Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Has the strength of the Spanish Market being Underestimated? › Re: Re: Has the strength of the Spanish Market being Underestima
Well I agree everybody has to pay taxes and off course mortgage rates rise and fall also – and off course during the boom banks lent money to anything with a pulse. However Ireland was slightly different in the sense of Anglo Irish and Irish Nationwide. Anglo Irish cooked the books but also Sean Fitzpatrick and David Drumm took directors loans both for huge amounts of money – one example of Irish Nationwide is that Mr. Fingleton who ran the bank at the time gave a loan of 2.5 million to a lady friend to purchase a property and never asked for income details – this is only one example. It is not just a case of the banks like many other countries over lending – this guys will never see prison.