Anglo 2010 Annual Report

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”

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?

I still have a hang-over …

Revolutionary marxism looks more appealing …

Spose it’ll have to cure itself …


“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.

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