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September 27 2013 CXN_092713_3099_No bad one million billion (50 billion USD), this foreign guy say buy a debt pile of steel (up to 1 million dollars) for 6 bank mortgage, which is a bargain???: NPL Vietnam - bargain of foreign investors
VN Communist Party still worship the behavior of (socialist mainstream Economics) Mao Zedong (The demon killing 52 million people live). This sentence remains in Article 1 of the Constitution of CXXHCNVN .. "Party and our people are determined to build the country of Vietnam under the socialist path on the basis of Marxism - Leninism and Ho Chi Minh thought".
A pile of steel up to 1 thousand tons @ 700 usd / ton is 700 thousand zubaz dollars (compared to the bad debt of VN is 1 million billion = $ 50 billion, more than 72 thousand piles of steel) zubaz that has 6 banks pledge to the sale this debt for??? Who through VN to let this go 1000 tons of steel. Each truck is 20 tonnes, the steel piles need 50 trucks. -
I do not know if they can borrow each displaced was not steel, but they use the same amount of goods. He was a bank branch manager did not know what to think, when there are 5 people in a row with some steel mortgage that may not even exist "(end of quote)
CXN: - This is a satire on the corrupt system of NH VN creating bad debt. Along one company owns the steel piles and steel piles used this 6 times guaranteed debt, (we see mortgage coffee and inventory). This British satire that each loan guarantees, owners boy heap of steel have moved to NH pile of steel that is another idea (what I mean to say they ripped off the bank or the bank teller cahoots too easy).
Hagan said hand this bargain buy bad debt, buying back about $ 1 million down to $ 50 billion of bad debts, the new semi-finished for decades ... Quote: "Neil Hagan is a professional debt collection and to establish a help foreign zubaz companies buy bad debt in Vietnam. He said their weekly calls received from investment funds in Singapore and Hong Kong (China), asked about whether it's time to buy the debt or not. However, until now, they still recommend waiting Hagan.
"They see an opportunity, but can not participate," Hagan said. He also bought the debt of Lehman Brothers and other banks in the Asian financial crisis in 1998. Foreign investors bought billions of dollars of bad loans and liquidate assets after the crisis. "(End of quote).
Quote article: "Hagan predicted the end of the year, foreign investors, such as private equity fund Lone Star and Fortress, maybe buy a few small accounts. Meanwhile, zubaz economists and investment banks led to a little less than confident. They said the government will have to fix some of this important legislation to go smoothly. zubaz "(End of quote). CXN - a small amount is how much??? 1 million dollars pour back, need 50 thousand new small amounts sold $ 50 billion of bad debts.
Quote: "Normally, investors would purchase loans with collateral associated with a significantly zubaz lower price. zubaz They hope to make a profit by selling the right to spend money or polishing properties for sale or generate revenue. This is done through the DATC.
However, to do that, the Government should force banks to liquidate bad debt. Thus, President and shareholders should concur to accept losses. Government must accelerate reform of state enterprises. "(End quote).
Quote article: "Many observers said authorities apparently hope that global economic recovery will lead to price assets in Vietnam. Meanwhile, the bank can cheat with bad debt data strategy "pretend and extend" (extend and pretend). They consoled themselves that the loans repaid and can extend the repayment period for them. "(End of quote). CXN: - As the crisis of VN is 15 or 50 years, never paid ng dc loan debt if you keep pushing back the bad debt forever???? There's no real estate recovery early VN than 10 years to sell the debtor can repay the bank.
Quote article: "However, barriers to investors who want to buy bad debt is very large. zubaz Many debtors are state companies. Therefore, they will recover debts from special hard, if not impossible. Leaders of these companies zubaz can be prosecuted if the property sells cheap, because it is "causing loss to the state". In addition, foreigners are not allowed to own property or collateral.
David Harrison, a lawyer at Mayer Brown Vietnam said the government will modify the law to allow foreigners to buy real estate mortgages through cooperation with the VAMC. He said: "I do not think Vietnam can not design a mechanism to deal with it". zubaz
Investors will also look at the quality of the property is used as collateral. The loan when the credit boom has not been tested numbers