Anglo Irish Debt Buyback Is Said to Be Considered by Ireland’s Government → bloomberg.com/news/2010-09-2 … nment.html
So basically, Anglo are going to partially default on their subordinated debt holders and buy back debt at 1,2,20 ? cent in the euro.
Wasn’t this what McWilliams and many on the pin advocated two years ago?
Oh I forgot, the government had to waste billions on recapitalising Anglo and setting up NAMA first.
What a bunch of idiots
Eh, it was guaranteed. Once the guarantee expired they could buy it back at a larger discount. Everybody thought they should and would this. Why are you crediting McWilliams?
Because he advocated it before the gaurantee. Everybody didn’t think that they should and would do this. In reality, this was and is the only option open to them. Default.
businessandleadership.com/econom … p-akin-to/