Watching the news tonight I noticed that yet another estimated cost/loss/deficit etc has been way off the mark?
The Queen & Obama visits. "Its gonna cost €20m". Eh! Seriously? OK then, we will be happy with that.
Whats that you say? "Sorry, its more like €36m, sorry".
Of course other examples probably start with the amount Anglo was going to cost.
I also remember a stress test that some folk (cant remember who) carried out in the summer of European Banks. There was a figure quoted that the banks would need recapitalisation of €2billion.
And what did it end up a few months later? €120billion!! How far out was that? And it will probably be even more now.
Why are so many of these expert opinions so far wide of the mark?
The Queen & Obama visits. "Its gonna cost €20m". Eh! Seriously? OK then, we will be happy with that.
Whats that you say? "Sorry, its more like €36m, sorry".
Of course other examples probably start with the amount Anglo was going to cost.
I also remember a stress test that some folk (cant remember who) carried out in the summer of European Banks. There was a figure quoted that the banks would need recapitalisation of €2billion.
And what did it end up a few months later? €120billion!! How far out was that? And it will probably be even more now.
Why are so many of these expert opinions so far wide of the mark?