Government told of Quinn debt on eve of guarantee

Government told of Quinn debt on eve of guarantee -> independent.ie/business/iris … 62704.html

it is so obvious at this stage… FF leak heavy shit when the media and they are on holiday all this is huge but most journalists dont care “its not in the right timeframe” christ wheres that beer…

drip drip the truth comes out slowly
and like a frog in boiling water the public fail to react.

This is pure spin from the Lenihan camp put out to a few friendlies with nothing to lose on this story and a few scoops promised for the autumn. hardly likely that Neary is going to contradict anything

Lenihan camp will be spinning hard to get future gains.

Clear example of this is fact that NAMA will now underpay massively particularly to the nationalised banks so that it makes a profit and Leno can say he told us so. Hence dicounts are going up - expect anglo to have to almost pay to get their loans into NAMA - 77% discount at a guess - has to be below 80% but only just.

Much better now to load Anglo (bad guy in black in the corner of the saloon) with extra tax payers money and set it up for NAMA to make profits. Lenihan comes up smelling of roses in a few years.

Shouldn’t she be blind ?

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Oh sorry, forgot for a moment we’re in Ireland :unamused:

I suppose she’s blinded by that light sabre she’s holding.

St Luke’s. May the courts be with you. :-GC

Indeed the problem being that for every penny NAMA underpays we have to put the money in to the banks at the other end …

So how the fup do we get the ECB to pay for the guarantee?

The trick here is to screw the nationalised banks transfers into the ground. Expect no improvement on discounts of 80% on any of the Anglo and Nationwide.

This sets up NAMA for profits in the future and does not impact the remaining banks - you could cut them the odd break here and there if you really get the stuff for nothing from the dodgy duo.

No one is going to be able to put it together in a few years that say an extra €10b that went into the dodgy duo ends up as profit the other side in Nama. However FFers will then come out and say they were right all along about the NAMA project.

Remember its all about how you tell em plus and best of all your property pals can be set up with a nod and a wink to get some of the Anglo and Nationwide stuff on the cheap

PS it looks like IMO that Boyle has copped the FFer game