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: http://www.petitiononline.com/isntbb11/petition.html