Irish banking shares

To my mind it really bring into question the future existence of Davy. Like this wasn’t rogue staff, this was the last 3 CEO’s and main shareholders - essentially the power base of the firm. This is surely the culture that they have embedded over 30 plus years of leadership - a broker that is always on the lookout how they can get in on a deal - not exactly a model of financial probity. This isn’t their first dance to this type of tune and their effort to shut the investigation down would suggest absolutely no contrition.

The only argument for the firms continued license and existence as currently configured would appear to be lack of alternatives which in itself is instructive and worrying.

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Couldn’t agree more. I would walk over broken glass before using Davy for anything. It needs some big hitters to refuse to deal with them. This is naked venality and corruption, in every way as I have little doubt the initial deal was shonky in any case, greased by envelopes.
Bill ended up with the taxpayer. It’d be considered borderline treason in some eras. Nero would have dealt with these lads. It was, in effect, wholesale theft from the state by a bunch of already wealthy people.
@Copper_pipe, group nomination for COTY please.

Yeah I think we could see an Arthur Anderson style collapse for them with the profitable pieces spun out or taken over.

A lot of it will come down to how the NTMA go forward with them.

Yes

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Who are the alternatives?

Taken over by insiders I’d imagine

Did the tax payer get stung in this transaction? I’m not sure… Kearney settled his debt buy that was with a fund… Only Kearney lost out here as far as I can see unless Iv missed an element of it

Seems like quite a few can already do it but the distinction with Davy was that they were Irish owned

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Because you can be sure they’re all from FG/FF stock and went to the same private schools.They won’t even see the inside of a courtroom.Wheres the stuttering fuck Paschal

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We’re lucky the regulator acted so quickly

These would be the type of crowd who’d have a conniption at the thought of Sinn Fein getting into power because they’d be “bad for business “

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This lad didn’t learn much from his last “fall from grace”

Me man who’s a top dog in one of the Big 5 (his words - nod nod) said Davy’s would be well known as shit hot in the industry but if you weren’t wearing a Hermès tie at a meeting with them they’d be sniggering away

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Sinn Fein would put manners on these boys that’s why they’d be bad for “Buisness”

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Every bond the taxpayer paid over the odds for

Davy suspended as primary dealer in Gubberment debt.

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Everyone is out to get Davy, so they are.

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and rightly so!

the loss of the bond sales will start the ball rolling. id imagine lawsuits against the 16 will start very soon