What would you think about one body or movement or organisation being behind the current downturn in the stock markets? I know its all about about bad debts, lending to those who can’t afford it but for all the economies of the world to go into free fall/collapse is a bit of a coencidence isn’t it?
Just putting it out there. Any good websites that might back this up?
is it the freemasons locke?..
I don’t know!! But wouldn’t be surprised if it were someone/thing. One thing is for sure, there’s money to be made from it that’s for sure
Edit: Freemasons as in from the Simpsons? You setting me up Puke?
[quote=“Locke”]I don’t know!! But wouldn’t be surprised if it were someone/thing. One thing is for sure, there’s money to be made from it that’s for sure
Edit: Freemasons as in from the Simpsons? You setting me up Puke?[/quote]
no the stonecutters were in the simpsons…the freemasons are the crowd bandage was too chicken to call into…
[quote=“Locke”]What would you think about one body or movement or organisation being behind the current downturn in the stock markets? I know its all about about bad debts, lending to those who can’t afford it but for all the economies of the world to go into free fall/collapse is a bit of a coencidence isn’t it?
Just putting it out there. Any good websites that might back this up?[/quote]
Its all fucking Ger Doyle’s fault if you ask me…
nah there is a logical explanation for all of this Locke, I dont personally know or understand it though! It all boils down to leverage IMHO, TV3 will sonn be making a show, when good leverage goes wrong.
If i can find the little cartoon slideshow that explains the subprime crisis I will attach it, its classic
Sub prime lending = giving mortgages to folks who can’t afford it at higher interest rates. No?
I generally find these things lead back to either Frank Murphy or Donie Nealon; however the scale of what’s currently going on suggests they are acting together this time out.
people with higher risk ratings, so maybe just with poor credit records, also high level of borrowings i.e. 100% mortgage.
this in its self was poor practise, but then the banks wanted to get in some capital to lend more, but couldnt because there balance sheet was full of shite assets i.e. these sub prime loans.
So then some fookin genius decided that they would bundle together maybe 1bn of these loans (securitisation) and sell the bundle of loans to investors i.e. pension funds, other banks etc. purchasers of the bundle would collect the monthly reapyments on each and the ultimate surplus was there return.
The basis of this was that in 1000 loans the risk was high on each on an individual basis, but the liklihood was not many would default and the remaining ones would provide sufficient cushion. Safety in numbers if you will.
This did not transpire as they thought, as a result banks worldwide are exposed to US trash mortgages and there balance sheet is heavily affected by this.
this has affected confidence in the banks and reduced there willingness to lend to each other (credit crunch) because they are
a- afraid the other bank wont pay them back
b- that they lend money to another bank and then find that no one will lend to them when they need it so they stockpile there own cash.
Massive domino affect in operation in reality. Dont think many of the irish banks are too exposed to sub prime lending either ono there own book or through the securitisation. But the credit crunch, and huge effects this has had on banks wordwide has contributed greatly to our problems. This allied to us reaching peak in our market was a lethal combination.
Just my humble opinion and this is not an exhasutove explanation. feel free to correct me anyone if Im wrong.
Well the banks thought (incorrectly) that when people defaulted that they would at least break even from the house that they lent to them to buy.
Of course the housing market collapsed also which didn’t help their cause.
Just read on RTE also that Iceland have risen their interest rates to 18%!! and that their currency is on the verge of collapsing.
Which beggers the question…Would it be good a spot to go on the beer for a long weekend considering the amunt of Korona (think thats the currency, not the beer) you’d be getting for your euro?
Also their women are nice.
Pretty good explanation Danny. Just one question:
“This did not transpire as they thought, as a result banks worldwide are exposed to US trash mortgages and there balance sheet is heavily affected by this”
What sort of default rate and bad debt rate has been experienced in the States? In Ireland it’s certainly more about perceived risks at this stage - presumably they’ve much more experience of bad debts in the States but what sort of level are we talking about? Are the loans that are being repaid grossly insufficient to fund the repayments that have collapsed?
[quote=“Gaillimharais”]
Which beggers the question…Would it be good a spot to go on the beer for a long weekend considering the amunt of Korona (think thats the currency, not the beer) you’d be getting for your euro?
Also their women are nice.[/quote]
Was sort of thinking the same myself. Had a look at flights last night and they can be got for around 300 euro from london return. Would be an excellent place to visit imo.
One Euro will get you 281.80 Icelantic Krona’s. Back on Oct 20th it would have gotten you half that amount.
Slightly off topic (but very much on the subject of conspiracy theories) anyone see the programme on the third tower that collapsed on 9/11 on BBC 2 on Sunday night? Think it was a repeat.
The official report into the collapse on Tower 7 said it was due fire from the debri from Tower 1 on the Twin Towers. There are people out there who are adamant that it was a controlled explosion due to television footage of the way it collapsed. They infer that the Twin Towers were controlled explosions as well by either the owner (to pull an insurance scam) or by the US government for whatever reason.
that’s some change. still was an extremely expensive country before this massive downturn was it not.
[quote=“farmerinthecity”]Slightly off topic (but very much on the subject of conspiracy theories) anyone see the programme on the third tower that collapsed on 9/11 on BBC 2 on Sunday night? Think it was a repeat.
The official report into the collapse on Tower 7 said it was due fire from the debri from Tower 1 on the Twin Towers. There are people out there who are adamant that it was a controlled explosion due to television footage of the way it collapsed. They infer that the Twin Towers were controlled explosions as well by either the owner (to pull an insurance scam) or by the US government for whatever reason.[/quote]
anyone who believes it was an insurance scam deserves to be fookin nuked
Fuck off Puke!
what are you saying…why don’t you runaway crying to yahoo, like you did last time you selling out rat bastard…
[quote=“farmerinthecity”]Slightly off topic (but very much on the subject of conspiracy theories) anyone see the programme on the third tower that collapsed on 9/11 on BBC 2 on Sunday night? Think it was a repeat.
The official report into the collapse on Tower 7 said it was due fire from the debri from Tower 1 on the Twin Towers. There are people out there who are adamant that it was a controlled explosion due to television footage of the way it collapsed. They infer that the Twin Towers were controlled explosions as well by either the owner (to pull an insurance scam) or by the US government for whatever reason.[/quote]
Read about that before, something to do with the way they fell straight down instead of toppling over sideways. Complete horseshit. It’s one thing to pull a scam but killing a few thousand people in the process to make it look realistic would be a bit much.
Can’t beat a good conspiracy theory though. My favourite is that man has never actually been on the moon and that all the footage comes from a film studio - the angles of the shadows in the photo of Neil Armstrong are all wrong apparently and the way the american flag is waving in the wind even though there is no wind on the moon.
NIB look fairly fooked: http://www.rte.ie/business/2008/1028/nib.html .
That’s some pretty big impairment provisions they’ve got there. Surprised at the size of their loan book. Didn’t realise they were that big.