Ireland hiding a default?

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#1 Sat, Jul 23, 2011 - 7:25pm
Eternal Student
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Ireland hiding a default?

Saw this on KD's site today:

https://market-ticker.org/akcs-www?post=190583

"THAT didn't get any press! It sure didn't show up on CNBC! A buyback of Tier 1 and 2 Sub debt at a 90% discount? You mean at a value of ten percent of it's face, right?

That would be a default, me thinks. And who would take that deal? That's simple: Someone's who's convinced that if they don't they're going to get zero."

Edited by: Eternal Student on Nov 8, 2014 - 5:05am
Sat, Jul 23, 2011 - 11:55pm
jlee2027
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Good catch

90% off....panic!

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