I completely agree, we shouldn't. And I'm delighted the bankruptcy laws changed here.We don't put bankrupts in the pillory or the poorhouse these days. It's called civilisation.
Red Onion,I completely agree, we shouldn't. And I'm delighted the bankruptcy laws changed here.
However, my view of bankruptcy is that it should be like wiping the slate clean and starting over. No debts, and no material assets (other than a modest family home).
I'd take a lot more risks financially if I knew I'd get all the upside to myself, but if it failed I could walk away from my debts and keep a substantial country mansion, and a guaranteed pension if things went south.
And I'd write personal guarantees every day of the week if I knew they couldn't be fully enforced because my wife didn't get legal advice before signing.
I've oversimplified this, but I find it interesting the number of cases where spouses, who were involved in the running of multi million euro businesses for years, suddenly claim they didn't know what they were doing when they signed personal guarantees. Or people with large ancestral homes and lands that can't be touched where their spouse has an interest because they spent a few quid of their own on its upkeep.
The body of the article to which that headline relates makes it absolutely clear that Anglo never in fact wrote residential mortgages.Ehhh, wrong again Sarenco. Here is a headline that refutes your false news.
IofM is much smarter than the rest of us, I know because he keeps telling me, so maybe that's why he doesn't understand the point that you are making. I'm thick so I understand... understand?@IdesofMarch
When you’re in a hole, you should really stop digging.
No subsidiary of Anglo was ever in the mortgage business.
Anglo did acquire a sterling loan book from Allied Dunbar at one stage but no Anglo group company ever originated any meaningful home loan book. They may have advanced a very occasional loan to a commercial client that was secured on a residential property but they were never in the residential mortgage business.
Acoordingly, the idea that Seanie Fitz colluded with anybody regarding variable mortgage rates is delusional.
if you bothered to do any in depth analysis of Anglo Irish Bank and look through the list of Anglo Irish Bank's subsidiaries you will find several that offered residential loans. Sure Allied Dunbar alone specialised in endowment mortgages. Your personal attack on me shows a level of pomposity that beggars belief. Please grow up or crawl back under a stone..
I don't think this really changes any of the arguments. Anglo Irish Bank did not sell residential mortgages to the general public and so they were not influential in the pricing of residential mortgages as a competitor bank. They may well have lent money to their own staff.My friend worked for IBRC and he showed me an Anglo Irish Bank mortgage that he has on his house when he worked for Anglo. I will ask him will he let me post it to the forum.
Ok, sorry about that. I think Ansbacher Bankers Ltd had a residential loan portfolio also, if that makes a difference.I don't think this really changes any of the arguments. Anglo Irish Bank did not sell residential mortgages to the general public and so they were not influential in the pricing of residential mortgages as a competitor bank. They may well have lent money to their own staff.
Hi LeperNone of them faced prison.