LouisCribben
Registered User
- Messages
- 337
I'm reading a lot of David McWilliams articles recently.
He is of the view that it was wrong for the state to save the banks especially Anglo, because of the massive cost to the state from buying assets for potentially less than they are worth.
Naturally the taxpayer is the main potential loser from the bail out of the banks.
Who are the winners ?
I guess it's the creditors of the banks (excluding bank deposit holders who are guaranteed payback by the state) who are the winners.
Who are these creditors ? Where for instance did anglo get the money to lend to the property developers ?
To the creditors in question, Brian Lenihan must be a god like figure.
He is of the view that it was wrong for the state to save the banks especially Anglo, because of the massive cost to the state from buying assets for potentially less than they are worth.
Naturally the taxpayer is the main potential loser from the bail out of the banks.
Who are the winners ?
I guess it's the creditors of the banks (excluding bank deposit holders who are guaranteed payback by the state) who are the winners.
Who are these creditors ? Where for instance did anglo get the money to lend to the property developers ?
To the creditors in question, Brian Lenihan must be a god like figure.