Dont be surprised if Biffo denies it. After all Michael Martin said he was not told properly about nursing home fiasco, he was only given the file going inmto a meeting and he never read it. Cost us billions as a result. Remember Bank enquiry only extends up to 29th. Sept. 2008, not AFTER when all the important decisions were made. Enda Kenny said last night that he will open all the books and expose the golden circle. There is some hope.
You'd think Kenny committed Treason and brought in IMF. Cowen had all in stitches in Galway at 3.30a.m.but he was "not impaired" -DD Power. FF=Publican páirtí an IMF.
It is valid but the way you are adding it up is incorrect.Originally Posted by tonic
If Anglo hadn't done the buy back then the total recap would have been €14bn and not the projected €12bn.
Good stuff. So let me get my post-Triple Crown, guaranteed! head together. The losses that Anglo are projecting for the last financial period (over 15 months) of €14b or so, takes into account the losses on the transfers to NAMA?
They're not separate then?
In exile until
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reinstated and apology forthcoming.
No, one and the same.
no pasaran!
No, it's a question of their need, not a question of bringing them back to where they would be if none of this had happened.
no pasaran!
Right. And the reason they have been able to calculate this, is because the value of the loans was fixed back in late 2009. The only issue up until now has been the level of the discount provided, which we can agree to be 40%?
So depending on the perspective our total loss (so far) with Anglo is either €10b or €12b.
Would that be correct?
In exile until
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reinstated and apology forthcoming.
Don't know about the discount until we see it, but yes, total loss about 10 billion and that should be it. Anglo did make an operating profit last year of 600/800 million I think, so there is the prospect of dragging some if not all of the 10 billion back over time, depending on what use can be made of it as a bank from now on.
no pasaran!
That is just mumbo-jumbo tonic.
Anglo is projected to get €12bn (€4bn previously and another €8bn in the next few weeks) from the state in recapitalization money, that is what we have lost so far.
They have also got another €10bn in very dodgy repos from the CB that are very unlikely to be repaid in full.
I wonder if Cowen will be hauled in to help with enquiries?
Regards...jmcc
What's a few thousand million euro worth?
Take a bow, Ahern, McCreevy and Cowen.Twenty-nine deaths by suicide can be directly linked to the turmoil in the construction and property sector
29 property suicides leave State unmoved - National News, Frontpage - Independent.ie
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