Comments on: Ireland nationalizes Anglo Irish bank http://www.creditwritedowns.com/2009/01/ireland-nationalizes-anglo-irish-bank.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2009/01/ireland-nationalizes-anglo-irish-bank.html#comment-2604 Edward Harrison Fri, 16 Jan 2009 19:51:28 +0000 http://www.creditwritedowns.com/?p=4794#comment-2604 Right, sorry, that was a Freudian slip. They are also on my mind. <a href="http://uk.finance.yahoo.com/echarts?s=AIB#chart1:symbol=aib;range=1y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined" rel="nofollow">http://uk.finance.yahoo.com/echarts?s=AIB#chart1:...</a> Right, sorry, that was a Freudian slip. They are also on my mind.
http://uk.finance.yahoo.com/echarts?s=AIB#chart1:…

]]> By: CBN http://www.creditwritedowns.com/2009/01/ireland-nationalizes-anglo-irish-bank.html#comment-2603 CBN Fri, 16 Jan 2009 14:26:51 +0000 http://www.creditwritedowns.com/?p=4794#comment-2603 AIB is Allied Irish Bank (a larger, still solvent entity) AIB is Allied Irish Bank (a larger, still solvent entity)

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/01/ireland-nationalizes-anglo-irish-bank.html#comment-2597 Edward Harrison Fri, 16 Jan 2009 12:50:04 +0000 http://www.creditwritedowns.com/?p=4794#comment-2597 mL, it is looking very bleak today. The speed of all this is absolutely stunning. Ireland could not have picked a worse time to nationalize AIB because sovereign spreads are increasing and sovereign CDS spreads are at records. It means traders are increasingly thinking along your lines: some nation will go bust. Take your choice: Switzerland, Austria, the UK. All of these countries have outsized financial sectors. Foreign sovereign wealth funds are not going to help unfortunately. You probably saw that Abu Dhabi lost $125 billion. These people have their own problems. I am mentally searching for a way out here and I don't see one. mL, it is looking very bleak today. The speed of all this is absolutely stunning. Ireland could not have picked a worse time to nationalize AIB because sovereign spreads are increasing and sovereign CDS spreads are at records. It means traders are increasingly thinking along your lines: some nation will go bust. Take your choice: Switzerland, Austria, the UK. All of these countries have outsized financial sectors. Foreign sovereign wealth funds are not going to help unfortunately. You probably saw that Abu Dhabi lost $125 billion. These people have their own problems. I am mentally searching for a way out here and I don&#039;t see one.

]]> By: mL http://www.creditwritedowns.com/2009/01/ireland-nationalizes-anglo-irish-bank.html#comment-2589 mL Fri, 16 Jan 2009 07:02:49 +0000 http://www.creditwritedowns.com/?p=4794#comment-2589 I think you are right. A few months ago, all banks ran. Governments over the world stepped out and guaranteed the deposits in banks. In fact, this act was to shift the risk from commercial banks to governments. Given the fact that many banks are even bigger than the host countries' GDP, the countries are lining up for bankruptcy. If Ireland goes under, UK so as EU countries will be in great great trouble. The next question is: who are going to pay for it. The bonds holder? The taxpayers or foreign sovereign funds? Cheers mL I think you are right. A few months ago, all banks ran. Governments over the world stepped out and guaranteed the deposits in banks. In fact, this act was to shift the risk from commercial banks to governments. Given the fact that many banks are even bigger than the host countries' GDP, the countries are lining up for bankruptcy. If Ireland goes under, UK so as EU countries will be in great great trouble.

The next question is: who are going to pay for it. The bonds holder? The taxpayers or foreign sovereign funds?

Cheers

mL

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