Parsad Posted September 6, 2011 Share Posted September 6, 2011 New article in "The Economic Times" about Prem. Cheers! http://economictimes.indiatimes.com/news/nri/nris-in-news/prem-watsa-the-indian-who-bailed-out-bank-of-ireland/articleshow/9890516.cms Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted September 6, 2011 Share Posted September 6, 2011 Very disingenuous title. Prem Watsa has not "bailed out" The Bank of Ireland at all. The Irish taxpayer has been stung most by having to purchase billions of Euro worth of toxic land and development loans at an inflated price, also by providing liquidity (in reality, cash for trash), and also by pumping in billions of Euro more than Watsa has for an even smaller stake. The ECB is also on the hook as it provides funding at below market cost for the bank (loans/deposit ratio is over 160%). In reality, Watsa basically got a stake in a bank at a fair price. Had he not invested, the IMF would merely have provided the Irish government with the money anyway. Link to comment Share on other sites More sharing options...
Parsad Posted September 6, 2011 Author Share Posted September 6, 2011 I agree, but I think "The Economic Times" was more focused on an NRI who had a very large hand in saving the institution. Cheers! Link to comment Share on other sites More sharing options...
BargainValueHunter Posted July 23, 2013 Share Posted July 23, 2013 http://www.businessandleadership.com/leadership/item/42029-bank-of-ireland-appoints/ "Fairfax invested in Bank of Ireland in the summer of 2011 and since then the bank has made very significant progress against its strategic objectives,” said Watsa. “Fairfax continues to be confident in the outstanding leadership of the CEO, his management team and the board of Bank of Ireland Group. “Reflecting the progress made and my other commitments, I feel that now is the appropriate time for me to step down from the board. I am pleased that we have been able to offer someone of Brad's calibre and experience as our nominee to the Bank of Ireland Group's board as Fairfax, as long term focused investors, continue to support Bank of Ireland in the achievement of its strategic objectives." Link to comment Share on other sites More sharing options...
dcollon Posted July 27, 2013 Share Posted July 27, 2013 Ghostbusting Bad Bank Summoning Cranes Back to Dublin from: Bloomberg http://www.bloomberg.com/news/2013-07-25/ghostbusting-bad-bank-summoning-cranes-back-to-dublin.html Link to comment Share on other sites More sharing options...
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