quickly getting into bed with HBOS resulting in hugh losses I feel a little little credit is due to AIB and B of I that they did not do likewise with Anglo despite much pressure from the financial pundits

All credit due to AIB for losing €650mill by having poor management over a rogue trader ?

All credit due to both BOI and AIB for systematic overcharging customers for fees and related charges ?

Banks were described today in the UK media as financial terrorists - harsh words maybe - but that is the way people feel, especially in their cosy clubs of regulatory authorities and department mandarins.

 

[NOAH]

WAHT DID I SAY ABOUT "AIB"

watch this space.

noah

 

[Sunny]

Over past few months the reports from BBC and RTE on various Bank problems and issues seem to highlight very similar issues so bankit is not an Irish bank problem alone. In view of Lloyds experience in quickly getting into bed with HBOS resulting in hugh losses I feel a little little credit is due to AIB and B of I that they did not do likewise with Anglo despite much pressure from the financial pundits

To be fair to Lloyds, the British Government basically begged them to do the deal to save HBOS. They even changed competition laws to facilitate them. Having said that, it appears they didn't have a clue what they were getting. BOI and AIB were never going to be a position to take over Anglo. It would have added nothing to their business model other than more dodgy development loans. At least Lloyds gets a retail network with HBOS. In the long-term (VERY VERY long term!!), the deal will pay off.