We’re Backing Brave: Yeah. Right.

So here’s the story: back in 2012, around the time that the Irish Taxpayer (you and me) bought AIB for €28 BILLION, the bank was forced to sell Goodbodys for €25 Million because it wasn’t a core business.

Fast forward to now; when Goodbodys has been “for sale” for over five years and has received no takers, (because nobody wants it), and AIB has now emerged as the “exclusive bidder,” to buy it for a multiple of what it sold it for.


Now I’m a simple man, but as a taxpayer and I suppose a shareholder, seeing as the state owns AIB, I think this is madness.

If you feel the same way, please email your TD and tell him or her so.


https://www.google.ie/amp/s/www.ir...back-goodbody-stockbrokers-1.4414068?mode=amp
 
And do you think the Minister or the Regulator will step in?

It’s nothing to do with the regulator. Nothing illegal about it. But the minister is the only shareholder and should ask serious questions about the management team at the bank.

This is scandalous and is not a good use of shareholders funds.

E-Mail your TD’s and have questions asked. In my humble opinion this is far more serious than political questions raised as part of the “footballification” of our political system.

AIB received €28 Billion of our money. They now want to use some of that money to buy back a business for a multiple of what they sold it for, at a time when two potential buyers did due diligence on it and decided it wasn’t worth the €150 Million asking price.

As a shareholder the minister for finance should protect our interests.
If AIB buys back Goodbodys for a cent more than it sold it for than that would be silly
 
And do you think the Minister or the Regulator will step in?

You mean this guy, is it?

Dermot-Desmond.jpg
 
Yet these same banks are bumping charges up again..,after only doing so in August. Some customers are going to be charge twice in January for quarterly charges. This is a scandal, yet Paschal and the regulator swig away in the trough.
All this agreed upon in Clifden no doubt with a nod and a wink while golfing, wining and dining. Brian Hayes and his secretive banking golden circle of attendees weren’t there nothing.

https://m.independent.ie/business/personal-finance/banking/aib-and-boi-hike-fees-for-thousands-of-their-customers-39788587.html
 
Yet these same banks are bumping charges up again..,after only doing so in August. Some customers are going to be charge twice in January for quarterly charges. This is a scandal, yet Paschal and the regulator swig away in the trough.
All this agreed upon in Clifden no doubt with a nod and a wink while golfing, wining and dining.

https://m.independent.ie/business/personal-finance/banking/aib-and-boi-hike-fees-for-thousands-of-their-customers-39788587.html

It’s nothing to do with the regulator: the minister for finance could stop this just by letting it be known he is against it. Fexco and “Management”’of Goodbodys bought it from AIB for €25 Million back in 2012. Now they’re trying to sell it back to them for €140 Million.
Can the opposition please ask Paschal O’Donoghue about this in the Dáil? This is something that won’t go ahead if proper political pressure is applied. And I would think this is more important and possibly an easier win for the opposition than the Seamus Woulfe issue.
 

SoundMan

Full Member
It’s nothing to do with the regulator. Nothing illegal about it. But the minister is the only shareholder and should ask serious questions about the management team at the bank.

This is scandalous and is not a good use of shareholders funds.

E-Mail your TD’s and have questions asked. In my humble opinion this is far more serious than political questions raised as part of the “footballification” of our political system.

AIB received €28 Billion of our money. They now want to use some of that money to buy back a business for a multiple of what they sold it for, at a time when two potential buyers did due diligence on it and decided it wasn’t worth the €150 Million asking price.

As a shareholder the minister for finance should protect our interests.
If AIB buys back Goodbodys for a cent more than it sold it for than that would be silly


I think even upping their interest rate (not illegal) has to be OKed by the Regulator
 

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