Charlie Weston: PTSB -- a very middle-class mortgage meltdown
Published 01/04/2011 | 05:00
THE collapse of Permanent TSB into State ownership is a direct consequence of middle Ireland getting too heavily into debt.
Permanent TSB did not make loans to developers during the boom, and did not have any loans go into National Asset Management Agency (NAMA).
It did not stump up money to support any crazy schemes to build 50 houses on rural fields, miles from the nearest village.