Irish Credit Unions to Buy out ToxicTwin Pillar Banks
I would like to propose that: the Irish Credit Unions buy up all local private bank debt at Fire Sale Bankruptcy prices, with the condition, Credit Unions will also receive full banking privileges, and expand their mandate into becoming a full fledged ‘Irish State Bank’
Thus undermining the so-called ‘Two Pillar Banks’ though more aptly, ‘The Twin Leaning Towers of Piza’
Would like to know what you think of this idea, I know the financial genius John Hume would run with it – why not discuss it with him.
Links to my posts at wordpress: https://twittisist.wordpress.com/
The only referendum Ireland needs is whether or not to rescind the Lenahan private bank guarantee. I wonder how many Irish people would vote yes to Enda’s ‘Austerity’
When the Irish Banks had to be bailed out in order to escape Bankruptcy all the contracts for pensions and bonuses for management became void due to the incompetency of the same management. If they were allowed to become Bankrupt there would be no question of any rewards let alone pensions of any sort for failure, how much less so for stealing (embezzling) these funds from the taxpayers Bailout. These Bankers must not be rewarded for stealing bonuses for loses & pensions based on failure.