.....
Wasn't PTSB the one with the worst LTV at 300% - according to Peter Mathews I believe, and wasn't it ILP who own PTSB that gave the 'digout' to anglo for a week. so why support them.

I have long thought that it would be easy to kill the banks by just doing this and maybe delaying the mortgage payments, but am not sure if the time is right and would this not just cause the Guarantee to kick in if the banks collapsed.
......

How to avoid expensive bank charges
Thursday May 13 2010


Banking is expensive for consumers and getting dearer,
as banks lean on customers in a bid to return to profitability
after making a mess of their lending over the past few years

Personal current accounts can end up being expensive for consumers -- and with just five banks to choose from it makes sense to shop around and get the best deal, writes Charlie Weston

BANKING is expensive for consumers and getting dearer. The plans by Halifax to close next month and Postbank's move to shut its operation in more than 1,000 post offices by the end of the year has narrowed down the market.

Now there are just five banks offering current accounts to consumers -- AIB, Bank of Ireland, National Irish Bank, Ulster Bank and Permanent TSB.

Of these, Permanent TSB has emerged as providing the best value in a survey in 'Consumer Choice' magazine, which is published by the Consumers' Association.

The bank has fee-free banking, pays 2pc interest on amounts up to €1,500 if the account is in credit, and has no charges for credit transfers or setting up an overdraft facility.

Permanent TSB's interest rate on an authorised overdraft (ie one agreed with the bank) is 13pc, one of the lower rates.

Other banks have a range of hefty banking charges for consumers using current accounts.

[url].....(cont'd)[/url]

Thanks for your reply above WGU, take your point about beauty & ethics.

What will happen if the Zombie banks were killed, would we not end up paying bond holders etc because of the Gov Guarantee.

Capital markets are unlikely to agree for much longer, triggering a borrowing crisis for Ireland. The first torpedo, most probably, will be a run on Irish banks in inter-bank markets, of the sort that sank Anglo in 2008. Already, Irish banks are struggling to find lenders to leave money on deposit for more than a week.

This quote from the Morgan Kelly article I figured fitted here.

http://www.irishtimes.com/newspaper/opi ... 88132.html

That one made me shudder, but how does he know that stuff you have in bold?

For the past few weeks, Irish banks have not been able to borrow abroad in any manifest way. The market is now as good as shut to us as money retracts from risky countries like Ireland to safer locations like Germany.

...The ECB is the only institution now prepared to finance Irish banks.
The interbank market is closed to Ireland....

Maybe the reason the IMF (an institution whose forecasters completely missed our crash, by the way) said we were doing fine is because it remembers what happened in Argentina. As capital left that country in 1999, the IMF kept telling the government it was on the right track, possibly because the IMF’s own money was on the hook. I was working in an emerging markets trading team at the time and I remember it well.

The parallels with Ireland are chilling.

Eventually, the Argentine banking system imploded as people took out their savings ...........

Have you reached your limit?
Monday, June 28, 2010
CONOR POPE

CHANGING BANKS: Bank of Ireland says it is open for business but two readers who were forced to move their business from Halifax found not just a closed door, but an attitude straight out of the 1980s

‘WE’VE BEEN REVIEWING your account and as you are a such a valued customer we want to increase your credit card limit by €1,000. Good news! You’ve been pre-approved for a loan of €10,000. Need a holiday? Why not take one on us, with a €5,000 interest-free for six months loan. Fancy a bigger overdraft? Just call us now, no delays, no hassle.”

During the Celtic Tiger years, our banks threw money around with an abandon that an international playboy would have found unseemly. The financial institutions which were supposed to be models of fiscal responsibility couldn’t lend us cash fast enough. Credit card limits were increased, unprompted, four times a year; offers of substantial loans came through letter boxes almost as frequently, and mortgages of over 100 per cent were approved at the casual stroke of a pen by the most junior of bank officials.

Not any more. Today the banks have veered wildly in the other direction and are incredibly reluctant to part with what little cash they have left and some even appear to have travelled back in time to an era when women were expected to give up their jobs after marriage and go cap in hand to their husband each time they wanted a few bob.

.....(cont'd)