banking

I was reading an article in the Sunday Business Post, Banks blame regulator - for wrong reason, and it got me thinking about how this is another example of information asymmetry.

A report in the Irish Times today has this choice quote from the OECD secretary-general:

“We did not see it coming certainly. And nobody else did,”

This quote is in reference to the collapse of the banks. The OECD had said last year that the banks were in good shape, and would do grand.

A few months back, when the two main irish banks had share counted in the tens of cents, I was looking at their reports, likely losses, and all that stuff, and I made a decision to buy AIB shares, if they hit my price. I think I set it at around 25 cents a share.

A breaking news story came up on the Irish Times. Apparently some more non-standard measures are being considered to deal with the current recession.

They are going to keep in mind "key role the banking system plays in the region".