PTSB: In Dublin on Wednesday, the nation financial regulator warned that the European Central Bank is worried by the impact of political pressure on the banking system, according to Bloomberg. It shows you the danger of dealing with highly-regulated financial institutions that have a lot more constituents than just shareholders, said Porter Collins, managing member at Seawolf Capital LLC in New York, which bought PTSB shares in the placing. Days after Permanent TSB Group Holdings Plc investors paid top dollar to buy into the lender six weeks ago, the government began pressing lenders to cut mortgage rates. The issue muddies the story of what has otherwise been a fantastic turnaround at the bank and in Ireland. It also highlighted the pressures facing banks even as the government readies the disposal of a stake in Allied Irish Banks Plc, in what promises to be one of Europe biggest share sales in recent years. The government campaign helped push PTSB shares down as much as 10 percent in Dublin after they were sold at the top of an indicative price range.
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