Call it the limbo of bad personal style: a realm where the players at least flout mores and where they demonstrate gross interpersonal, if not always professional, incompetence.
The idea is being floated in political and banking circles that a NAMA-style "bad bank" - similar to the model established in the Republic of Ireland - could be set up to remove these debts in the hope that this might free up bank lending once again.
Republican wonks may complain that European-style socialism is bad economics, but, really, the root fear is that the wrong political economy can wreck a culture.