The Market "has lost contact with ANY bottom in some areas"

This is Eamonn Hughes from Goodbody quoting someone in NIB bank on the subject of housing and development land.

Full Commentary on NIB Results here as well as the reason for their writedown.

goodbody.ie/news/morn.html#2

Furthermore , and this is *very *strong language coming from NIB/ Danske !!!

I do not know if these are geographic areas riddled with Ghost Estates or sectors such as Bulky Retail or Heavy Industrial Parks , ‘area’ is just one of those words.

Finally we can get back to what Eamonn Hughes of Goodbody himself is saying .

Luckily for them the DOW bounced yesterday and those banks of ours actually rose today :open_mouth: