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 Post subject: IMF on Irish Banks: Still Sick to the Core
PostPosted: Sun Jun 29, 2014 10:22 am 
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IMF on Irish Banks: Still Sick to the Core, but of course, getting better... - -> http://trueeconomics.blogspot.co.uk/201 ... -sick.html

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Here's an interesting bit. We know banks have been slow to deal with Buy-to-Lets, parking bad loans in hope that current debtor will part-fund warehousing of BTL properties (via renting them out) until such time when prices rise and bank can foreclose on these. This strategy clearly maximises banks returns and is happy-times for CBofI, concerned with how good banks look on their 'profitability' side. But it is bad news for the economy, where investors (aka ordinary punters) are bled dry of cash to fund BTLs which will never return any fund they 'invested' in them.

IMF basically tells the CBofI and Irish authorities: you have to force banks deal with these BTLs and smaller CRE loans, i.e. foreclose earlier, not later.

there is more


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 Post subject: Re: IMF on Irish Banks: Still Sick to the Core
PostPosted: Sat Jul 12, 2014 2:50 pm 
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This page has such bad design. half of screen is empty with narrow long pillar through the middle.
Hard to read.

_________________
Why it was so windy there?... I am out.

For future reference, a 'soft landing' theorem:
06/2007: Central Bank predicts soft landing for housing
http://www.independent.ie/business/iris ... 96858.html
It's all grand


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