Ireland hiding a default?

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Eternal Student
Eternal Student's picture
Joined: 06/14/2011
Hat Tips: 2162
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Ireland hiding a default?

Saw this on KD's site today:

"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 admin on 11/08/2014 - 06:05
jlee2027's picture
Joined: 06/15/2011
Hat Tips: 1286
Posts: 212
Good catch

90% off....panic!

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