econoTwist's

The Precious Irish Bondholders – Here’s The Full List

In Financial Markets, International Econnomic Politics, Law & Regulations, National Economic Politics, Quantitative Finance, Views, commentaries and opinions on 17.11.10 at 15:45

The players in the European credit market are scared senseless by the proposal of channeling some of the losses in the financial sector over to them,  a so-called “Bail-In”.  The element of haircut for bondholders is particular relevant for Ireland who’s banking industry is the main problem. Well, here’s some examples of poor Irish bondholders: Goldman Sachs, HSBC, Deutsche Bank (Asset Management), Alianz, AXA, BNP Paribas, Royal Bank of Scotland, Barclays, Credit Suisse, just to mention a few… You’ll find the full list below.

“Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why?”

Guy Fawkes‘ Blog

BIG BANKERS: Lloyd Blankfein, Kenneth Irvine Chenault, Kenneth Lewis and Edward Yingling.

Anglo-Irish Bank do hardly represent a serious systemic risk to the Irish economy, certainly not to the same degree as AIB or the Bank of Ireland. And if it had been allowed to follow Lehman Brothers,  the shareholders and bondholders would probably have been the only ones to lose money.  However, the Irish government is seeking a way to protect their precious bondholders.

“Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why?”

This interesting question is raised in a recent post at the Guy Fawkes’ Blog.

The Irish state stepped in and nationalised a bank that was basically run by “crooks lending to property speculators,” the blogger writes.

Pointing out that the Irish people are taking the losses that rightfully should have been on the shoulders of the bondholders.

Once upon a time it sometimes happened that  a bond issuer defaulted. And it was seemed as a natural part of the risks investors take.

Yeah, well, times have obviously changed.

One can only wonder why Dublin’s political establishment is so keen to protect foreign investors at the expense of future generations.

The list below of foreign Anglo-Irish bondholders was originally obtained by an Irish bond trader, updated per November 15, and first published at the Guy Fawkes’ Blog.

These are the people whom Dublin’s politicians really seem to care so deeply about – I guess the names are somewhat familiar?


(h/t: Guy Fawkes’ blog)

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