On Newstalks wide Angle this morning, Peter Matthews outlined how he believes the total cost of Bank liabilities in the state guaranteed Banks is 66 billion. He believes that the State is liable for 40 billion and the Bondholders in all Banks are liable for the other 26 billion.
He outlined which bondholders in which Banks are liable for what amount.
He reckoned that a 6 man committee should be set up to meet with all the interested parties and outline how this would work.
He also believes that 20 billion of the 40 billion is recoverable in 5 years.
It was very interesting and very detailed. When questioned as to why it was not already in place, he said it was human nature to try and run and hide from mistakes and was quite understandable when people are talking about jail and court cases.