The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[seafoid]

 http://www.ft.com/cms/s/0/4339f826-7f78-11e3-b6a7-00144feabdc0.html

Irish sovereign debt yields little more than UK Gilts, despite the trauma of Ireland's banking sector collapse; the yield on Portugal's 10-year government paper has fallen 30 per cent in four months.All of these valuation movements, from Palo Alto to Lisbon, can be explained away individually. Maybe rich Russians will flock to Moncler's Alpine shops this season; Asos might achieve its global ambitions; and the thermostats of the future may be smart and beautifully designed.But it is clear they share a common fuel: quantitative easing. Cheap money has given us a period of "wild abandon", says Andrew Lapthorne of Société Générale. Roll on QE4.

[trueblue1234]

Any word on how the court case is going (And not William Roaches!!) Would have thought the biggest coporate/ Financial case ever in our history would have aroused a few comments? Or are we at the stage now where we're getting indifferent to the whole mess.

[Rossfan]

Those cnuts will probably be found not guilty 

[gerrykeegan]

Can't see that happening. The volume of evidence is huge.
I nearly knocked Seanie Fitz down one day as I cycled up past the courts recently. Huge media presence there the last two days. It's going to be a long trial, I wonder how long the interest will stay so high.

[seafoid]

Morgan Kelly presentation at UCD Economics Soc
Whatever happened to Ireland?

http://www.youtube.com/watch?v=8LCofepdUzE

[muppet]

Morgan Kelly presentation at UCD Economics Soc
Whatever happened to Ireland?

http://www.youtube.com/watch?v=8LCofepdUzE

Thanks for that. Well worth listening to him. He has been more right than anyone else right from the start.

[seafoid]

Morgan Kelly presentation at UCD Economics Soc
Whatever happened to Ireland?

http://www.youtube.com/watch?v=8LCofepdUzE

Thanks for that. Well worth listening to him. He has been more right than anyone else right from the start.

Bond yields are low but only because of Draghi. The economy is still banjaxed

[Bord na Mona man]

http://www.independent.ie/business/personal-finance/family-gets-to-keep-home-after-150k-debt-is-written-off-by-aib-30084311.html

I see the precedent for debt write downs while keeping the asset has started. On one level I can see the logic in coming to arrangements in certain scenarios. Chances are the house wouldn't have fetched as much on the open market.

However, looking at the bigger picture, it's hard not to feel that the prudent folk who managed their lifestyles, struggled hard but paid their bills and didn't overstretch themselves are once again the mugs in this country.

I know, and know of several people who are strategic mortgage defaulters and are holding off for a similar write down. They are people who aren't paying a button on their primary residence mortgages, despite having the means to make significant payments. Others have long since stopped paying the mortgages on (multiple) investment properties and are merrily trousering the rent. In many respects they are still maintaining 2006 bubble era lifestyles.

Those who cheer such folks getting one up on 'de banks' usually fail to make the connection that it will be taxpayer picking up the tab once again.

[AZOffaly]

I have to say I have sympathy for people who find themselves in a bind due to changed circumstance, negative equity and a mortgage they can't pay on a family home. Evictions from a family home must be a terrible, terrible thing.

However, the lads you describe are a different kettle of fish.

[armaghniac]

I have to say I have sympathy for people who find themselves in a bind due to changed circumstance, negative equity and a mortgage they can't pay on a family home. Evictions from a family home must be a terrible, terrible thing.

However, the lads you describe are a different kettle of fish.

There are people who've ended up in over priced starter apartments and the like, and you have to have sympathy for them. But if someone is in a 5 bed des-res they should be expected to trade down, rather than be bailed out by taxpayers living in less fancy dwellings.

[magpie seanie]

I have to say I have sympathy for people who find themselves in a bind due to changed circumstance, negative equity and a mortgage they can't pay on a family home. Evictions from a family home must be a terrible, terrible thing.

However, the lads you describe are a different kettle of fish.

There are people who've ended up in over priced starter apartments and the like, and you have to have sympathy for them. But if someone is in a 5 bed des-res they should be expected to trade down, rather than be bailed out by taxpayers living in less fancy dwellings.

Tell us how that would work. 

[magpie seanie]

http://www.independent.ie/business/personal-finance/family-gets-to-keep-home-after-150k-debt-is-written-off-by-aib-30084311.html

I see the precedent for debt write downs while keeping the asset has started. On one level I can see the logic in coming to arrangements in certain scenarios. Chances are the house wouldn't have fetched as much on the open market.

However, looking at the bigger picture, it's hard not to feel that the prudent folk who managed their lifestyles, struggled hard but paid their bills and didn't overstretch themselves are once again the mugs in this country.

I know, and know of several people who are strategic mortgage defaulters and are holding off for a similar write down. They are people who aren't paying a button on their primary residence mortgages, despite having the means to make significant payments. Others have long since stopped paying the mortgages on (multiple) investment properties and are merrily trousering the rent. In many respects they are still maintaining 2006 bubble era lifestyles.

Those who cheer such folks getting one up on 'de banks' usually fail to make the connection that it will be taxpayer picking up the tab once again.

I heard that on the news and to be honest my first thought was "where's my write down?" Government raiding my wages to pay back illegal debt that was nothing to do with me, boss laughs when I ask for more money - he is right, I have nowhere to go really unless I relocate and sell my house but....the value of my house has gone down, possibly in negative equity. And because I pay my mortgage and my bills I'll get nothing. f**k this country and the bastards who run it.

I don't mind paying my own debts. It's paying for others that pisses me off. They're taking money off me that I would like to spend on my kids.

[AZOffaly]

Yeah, it's not fair, but please, less of the f**k this country stuff. f**k the bastards who run it by all means.

I suppose one way of looking at it is that society can be judged by how it treats its most vulnerable. And instead of focussing on the tosspots who tried to hit the big time, and now are caterwauling about having to ditch 2 or 3 houses, I think it's a good thing if a family can keep their home, if they've genuinely fallen on hard times. I don't want to see women and children being thrown out of the house in my name.

[magpie seanie]

Yeah, it's not fair, but please, less of the f**k this country stuff. f**k the b**tards who run it by all means.

I suppose one way of looking at it is that society can be judged by how it treats its most vulnerable. And instead of focussing on the tosspots who tried to hit the big time, and now are caterwauling about having to ditch 2 or 3 houses, I think it's a good thing if a family can keep their home, if they've genuinely fallen on hard times. I don't want to see women and children being thrown out of the house in my name.

The people running it were voted in and will be voted in again. We're a crowd of eejits to keep accepting it. Look at the Minister for Finance's (for one but he is in charge here) back catalogue of failure and utter lack of compassion. A serial failure yet he is in charge of the Dept of Finance. Wrecks my head.

[AZOffaly]

I think politicians in many countries are less than stellar, and most political systems have an element of corruption in it. Look at the lobby groups in the states, and any amount of crap going on in the world. Maybe instead of 'f**k this country' you mean 'f**k the human race'.

I love this country. I like the majority of the people I've met, I can have a good craic in any town in the country. I love our culture, our scenery, our games. I dislike our political class, but to be honest I think I would dislike most politicians in the entire world, so be it.

There's things that are pretty far from ideal, and I think we're getting better at throwing the bad shit out in the open. But it's still a great country to live in and raise kids in. In my opinion at least.