Raffaello Follieri became the fall guy for any accusations against the Catholic Church in the 2007-2008 US housing market collapse. He had links to both Democrats and RINOs, which ensured bipartisan cooperation.
But what happened after the bottom fell out of the real estate market?
The majority of the Roman Catholic dioceses which took out those non-recourse loans from Irish banks declared bankruptcy.
It's worth noting Peter Sutherland had strong ties to and likely influenced the Irish banks to issue those loans in the first place, but, of course, I have no way of proving that.
The fact these were non-recourse loans meant the dioceses did not have to pay them back. They merely had to turn over the real estate they had put up for collateral, which was now worth pennies on the dollar.
So what happened to these Irish banks? They were essentially left on the hook to pay back US victims of Roman Catholic pedophile priests? But wait...
U.S. Bailout Funds Saved European Banks -- Without Much Transatlantic Reciprocity
Raffaello Follieri became the fall guy for any accusations against the Catholic Church in the 2007-2008 US housing market collapse. He had links to both Democrats and RINOs, which ensured bipartisan cooperation.
But what happened after the bottom fell out of the real estate market?
The majority of the Roman Catholic dioceses which took out those non-recourse loans from Irish banks declared bankruptcy.
It's worth noting Peter Sutherland had strong ties to and likely influenced the Irish banks to issue those loans in the first place, but, of course, I have no way of proving that.
The fact these were non-recourse loans meant the dioceses did not have to pay them back. They merely had to turn over the real estate they had put up for collateral, which was now worth pennies on the dollar.
So what happened to these Irish banks? They were essentially left on the hook to pay back US victims of Roman Catholic pedophile priests? But wait...
U.S. Bailout Funds Saved European Banks -- Without Much Transatlantic Reciprocity
https://www.europeaninstitute.org/index.php/ei-blog/106-august-2010/1119-us-bailout-funds-saved-european-banks-without-much-transatlantic-reciprocity
Archived link - https://archive.ph/GNrQB
Nope. the US taxpayers funded the majority of those payouts...