The toxic bank aint gonna be so toxic as its going to take all property loans onto the books. Just how will this be managed? Is every outstanding developer loan being take on? I.E. the ones that are allmost paid off?
Are the government going to buy these loans on a loan by loan basis? We are missing a lot of details about this and the logic behind it, just like the bank guarantee.
Assets plan to cover all land-related loans - The Irish Times - Wed, Apr 08, 2009
Oh, dont call it a bailout, Lenihan said"I really do appeal to individuals in our public life to desist from the temptation of using this bailout language whenever this subject comes up.