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Concern and Rumours about Health of Irish Nationwide says Guardian

national | consumer issues | other press

Sunday March 16, 2008 03:22

by clstrfck

Report this post to the editors

will bert send in the helicopter money?

Concern is also growing that, after Northern Rock and Bear Stearns, another bank casualty is looming on this side of the Atlantic. Many are now focusing on Irish banks, which have lent aggressively during the property boom. Irish Nationwide, which was recently given a 'C' rating from Moody's - not a ringing endorsement - is at the centre of rumours. The bank, with assets of €16bn, had a reputation for offering 100 per cent loans on property, and took equity stakes in many deals.

http://www.guardian.co.uk/business/2008/mar/16/jpmorgan...risis

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