Take a look at the last paragraph from the front page story of the Irish Independent today:
One of the biggest problems is that Anglo’s staff are mainly skilled in property lending, but the EU does not want the bank to build up a major exposure to that sector again.
Well clearly the staff were not “skilled in property lending”?
But read the headline and note the date: July 12, 2010. “Economic crisis: Final bill for Anglo may be €33.5bn”
This figure is likely far more. As Peter Matthews said on June 16:(start at 9.00)
That €22bn loss is actually €32bn, and perhaps if we add the Central Bank loan we might get closer to €43.5bn. But I ain’t no expert.