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Anglo Irish Skank and the money

  • 01-10-2010 01:20PM
    #1
    fontanalis
    Closed Accounts Posts: 3,619 ✭✭✭


    Just wondering out loud, hopefully someone can clear afew things up.
    How much is NAMA giving Anglo for the dodgy loans? And isn't the other money announced yesterday for something difefrent? If so where is it going?
    Mods feel free to move if it's already being discussed.


Comments

  • #2
    ART6
    Registered Users, Registered Users 2 Posts: 2,629 ✭✭✭ART6


    The aspect I can't get my head around is that NAMA is taking over toxic debt at a "haircut" of up to 45% or more. The result, it seems, is that all of the banks involved will then require more funds from the taxpayer, who will in turn acquire shares in those banks. So I, as an involuntary investor, must first bail them out of insolvency but at a discount that provides me with a very remote possibility of breaking even when my grandchildren become adults. Meanwhile I become the proud owner of worthless stock. HMJ I can't resist the temptation to invest:rolleyes:


  • #3
    ei.sdraob
    Closed Accounts Posts: 9,364 ✭✭✭ei.sdraob


    Anglo Irish Bank is the largest contributor of assets to Ireland's "bad bank", the National Asset Management Agency. It expects to transfer loans with a nominal value of €35.6 billion to NAMA over 2010 which would see the risk-weighted-assets fall to €43 billion.

    says wikipedia

    NAMA is a farce, the more a discount NAMA gets the more money we have to inject directly into banks :rolleyes: of course we had people claiming a year ago that this would not happen! :pac:


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