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Thread: Denis O'Brien, Michael Noonan and two Irish banks

  1. #31

    Default Re: Denis O'Brien, Michael Noonan and two Irish banks

    Quote Originally Posted by C. Flower View Post
    No, it does not mean that. It means that the person using the term considers that the loan is not in default.

    The term in Ireland has frequently been used when loans have actually been "rolled over" or extended forward with interest payments suspended.

    What would be called, if you and I did it, unpaid or in default.

    But, if the bank agrees to it, is called "performing".
    No, that is still performing. After all, if the debtor views the loan as performing, and they're the ones with skin in the game, why does anyone else's definition matter?

  2. #32
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    Default Re: Denis O'Brien, Michael Noonan and two Irish banks

    Quote Originally Posted by Hiding Behind A Poster View Post
    No, that is still performing. After all, if the debtor views the loan as performing, and they're the ones with skin in the game, why does anyone else's definition matter?
    If there is public money involved, or if this is costing my bank money and pushing up my bank charges, then I have skin in the game.

    This is not a question of "definition" - it is a question of whether or not loans are actually being repaid with interest.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  3. #33
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    Default Re: Denis O'Brien, Michael Noonan and two Irish banks

    Quote Originally Posted by Hiding Behind A Poster View Post
    Seriously? What else should a borrower be expected to do bar fulfilling the terms of the loan?
    I am saying that there is a difference between a performing loan and a loan "described as performing"

    Vast difference

    Banks have notoriously been unwilling to accept loans as non performing as they are an instant hit whereas extending terms and rolling interest keeps the debt looking good on their balance sheet

    If his interest is being fully paid, grand. If not there could be an issue

    Especially as he runs out of cash
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

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