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Irish banks blowing off some steam premarket following yesterday's surge after the government...

Sep. 17, 2009 9:22 AM ETAllied Irish Banks, P.L.C. ADR (AIBYY) StockIRE, AIBYYBy: Eli Hoffmann, SA News Editor
Irish banks blowing off some steam premarket following yesterday's surge after the government revealed more details about NAMA, the 'bad bank' that will remove toxic assets from banks' balance sheets. Government said it will pay €54B for loans currently worth €47B, based on their 'long-term value.' AIB -4.6% after gaining 26% yesterday. IRE -3.1% after yesterday's 16% gain.

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