What is truth?

Posts tagged ‘Allied Irish Bankl’

Drip ,Drip Lies and more lies from Cowen and lenihan

Even by the standards of the global banking collapse, Anglo Irish Bank stands out. From a loan book of about 75 billion Euros when the government took over in 2009, Anglo Irish says that it has only about 12 billion Euros in loans that it classifies as performing. The bank is expected to transfer 36 billion Euros in troubled loans to the asset management agency — about half its existing loans.
source http://www.nytimes.com/2010/09/01/business/global/01anglo.html?pagewanted=2&_r=1&partner=rss&emc=rssSo the question is if you have at least 75 billion of loans and only 12 billion are “performing” that leaves 63 billion not “performing” so you have a loss of 63 billion
And that is just from the figures that have leaked out from Anglo Irish Bank and what about the other banks Allied Irish and Bank of Ireland add another 25 to 30 billion that is just the beginning because as the recession bites we will have mortgage defaults all over the place causing more drops in asset values, get my drift?
Lenihan and Cowen are lying and their cronies are spinning a web of deceit with every press statement they come out with.
something must be done and done fast, if we are to save what is left of our sovereignty

Tag Cloud