Anglo Billions

[Noelys Guitar]

Elderfield just said he does not know the final figure so the 34billion is a figure out of the air.

[Macy]

Elderfield just said he does not know the final figure so the 34billion is a figure out of the air.

So much for Lenihan's line under the banks. If it's already discreditted, he has to resign after his indignation last week at accusations of getting the figures wrong many times before*.

*maybe he added a sneaky "so far" under his breath?

[Noelys Guitar]

Next up is the credit unions

The financial regulator also warned the State's credit unions are systemically underprovisioning against loan losses.

"We are finding systemically . . . underprovisioning in the credit union sector," Matthew Elderfield told the committee. "That's a worry to me."

Mr Elderfield said the regulator had discovered credit unions were underprovisioning by 40 per cent and that he intended on dealing with this problem.

[Noelys Guitar]

Elderfield on whether the 34/35 Billion would be enough
http://www.newstalk.ie/news/9regulat...anglo-costs56/

[OneRedArmy]

Why on earth is this news?!?

In other news, the future might be different to the present........

In order to know the full cost of Anglo, you need to know exactly how much every borrower will pay back until the whole loan book has run off (probably a couple of decades into the future).

Whilst this doesn't excuse how wrong the Governments estimates were, anyone looking for a fixed cost is a bone headed moron.

[Macy]

Whilst this doesn't excuse how wrong the Governments estimates were, anyone looking for a fixed cost is a bone headed moron.

And what kind of bonehead goes around claiming the figures are final and shouting down anyone even using his own worst case scenario figures?

[OneRedArmy]

And what kind of bonehead goes around claiming the figures are final and shouting down anyone even using his own worst case scenario figures?

A FF one.

But then you knew that...!