Experts recommend clearing house for debts

[mmrebel]

The Government has been advised to deal with the banks' toxic debt by a panel of international economic experts.

The recommendation was made by FTI Consulting, a global advisory firm, which also highlighted the need for more effective regulation of the banking sector.

The report was announced at a breakfast meeting in Dublin this morning.

FTI said that the Government should distinguish between assets worth keeping for the long term and assets whose social and economic value are of short term importance. It also recommended the establishment of a 'clearing house' or public exchange for transfer of distressed assets.

It said that solving the banking crisis was critical for the Irish economy's recovery.

The report said that a singular guardian entity should be appointed to ensure that funding is getting to those who need it and that government imperatives are being delivered at the consumer level.
Read more at
RTÉ Business: Experts recommend clearing house for debts


Did government commission these guys to do a report i wonder?
Has any country actually set up on of these banks since this crisis kicked off apart from Sweden in the 90's ?

[blacbloc]

The Government has been advised to deal with the banks' toxic debt by a panel of international economic experts.

The recommendation was made by FTI Consulting, a global advisory firm, which also highlighted the need for more effective regulation of the banking sector.

The report was announced at a breakfast meeting in Dublin this morning.

FTI said that the Government should distinguish between assets worth keeping for the long term and assets whose social and economic value are of short term importance. It also recommended the establishment of a 'clearing house' or public exchange for transfer of distressed assets.

It said that solving the banking crisis was critical for the Irish economy's recovery.

The report said that a singular guardian entity should be appointed to ensure that funding is getting to those who need it and that government imperatives are being delivered at the consumer level.
Read more at
RTÉ Business: Experts recommend clearing house for debts


Did government commission these guys to do a report i wonder?
Has any country actually set up on of these banks since this crisis kicked off apart from Sweden in the 90's ?

Well that all sounds sensible enough, but bleedin' obvious I'd have thought. Does our government really need to spend more money on a panel of international experts to tell them the ABC of managing their relationship with the banks.

[mmrebel]

Well that all sounds sensible enough, but bleedin' obvious I'd have thought. Does our government really need to spend more money on a panel of international experts to tell them the ABC of managing their relationship with the banks.

Well knowing the track record of this government on implementing change for good it will be a long while coming

[Hazlitt]

They could have gotten the same advice for free by reading the papers over the last few weeks
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[mmrebel]

You see the thing is how would they implement it with Anglo nationalized its probably best to use that seeing as their screwed anyway.
Would the toxic assets include people that are struggling with their mortgages ?