http://www.bloomberg.com/news/2010-10-04/bono-partner-mckillen-s-lawsuit-may-hold-key-to-14-billion-in-u-s-loans.html
Oh wow, this is what they want to fleece the people or Ireland for.
More crap real estate, the real kicker is that it's all in the US.
Not 1 dime of that 69 billion that they are asking the Irish people to fork over is in anyway going to help them at all.
It's time for a real world change people by and for the common man.
Because the elite don't know what the hell their doing, but then again maybe they do, Lining their own pockets while billing it to the people.
When Dublin property investor Patrick McKillen bought a 21-story Boston office tower for $170 million in 2006, his lender, Anglo Irish Bank Corp., helped find an anchor tenant: itself.
Now McKillen, Anglo Irish and its U.S. headquarters at 265 Franklin St. are entangled in a lawsuit that may determine how the bank, seized by the Irish government last year, handles more than $14 billion of debt backed by U.S. property. The bank’s loans are tied to buildings including a Rodeo Drive shopping mall in Beverly Hills, California, and the century-old Apthorp apartment building on New York’s Upper West Side.
“Anglo Irish ramped up its U.S. lending and has a book of loans that would be very appealing to real estate opportunity funds,” said Ben Thypin, an analyst at Real Capital Analytics Inc. in New York. “Big real estate players have tried to pursue purchasing Anglo’s assets but have been tripped up by uncertainty around who is actually in control: the bank or NAMA.”
McKillen’s suit against Ireland’s National Asset Management Agency -- itself a tenant of his in Dublin -- adds to the financial chaos surrounding the bailout of the nation’s banks. The government said last week that it will take control of Allied Irish Banks Plc, the second-biggest lender, and inject extra cash into Anglo Irish, pushing the cost of the rescue to as much as 50 billion euros ($69 billion). A hearing on whether the case may proceed is set for
