Think UK Banks are Dodgy - Read This

tirano

Anglo Irish bank lent 10 Irish Businessmen Euro451 million to buy....... Shares in Anglo Irish Bank, the security was limited to the.......Shares in Anglo Irish Bank.
The reason was to bolster the value of.....Anglo Irish Bank Shares

By the way, all UK Post Office deposits are in .... Anglo Irish Bank

http://www.irishtimes.com/newspaper/breaking/2009/0220/breaking14.htm

tirano

"It has also been learned that a further 15 per cent stake in the bank bought by the Quinn family, was also financed using the bank’s own money. This means that a quarter of the bank’s shares were purchased in private deals last July, using the bank’s own money"

cogito

Big deal. It's been nationalised.

And Quinn lost €1bn - a large chunk of which came from Quinn Insurance and cost him more than €3m in fines. I wouldn't insure my bike with them.

tirano

If the Irish Government did not have procedures in place to stop this then what else have they allowed to happen.
Whats the betting that sooner or later the Irish Governments gurantee will be called on and they wont be able to pay out