More Bankers

Bank of Ireland just named their new CEO. Richie Boucher has been given the role. I'm disappointed that the government help recapitalise a bank and then allow the bank to make an internal appointment. It seems like it's business as usual in the banks of Ireland.

Crisis, what crisis?

Bank of Ireland announced there profits for the last 6 months. The last 6 months were the world's banks went into meltdown. The news was grim, profits had fallen 32%.

Wait a minute... Profits, not losses... Well they couldn't have been that good. Think again! Only €650 Million. I wouldn't mind having a crisis like that myself!!!

Can you have any sympathy for the banks with this sort of nonsense coming out.

Please note: I have worked in detail in treasury finance so I am well aware of the issues that make up this crisis.

Banking

The world of banking has been capturing the headlines recently. The whole sorry mess is tumbling down like the house of cards, built on sand that it is.

The government have kindly guaranteed all the savings in Irish Banks. It doesn't really mean much as there is no issue with liquidity in Irish Banking. The astonishing move is to guarantee all the money borrowed by Irish banks. That is a much riskier move and it gives banks a get out of jail free card.

It would be pretty nice to make oodles of money creating bad debt and then having it all cancelled out by the man. Imagine it in any other industry?