Anglo junior bondholder expects to get every cent back - Sarah McCabe -> independent.ie/business/iris … 04389.html
Biggest problem I have with the Irish public is that they go nuts over a water charge, but not this.
Not only a multiple of the cost, but it was never ours to begin with.
The pinnacle of crony capitalism.
Corrupt to the core.
Anglo payout ‘U-turn’ sparks uproar - Shaun Connolly -> irishexaminer.com/ireland/an … 00846.html
Many (but of course not all) people protesting over water charges pay little or no tax, so they don’t feel like paying off bondholders affects them.
It seems from the article that this situation is similar to the unwinding of a bankruptcy where there may be enough coming out of an estate to pay all creditors who are left in, at least partially. Does anyone know if the Irish government can actually intervene in this process to stop payments to select creditors such as the junior bondholders? And probably such an action, if taken, might only kickoff another legal battle.