- Feb 3, 2011
Peter gives me money to buy a home.Yeah, we're 10 years into this crisis now. A whole fvcking decade. But the same old shills are still trotting out their garbage.
I start to default on my payments to Peter.
Peter sells the loan to Paul.
Instead of me owing and repaying Peter, I owe and repay Paul now.
As regards the Irish Central Bank data, they only include Peter's data. And as far as they are concerned Peter's loanbook has improved.
But Paul is owed the money instead. I have still to repay Paul.