Foreign Bondholders of Anglo Irish revealed.
Anglo-Irish Bank has cost the Irish taxpayer at least €30 Billion . If it had been allowed to collapse the main losers would have been the shareholders and bondholders.
A site in the UK has published a document that apparently lists all the foreign bond holders in Anglo Irish. These are some of the people and companies that the Irish government seem to be protecting by using taxpayers money. There are a lot of German , French and UK companies on the list.
The website that revealed the list – asks “is the ECB is forcing Ireland to protect German investments”.
Goldman Sachs are on the list too – their chairman Peter Sutherland who was chairman of oil giant BP until last year and former attorney general of Ireland, recently warned there was “no way” Ireland could walk away from the cost of Anglo Irish Bank.
(See Irish Times) Sutherland is also reported in that article as warning that removing protection for Anglo bondholders “might not be a wise course of action”.
Goldman Sachs profits in 2009 were $13.4billion
We seem to have an international welfare state for super-rich bankers. They pay themselves mega bonuses when times are good and expect the rest of us to bail them out when times are tough – even though it was the finance sector that has thrown the world into recession.
A bit more information on the bondholders here