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« CBS NEWS: Oil Still Leaking From BP Gulf Of Mexico Spill | Main | Ron Paul On Gold: "I'm Buying At These Levels" »
Tuesday
Apr302013

REPORT: Billionaire Bill Gates Got Bailed Out In Ireland

Bill Gates Added To List Of Bondholders Bailed Out In Ireland

Taxpayers vs. Bondholders

What happened in Ireland was nothing less than the blasphemous rape of a nation in order to reward billionaire bondholders who invested recklessly, conducted little oversight, and then went crying to Geithner and Trichet when it didn't work out.  In other words, it was their own damn fault, and they should have lost their collective asses when the banks failed.

This is the heart of the bailout battle in Ireland and everywhere else: taxpayers vs. bank bondholders.  The difference in Ireland is the debate is front page news.  While Irish citizens are the ones who must repay the loans, they aren't the only ones who got screwed.  Call it global taxpayer theft with heavy concentration in Europe and the U.S., as bailout funds were only made available on Geithner's explicit condition that bondholders not be touched.

Remember that U.S. taxpayers fund approximately 20% of the IMF's budget.  So when you read below about Bill Gates and his $34 million in Irish bank bonds that were bailed out at 100 cents on the dollar by the IMF and EU, take comfort in the knowledge that some of your taxpayer dollars helped to rescue poor Mr. Gates from certain financial doom.

 

REPEAT AFTER ME

We must never ask bank bondholders to pay for investment mistakes.

Much better to foist losses on taxpayers and protect those who committed fraud.

How dare we expect billionaires to bear the burden of actual capitalism.

 

---

How Billionaire Bill Gates Got Bailed Out By Irish Taxpayers

Irish Independent

It has just been revealed that the world's second-richest man, Microsoft founder Bill Gates, was a major Irish bank bondholder ahead of the financial collapse that saw the Irish taxpayer put on the hook for the $113 billion bank bailout.

The identities of wealthy bondholders in the Irish banks, bailed out in most cases by Irish citizens, have never been revealed fully.  Billionaire Chelsea owner Roman Abramovich emerged as a bondholder in Irish Nationwide after his investment vehicle Millhouse was involved in a lawsuit.  Abramovich and his partners lost the case, but many other bondholders were repaid in full despite backing irresponsible banks.  French and German banks were the largest holders of Irish bank bonds.

Pressure from the ECB and Tim Geithner on Ireland not to burn senior bondholders saw those French and German banks repaid in full when the Irish banks hit the skids.

Most recent regulatory filings show that the Gates Foundation still owns nearly 99 million shares in Bank of Ireland, which would be worth about $30M at current prices.

 

---

Gates Was Major Bondholder In Bailed-Out Irish Banks

Irish Central

Microsoft founder Bill Gates was a major bondholder, with $34.6 million in bonds at the end of 2006, in Irish banks which were bailed out by taxpayers.  Gates, the world's second-richest man, was a bondholder in Anglo Irish Bank, Irish Nationwide Building, Bank of Ireland and Allied Irish Bank, according to new filings which detail investments by the Bill and Melinda Gates Foundation.  This total included 7 million bonds in Anglo Irish valued at nearly $11m.  The trust also listed a holding of 1 million Irish Nationwide bonds worth €2.02m.  It also owned Bank of Ireland and Bank of Ireland (UK) bonds worth more than €7.7m as well as more than €5.54m in AIB bonds.

 

Now Watch This

Bill Gates says he is a friend of Ireland.

Start watching at 1:10 to hear Gates applaud the hard work and sacrifice of the Irish people in making "the necessary cuts" to save their nation.  It's absolutely smack-worthy.  At the time, no one was aware that Gates had been one of the bailed-out bondholders.  So to watch him in this clip does inspire a certain new and unique level of loathing.

Jan. 23, 2013.

 

 

Read more:

Rothschild Bank AND Goldman Sachs Are Both On The LIST Of Bondholders Getting U.S. Taxpayer Billions In Ireland

 

Entertaining Clip

Ireland Forced to Take EU Bailout

 

See the rest of the photos here

 

 

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Reader Comments (18)

Ireland Gets $113 Billion Bailout as EU Ministers Seek to Halt Debt Crisis

http://www.bloomberg.com/news/2010-11-28/ireland-wins-eu85-billion-aid-germany-drops-threat-on-bonds.html

Detail on Ireland's bailout back in 2010.
Apr 30, 2013 at 4:08 AM | Registered CommenterDailyBail
Apr 30, 2013 at 6:02 AM | Registered CommenterDailyBail
Strauss-Kahn Set To Receive Lifetime $320,000 Annual Pension From IMF, Heavily Funded By U.S. Taxpayers

http://dailybail.com/home/strauss-kahn-set-to-receive-lifetime-320000-annual-pension-f.html
Apr 30, 2013 at 6:29 AM | Registered CommenterDailyBail
Apr 30, 2013 at 6:41 AM | Registered CommenterDailyBail
Russia And China Give $100 Billion To Create New Bank to Replace World Bank, IMF

http://dailybail.com/home/russia-and-china-plan-new-bank-to-replace-the-imf.html
Apr 30, 2013 at 6:42 AM | Registered CommenterDailyBail
Tim Geithner an 'utter failure at the IMF'

http://dailybail.com/home/dominique-strauss-kahn-tim-geithner-and-the-imf.html

A Great Read
Apr 30, 2013 at 6:44 AM | Registered CommenterDailyBail
IMF’s Pot Of Cash Could Be Expanded From $350 Billion To $3.5 Trillion

http://dailybail.com/home/sources-in-washington-say-imfs-pot-of-cash-could-be-expanded.html
Apr 30, 2013 at 6:47 AM | Registered CommenterDailyBail
Apr 30, 2013 at 6:56 AM | Registered CommenterDailyBail
Ireland's Choice: Default Now Or Later?

http://dailybail.com/home/irelands-choice-default-now-or-later.html

By Dr. Pitchfork
Apr 30, 2013 at 6:57 AM | Registered CommenterDailyBail
Geithner The Financial Terrorist...Strikes Again In Ireland

http://dailybail.com/home/the-terrorist-who-got-awaystrikes-again.html

Economist Morgan Kelly reveals in the Irish Times that a deal to haircut approximately 30B Euro of Irish bank debt was sabotaged by financial terrorist Tim Geithner.
Apr 30, 2013 at 7:05 AM | Registered CommenterDailyBail
Bill Gates is a complete dumb ass made worse by the fact that he has proteus syndrome. You only have to hear him talk or better yet watch him sign his name. Just complete scrawl. I know Lew is worse, but Lew somehow comes off as being somewhat intelligent. Gates. for all his billions can't afford lessons in basic handwrithing. The most foolish of foot soldiers in the civil war wrote eloquent letters home to their loved ones that were written in excellent prose. Complete thoughts and I dare say with their less than high school education they could probably be self sufficient. I don't get that about Gates. His father is a well heeled man and losing his ass was never an option. Bill Gates is not a self made man and what is more pointed is the fact that his lips are wrapped around Irish penises to keep his fortune intact. The man is a pussy, and not the riot kind. To find out how smart he is, drop him off in the middle of the woods in Maine or New Hampshire and see how much a survivor he is when he doesn't have a host to attach himself to. Gads.
Apr 30, 2013 at 8:11 AM | Unregistered CommenterSKINFLINT
The table's tilted. The game is rigged. It's a shell game but there is never a pea. I can not see how the global economy will not collapse. I was wrong one time in the past.
Apr 30, 2013 at 1:06 PM | Unregistered CommenterTR
SKIN

I had to look up proteus syndrome.

http://en.wikipedia.org/wiki/Proteus_syndrome
Apr 30, 2013 at 1:45 PM | Registered CommenterDailyBail
TR

The pea in the shell game is debt and they are doing everything possible to hide it. They can continue for a few more years, but rates will rise and it won't be easy. Or we will turn out to be Japan, and rates will never rise, while debt is continuously monetized by the Fed. It's been 5 years and there is no end in sight to the debt.
Apr 30, 2013 at 1:49 PM | Registered CommenterDailyBail
Close one there SKINFLINT. The Seattle's Boeing /Sen Henry Jackson/neocon crowd needed a room full of smart young aspirants to do the legwork to develop chips and such to build the ultimate death machine and take out the simple people of the world even though it was/is the greedy industrialists using the hogs' share of natural resources while destroying the environment and starting the major genocides that are the problem. Religions believing in an afterlife completes the recipe for the end of it all and destruction for all.
I occasionally have this day dream of Bill Gates going to the circus and pulling out a wad of money to buy a bunch of helium balloons. After the vendor hands Billy the balloons, he floats off over the Atlantic, never to be seen again. He should have done his homework and dumped the hubris gained from having billions of dollars and no boss or minister of any value.

If Bill Gates were to evaluate the Boston marathon incident, he would draw the wrong conclusions and carve them into the flesh of innocent men, women, and children at his feet with enough money and mercenaries to get the job done. Then he would pout and go home to be praised again. Everybody can get their own PC though, and that is very nice and a grand and monumental advance for humanity.
Apr 30, 2013 at 9:09 PM | Unregistered CommenterHoward T. Lewis III
SKIN

Nigel Farage is awesome, and that is an especially good clip from Simon Black's conference.
Apr 30, 2013 at 11:15 PM | Registered CommenterDailyBail

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