The people that have a billion borrowed!

By all accounts there is plenty of people/groups that have close to a billion euros borrowed from Anglo and the other Irish Banks.As their loan to values crumble,will their loans be called in?

I have close to 3m borrowed and have been told by my manager that if I was ever to default that the bank would follow me for ever.
I wonder will they do a deal with the big guys or will we never hear what deals have been done?

Here is some of the names/companies that I read have close to a billion borrowed from Irish Banks and many of their loans have to be seriously in trouble.

-Quinn
-Telecoms owner with Irish newspaper interests(heard he has a billion borrowed personally from one troubled Irish bank)
-Ballymore
-Quinlan Private/Derek Quinlan
-Liam O Carroll

I am sure others here on the pin can name other people/groups.

Will there be one rule for them and another one for the smaller borrowers?(Not that 3m is small it feels huge to me)
Will some be too big to be allowed fail?
How would a bank taken over by the Irish government deal with them?

:question: :question:

See, your problem is that you need to go get 300m… 3m is small beer. There are pubs with more than that in overdrafts…

Ah but if you had invested your 3m in Anglo stock, then that would be a different story… :nin

If you owe the bank £1M that is your problem, if you owe the bank £1B, then that is their problem!

I’ve a feeling that this is the unstated problem. Amidst all the publicity and statements that will issue will we hear what the policy will be towards the bad developer debts?

And now that a handful of rich men owe the banks a billion each and can’t pay, it’s a problem for everybody, since these rich men don’t want to become poor, they get the government to socialise their losses and both you and me bend over and take it, though loss in value of savings, higher taxes and cuts in social welfare.

The system works! Yay!

I have friends with around €10m borrowed, all for property. As far as I can see their bank treats them with kid gloves. There certainly has not been any talk of repos or anything so vulgar.

You obviously don’t have enough borrowed, that is your problem. :wink:

Sean Mulryan, Gerry Gannon and Treasury Holdings are another three with massive borrowings.

Note, I am not implying any of them are in difficulty.

Now all we have to do is look at the latest substantial development of these 3 and we can start to estimate Anglo’s bad debts.

Not really, it delays the inevitable.

This thread is just encouraging very idle speculation. Unless you can link to a newspaper article or some other form of hard evidence please refrain from just throwing names out there.

:open_mouth:
What’s it tied up in? Development land or units?

I was out drinking with a banker this evening who has the job of chasing “non-performing” loans from “ordinary” people.

Was playing devils advocate about jingle-mail, emigration etc to avoid paying the loan.

Got a right bollocking of the party line, that the bank would chase you to the ends of the earth or find someone who would, to make sure you paid up.

When I asked about the likes of Fitzpatrick, the person said “well thats different, I only deal in unsecured loans”

So there you go folks, chuck in a few Anglo shares against your next loan app and you’ll be fine.

Sorry TUG but Anglo lent to someone

we now are responsible for Anglo’s debts

The public have a right to know who owes the money we will be forced to pay back if they fail and how much they owe.

Yeah so read my fucking post.

I love the new friendly non abusive pin,

It’s about to get alot more non fucking abusive pal.

8DD

chillax there killer

I’m not sure about Quinn and his liabilities. Also, I doubt that Liam Carroll has a billion borrowed.

One outfit who you’re omitting are Johnny Ronan & Richard Barrett. I would say that they almost certainly have borrowing of more than a billion.