NAMA architect Peter Bacon described Anglo Irish Bank as a Celtic Chernobyl in an interview on Newstalk radio this morning. The government have already pumped 22 billion into Anglo, Newstalk report
Doctor Peter Bacon has told Breakfast here on Newstalk theres much we still dont know about Anglos liabilities, and the full picture wont be a pretty one.
There is a large property investment portfolio that is not eligible, as I understand it, to go into NAMA he said.
That resides to a significant degree with Anglo.
So I think that Anglo story is going to continue I dont think its at an end he added.
No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .
Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm