Monday 31 October 2011

The Dirty Dozen w/e Nov 6th 2011

This is it, the week of dishonour, when Anglo Irish Bank (I refuse to call them anything else, despite the attempt at hiding them behind a new name), using OUR money, part of the nearly €30bn our government (this one and the last) has committed to them, 'honours' a billion-dollar bond.
This bond was issued in Nov 2006, has been trading within the last 12 months on the secondary market at 52c - that's a near 50% markdown, so someone stands to make a profit of almost 100% within 12 months. Obscene profiteering, even more obscene when you consider that last week the HSE informed those who are charged with looking after an increasing number of homeless that they would have to do so henceforth with a 10% cut in their budget - why? 'Because the money isn't there'.
The money can be found to pay this bond, however, and the next eleven on this list, and the €20bn due in 2012, the €17bn in 2013, the €25bn in 2014 - who from? Does anyone REALLY believe the banks are going to make that much profit themselves over the next three years?
Even if you've never protested before, join us nationwide this Tue, Nov 1st, at noon; have your own march in your own parish/village/town/city/workplace, no matter how small. But register your objection, let your voice be heard.
If you want to register your objection online, this is the link:

Sunday 23 October 2011

The Dirty Dozen w/e Oct 30th 2011

November 2nd, The Billion-Dollar Heist, a $1,000,000,000 bond falling due from Anglo Irish Bank, an unsecured, unguaranteed bond which - even under that utterly discredited bank guarantee our ill-advised government gave - we have absolutely NO obligation to pay. But this government will pay it.
November 1st, 12 noon; it used to be that this was a time when every community in this country paused, looked to its maker, and offered thanks. On Monday November 1st, at that time, let every community pause for a while, look in the eye those in Frankfurt and Brussels who would be our new masters, those who are insisting we pay this bond, and say no; no, we're not carrying the load for these bondholders anymore; no, we're not going to watch our public services being decimated even as our government funds the banks so they can pay these failed gambles to these massive financial institutions; no, we're not going to stand anymore for the weakest and most vulnerable in our society being crushed so these massive money-monsters can feed; no, we're not going to accept anymore this new order, where saving banks and finance houses is more important than saving people.
Let 12 noon, November 1st 2011, be the moment when this tide turns.
These are the next 12 bonds due - look at number two on the list.

Monday 17 October 2011

The Dirty Dozen - w/e Oct 23rd 2011

The next couple of bonds are mere tiddlers, €5.3m and €8.9m, but then, in two weeks, Wednesday November 2nd, €700,000,000 of a senior unsecured Anglo Irish Bank. If we pay this it will be another in a whole series of shameful acts by this and the previous Irish governments. Seven hundred million euro of our money, a failed bond from a failed bank, a debt we as a nation never incurred but a debt we as a nation are going to pay, under threat from the ECB.

When will this lunacy end, when will this government call a halt to these repeated acts of sovereign betrayal? Don't let this date pass unnoticed, don't let this act pass unchallenged. Do something.

Monday 10 October 2011

The Dirty Dozen - w/e Oct 16th 2011

Another bad week - three bonds mature tomorrow (Tue), all three senior unsecured, adding up to a total of over €70,000,000. Don't let those figures just fly over your head - think instead of what could be done with that money to help this economy, as opposed to handing it over to foreign financial institutions.

Monday 3 October 2011

The Dirty Dozen - w/e Oct 9th 2011

Last week was a good week to be a bondholder in one of the Irish banks, a total of nearly €2bn paid out, the holder of a €1.4bn unsecured bond with AIB doing best of all. Ah we're a generous people, handing over all that money to those financial institutions, failed gambles all but honoured by us all the same.
Appearing for the first time this week the €1bn Anglo Irish Bank bond, the remaining €700m of which falls due for payment on November 2nd. That's Anglo, the zombie bank, and our masters - the ECB - expect that like so many million zombies we will pay that money, follow the path they are dictating for us, the details of which are set out by their local 'controllers' here, our own government.
Thank the heavens for Declan Kidney, Brian O'Driscoll, and all their heroic men.