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.

Yeah, I laughed out loud when I heard Lenihan and his "bail-out" comment on the 6-1 news.

I heard on newstalk and today fm the amount of developers that have got the banks into this mess is only about 50.
Imagine 50 people have pretty much managed to drag the whole irish banking system to its knees and the whole country with it.

Originally Posted by mmrebel

I heard on newstalk and today fm the amount of developers that have got the banks into this mess is only about 50.
Imagine 50 people have pretty much managed to drag the whole irish banking system to its knees and the whole country with it.

We wont find out who they are either, anybody find it odd the way the media + FG went quiet over the Anglo 10 ?

Listening to the Late debate now...interesting ...Mark Hennessy wondering whether some developers would willingly give up the all assets!!Could end up in the high court!

One of the things that annoys me the most is that after this whole sorry episode banks in this country regardless of any new regulations will loan out massive sums of money and not have to worry about their bank going under. They know the government will not let that happen. The lack of this threat will encourage more of the behaviour none of us want to see repeated again (especially while taxpayers have shares in the banks).

Originally Posted by spidermom

Listening to the Late debate now...interesting ...Mark Hennessy wondering whether some developers would willingly give up the all assets!!Could end up in the high court!

Sounds like this plan has only been half thought out. FF seem to think by making announcements like this, that the people will go away + let them get on with governing ( wrecking) the country. The fact that Fitch downgraded us tonight is another killer.

Originally Posted by Digout

Sounds like this plan has only been half thought out. FF seem to think by making announcements like this, that the people will go away + let them get on with governing ( wrecking) the country. The fact that Moodys downgraded us tonight is another killer.

Indeed...will all these developers hand over loans that are still providing a return???

I not think so....

So has Lenihan got a cut-off amout for this bail-outs? When do we say enough is enough.

The budget was yesterday, it took till this afternoon for Lenihan to explain that WE are taking on all loans, why the delay? Is this plan being made up as they go along?