Oh, and by the way, Anglo Irish Bank released their annual report for 2010 today. Apparently, they lost €17.7 billion. Don’t worry though, it’s manageable.
Oh, and by the way, Anglo Irish Bank released their annual report for 2010 today. Apparently, they lost €17.7 billion. Don’t worry though, it’s manageable.
6 replies on “Anglo 2010 Annual Report”
They certainly managed it.
It looks as if, when the dust settles, Anglo will have lost between 40% and 50% of its September 2008 loan book. When did a bank of this size ever lose so much? I look forward to the Nyberg report.
how is that accounted for? I presume that as Anglo is not valued as an asset on the national balance sheet then the reduction in value of its loan book is not a cost and thus not attributable to the budget deficit? Surely though some of its costs such as staff count as govt spending and thus for the budget deficit?
We’d get seventeen Bertie Bowls for that. A crying shame.
I still have a hang-over …
Revolutionary marxism looks more appealing …
Spose it’ll have to cure itself …
@Karl
“Oh and by the way, Anglo Irish Bank released…..”
These few words accurately capture the shock induced numbness I have developed recently when reading about the monetary bills and losses the banks have been kind enough to rain ( I have a more appropriate word in mind) down on us
Much more of these kind of figures and we may have to move a decimal point (or two) in this curious and increasingly frightening currency which we are using just to keep our sanity.
Alternatively we could set up a Puint at a rate of 10 Euros to 1 Puint. IR£ 1.77 billion and £Ir2.4 billion (while being just as devastating) may be digestible enough to psychologically stir us into re-cuperative action.
Such a move may even allow us all to regain some concept of the value of money. After all it is not so long ago since a £Ir 70000 house and
£ Ir12000 salary were attainments which individuals were happy to have achieved.