Anglo Nationalised: what does this mean & what is the significance/consequence of it?

Z

z106

Guest
Anglo has just been nationalised.

In lay mans terms what does this mean and what is the significance/consequence of it?

I know it means the state now owns it?
But what exactly does that mean?

That the government is now also a part time bank as well as running the country?
 
Re: Anglo has been nationalised

Excellent News - however they better not keep dropping the interest rates.
 
Re: Anglo has been nationalised

Interesting to see that they are going to compensate the shareholders. I wonder what they'll end up paying for the shares of what was essentially an insolvent bank?
 
Re: Anglo has been nationalised

Afuera said:
Interesting to see that they are going to compensate the shareholders. I wonder what they'll end up paying for the shares of what was essentially an insolvent bank?
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I would say the shareholders (myself being one) will get a huge big '0'. But i have no problem with that, as that is the name of the game.

A lot to be said for the statement 'Do not put in what you cannot afford to lose'!!!

How many billions has Sean Quinn and his family lost??? Bloody hell.
 
Re: Anglo has been nationalised

Government statement here - [broken link removed]
 
Re: Anglo has been nationalised

Customer's will get a letter in the next few days. Any chance of a loyalty bonus for savers? (could you imagine the outcry)
 
Re: Anglo has been nationalised

According to the goverment statement, shareholders will be compensated.
 
Re: Anglo has been nationalised

We might get shares in Anglo . . . they're going cheap.

z
 
Re: Anglo has been nationalised

The government are for it. Cowen is finished. What a mess. The builders party has bankrupt the Country.
 
Re: Anglo has been nationalised

Why would the Government compensate shareholders? They invested in a company that has now failed. Why waste money on compensation?
 
Re: Anglo has been nationalised

tosh100 said:
Why would the Government compensate shareholders? They invested in a company that has now failed. Why waste money on compensation?
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Even as a shareholder i agree. They shouldnt, but im sure there are plenty of ff members that have shares and interests in anglo.
 
Re: Anglo has been nationalised

An assessor will be appointed to see if the bank is worth anything now. If there is no worth, there will be no compensation, however if the assessor determines that the bank is of some value, compensation will be made, however low that is. So says Mr. Lenihan.
 
Re: Anglo has been nationalised

Lads,
What are the consequences (if any) for the Quinn group with respect to the money borrowed to cover Quinns stake in Anglo? I am extremely nervous at the moment as I have (and my mother) savings in Quinn Life via their freeway funds. Are these under any threat?
 
Re: Anglo has been nationalised

Nomansland said:
Lads,
What are the consequences (if any) for the Quinn group with respect to the money borrowed to cover Quinns stake in Anglo? I am extremely nervous at the moment as I have (and my mother) savings in Quinn Life via their freeway funds. Are these under any threat?
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have a search on aam. This topic was covered somewhere before. Perhaps Brendan or somebody else can clarify the answer to this
 
Re: Anglo has been nationalised

What will happen to the workers in Anglo?
 
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