Ten of the dozen this week are unsecured, totalling approx. €288m, Anglo coming in with a nice one for some very lucky bondholder, a £60m bond that falls due on May 14th, which translates at around €74m.
The one that really interests me though is the AIB bond of May 28th. A €2.25bn bond, taken out on May 28th 2008, months before the blanket bank guarantee offered by our then government in Sep 2008. That guarantee was offered based on false information given by the banks (€5bn going to be the total bank bailout cost - remember those heady days?) and therefore - surely - a worthless guarantee. Yet look in the fourth column and there we see it - Covered.
Who, besides those of us who march every week in Ballyhea and Charleville (latest march last Sunday, week 61 - video here: http://www.youtube.com/watch?v=cc3wQA9Tsf8&feature=youtu.be), is going to challenge this? There is all this focus on Anglo, and rightly so, the failed bonds from a zombie bank, but does anyone know that in the four months Feb/Mar/Apr/May, AIB - which we also own, to the tune of 99.8% - will pay out €5.9bn in bonds?
Who is even going to publicise this, who is going to bring this into the open?
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SISTER BLOG: thechatteringmagpie14.blogspot.com