Monday, May 4, 2009

Developers' Loans

The scale of the problem facing NAMA is neatly illustrated by this graph, based on figures by Joe Brennan of the Indo.
with indicate that developers' loans account for 58Bn. AIB is clearer the biggest lender but, relative to its scale of operation, Anglo is in a league of its own. Why we are pouring money into Anglo is beyond me. By what measure is Anglo systemic?

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