Wilbur Ross is no longer a hero of the Irish nation. Three years ago the US billionaire did Michael Noonan a big favour. He relieved the Minister for Finance of a burden. A bundle of Bank of Ireland shares changed hands at 10c each. Noonan saved over a billion euro.
Ross, Fairfax Finance and a few other bottom-fishers had bought a pile of junk. Or so it seemed. Michael Noonan, the schoolteacher from Limerick, had wiped the eye of one of the US’s most ruthless vulture capitalists.
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