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Nama Limit Raised to €20 million


deiseguy

Well-known member
Joined
May 11, 2009
Messages
1,346
I know it was almost a month ago but the lower value for loans or loanbooks to be transferred to Nama was raised to €20 million from €5 million and I don't remember any strong reason being given other than some suggestion about timeliness. It just ran with me today could it be that loans under €20 million might not have enough of a balance to generate enough fees for the professionals? After all is there not a provision in the Nama budget for several billion in professional fees?
 


Gemlarkin

Active member
Joined
Oct 2, 2010
Messages
239
The purpose is to save putting more capital into BOI

The purpose is to save putting more capital into BOI.
 

SideysGhost

Well-known member
Joined
Nov 30, 2009
Messages
17,631
We are back to pretending the banks are in a better state than they really are
And when even RTFF news tonight finally admitted something I've been shouting about for 2 years - that all the banks are currently in a credit deflation cycle and running down their loan books. Overall credit to Irish residents and businesses has been steadily falling since April 2009 - this means that each month since then Irish citizens and businesses have been clearing off more existing debt than taking on fresh debt.

This of course means that over time all the banks' old income streams from the interest and capital on all the old loans gradually dwindles away - and there is very little in the way of fresh income streams from newer loans, and certainly nowhere near enough to match the income streams that are disappearing.

This means the banks are becoming, if you can picture such a thing, even more insolvent and even more unviable and even more loss-making than they were 2 years ago when St Lendahand Guaranteed them.....even though it was already obvious on the Central Banks own figures a month prior to the Guarantee that this credit deflation cycle was imminent and unavoidable.

The last two years of the Govt banking policy then have been an act of monumental stupidity/incompetence/corruption. These banks are toast. And not a cent of the NAMA/"recapitalisation" money will ever be seen again. You've all just being stiffed by a criminal conspiracy masquerading as a Government.
 

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