Fixing the broken banks
Bankers are in their bunkers, pundits are touting quick fixes, and the government has its work cut out
Three financial institutions have annual general meetings this week. They should be the last for two of them. Irish Nationwide, burdened by property loans, has no future. Nor has Irish Life & Permanent, not in the current for many way as the business model for its banking arm is broken. AIB must have a future because, unlike the other two, it is - as a big clearing bank - central to our financial system.
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