Tuesday, August 21, 2007

Dublin in the rare old times

Ormond Quay then: one of the dowdier northside quays.

Ormond Quay now: an unregulated Dublin-based conduit/pass-through off-balance sheet vehicle of German bank Sachsen LB with €12.57 billion in assets as of June 30 of which residential mortgages are €7.09 billion, all financed through lower yielding commercial paper against assets which are now potentially seriously impaired.

But that doesn't matter because it has a cool Irish name.

UPDATE: There was also a George's Quay. At least in that case they were looking out the window of the International Financial Services Centre at it.

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