Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

Ireland's finance minister Brian Lenihan ridiculed by City investors
The Telegraph ^ | 11:41PM BST 01 Oct 2010 | Harry Wilson

Posted on 10/02/2010 5:10:29 PM PDT by dynachrome

Mr Lenihan had been speaking for less than two minutes on Friday before a mistake by Citigroup meant that the bank's clients were all able to be heard on the line.

Between 200 and 500 investors are understood to have been on the call, and as they realised their lines were not muted many began to heckle Mr Lenihan.

Some traders began making what one banker on the call described as "chimp sounds", while another cried out "dive, dive". A third man said "short Ireland" before adding "why not short Citi too?"

As the call descended into chaos, with one participant heard to say "this is the worst conference call ever", Citigroup officials shut down the line.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; News/Current Events; United Kingdom
KEYWORDS: citigroup; default; eurozone; ireland
Not good. Another 'too big to fail'?

"Finance Minister Brian Lenihan defended the rescue, saying the "nightmare" collapse of Anglo Irish would have pushed the country into insolvency, in remarks redolent of the recent crises in Greece and non-eurozone country Iceland. "Unfortunately this bank grew to half the size of our annual wealth and the failure of a bank of that scale would render the country itself insolvent," he told RTE state radio.

1 posted on 10/02/2010 5:10:33 PM PDT by dynachrome
[ Post Reply | Private Reply | View Replies]

To: dynachrome
Sad (and surprising) to see.”Sad” because I'm of Irish blood...”surprising” because in ‘07,when I was last there,Dublin was *booming* cranes *everywhere* and more BMWs and Mercedes than you could shake a stick at.
2 posted on 10/02/2010 5:34:21 PM PDT by Gay State Conservative (''I don't regret setting bombs,I feel we didn't do enough.'' ->Bill Ayers,Hussein's mentor,9/11/01)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson