Banking Crisis Explained
How NAMA will lose €12 billion
What are the alternatives?
Banking Expert
Peter Mathews B.Comm. MBA FCA AITI
20 years experience recovering bad property loans
RDS Concert Hall
8pm Wed 21st Oct
€10 suggested
Watch Peter on Tonight with Vincent Browne last night:
tv3.ie/shows.php?request=ton … ideo=14972
Phew, what a relief.
I thought it would lose €20bn
-Rd
Fair play to Peter, he put on a great show last night on Vincenzo (‘fingers fingleton is a nice man and one of my friends so dont disparage him on my show’) Browne last night. Erudite, informed, calm, reasoned and the guy from Davy didnt even bother challenging him cos he know Peter Matthews was right
I’d say it will be a good evening in the RDS and well worth 10 euro.
20 Years expereince recovering bad property loans, eh, jaysus how time flies, the crash only feels like 3 years old but your man has been recovering bad loans for 20.
There are always bad loans. Even at the best of times.
-Rd
Just watched that - good show.
Didn’t realise David and Brendan Drumm are brothers…the most unpopular family in Ireland at the moment?
They’re not brothers - they’re not related at all. HSE man is from Sligo, Anglo is a Dub. And, frankly, I can’t see how anybody thinks their performance is comparable: David is a compete and total cowboy and has cost the state a god damn fortune. I’ve met David numerous times, the first time was nine years ago and suspected as much (cowboy) then… though I was already a bit of a property bear so we were never going to see eye to eye. I couldn’t understand how he got the top-job until it would later make perfect sense. Another time we met, v. soon after he got the CEO position, I told him he should “run, not walk to HSBC” and sell to them. The day they were nationalised I posted him a letter quoting the builders saying “this is our bank, we’ll screw the hedge funds etc.” and wished him the best (yes classless in retrospect but that bank screwed us around business-wise so… all’s fair in love and trading!).
Apologies if I got it wrong - just repeating what VB says on his show
No mention of this on the RDS website, or anywhere else I can see for that matter.
Saw Peter Matthews on Pat Kenny the other night - a very well spoken man - doesn’t lose the bap like so many others - any update on this ‘talk’ tonight ??
He was on the lunchtime show on Newstalk today pumping it.
Also heard him on Newstalk today at lunchtime. A most impressive speaker.
Peter Matthews was interviewed about NAMA on Drivetime this evening.
rte.ie/radio/liveplayer2_av.html?1_real,https://dynamic.rte.ie/av/live/radio/radio1.smil,real,200 at 01:13
Calls on Boards to banks be brought to account for the some 100 billion of bad lending - the principles of fractional reserving was abondoned…
77 billion loans taken over
performing loans 31 billion
bad loans 46 billion - max 11 billion will collect
bad assumption made by NAMA - 20% write down assumed is a fundamental error - as loans Irish banks made was 400 billion - 10% (Barclays experience in the 1990’s) would be 40 billion
A very good broadcast, and a very clear explanation of the situation by Mathews.
But Mary Wilson didn’t seem comfortable with him at all.
Maybe she’s only been trained to deal with evasiveness, ducking, diving and spinning, and can’t cope well with an interviewee who tells it straight up, calmly, and honestly.
Good show indeed but what sort of viewing figures does it have in Ireland?
Interesting mention of Peter Schiff by that guy: wonder if hes setting himself up as the Irish version?
(That was a rhetorical question, btw)
It seemed to me that Mary Wilson didn’t understand the subject matter at all and therefore couldn’t conduct the interview properly. Would have been interesting to see how Matt Cooper handled it.
That link didn’t work for me, just gave me the live stream.
rte.ie/news/2009/1022/drivet … 1,null,209
The one above worked for me starts at 1hour 13mins.
He is the only one that I have listened to that talks any kind on sense in relation to NAMA, which is destined to lose the taxpayer up to €20 billion. 80% of all the developers will be bankrupted, the banks will repay their higher cost debts and the people and the government are fucked - as the October tax returns will confirm.
Reporters talk in sound bites trying to sound intelligent and like they know what they are talking about. Nobody that has interviewed Peter Mathews is on his intellectual level or has given him the time to respond fully. They just talk from their notes and don’t listen. He must find it very frustrating. The main problem is that he arrived too late - the NAMA train has already left the station.
+1 I heard part of an interview he did on the radio during the week and the presenter didnt have a clue and was so bad as to interupt him mid answer to move onto another topic so she was either stupid or he was too close to the truth or possibly both. 
It was clear that Mary Wilson didn’t want to hear what he was saying and even resorted to questioning his qualifications to try to discredit him, asking was he an economist!
Matthews was on the TV on primetime a couple of times over the summer. He has been working with the economists very closely on the numbers. See for example the work he has done with Gurdgiev and Lucey. AFAIK he is a naturally shy chap who has only recently decided that this is so monsterous as to require him to come out of his shell, and good for him