Good Money After Bad

An interesting thing happened yesterday; AIB's share price rose by %2.5. Not the good news story it may initially seem though.

The rise was on the back of the company announcing that they made a €2.6 billion pre-tax loss in 2009.

In Ireland in 2010, a €2.6 billion loss by a bank is good news!

It's a cautionary tale of the topsy-turvy times we live in when announcing a €2.6 billion loss is seen as a positive business story, enough to generate a 2.5% price increase.

It's like feeling positive about the fact that your taxi-driver is only twice the legal limit for alcohol, as opposed to six time the legal limit. Wrong, oh so wrong.

And all the time NAMA rolls on, more jobs are lost every day and Mary Coughlan responds by getting a makeover.

Awesome...