NAMA - "You dont know what you`re doing"

hammer

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I hear you.

Unfortunately 27% of the illiterate Irish electorate still believe that Fianna Failure are doing a good job & rescuing the economy.

They seem to have forgotten who got us here in the first place. Selective amnesia.
 


Disillusioned democrat

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You have no grasp of NAMA. All the threads from the past year will verify this.
That's the real beauty of NAMA - no one actually understands it and no one know's when it's going to happen. It's almost as if FF thought that if they pushed something as wrong-minded on NAMA at people they'd revolt, so FF could withdraw "gracefully" from Government and wait in the long grass for a decade or so before re-grouping. That hasn't happened - the opposite of calling their bluff, so as the get closer to the flexible "deadline" the keep throwing up new reasons for us to revolt - 70% more pay for the directors, an additional 20Bn here or there...and feck it, we still haven't taken to the streets - this leaving FF in a very bad place...they may actually have to go ahead with NAMA after all, and that will be the end of FF.

Anyone who says they understand NAMA and approve of it has to be insane - how can you understand and approve of something that is a moving target in multi-dimensions and has no real chance of success as it conflicts in every way with the real solution to our problems - become really competetive again, re-invest in education, get people back to work again - NOT rely on another property bubble to restore value to NAMA but at the expense of competitiveness.
 
D

Deleted member 17573

Can't see the problem - they are simply outsourcing the administration of the loans. It's the same idea as with FG's good bank. All the day to day work was going to be handled on an agency basis by the existing banks.
 

Disillusioned democrat

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I'm happy that with this post as with all of your other posts on NAMA, you show you don't understand it. You bring to the NAMA debate misplaced anger, but no intelligence.
Can't see the problem - they are simply outsourcing the administration of the loans. It's the same idea as with FG's good bank. All the day to day work was going to be handled on an agency basis by the existing banks.
The BIG difference between the NAMA and FG Good Bank proposal is that the bond holders and banks that took the risks, ala Anglo, are left to pay the price, NOT multiple future generations of Irish taxpayers (who I predict will be an endangered species before too long). The good bank is about getting credit going again. NAMA is about re-writing history and wall-papering over the mess FF left behind.
 

rubensni

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Can't see the problem - they are simply outsourcing the administration of the loans. It's the same idea as with FG's good bank. All the day to day work was going to be handled on an agency basis by the existing banks.
Not exactly. Fine gael were also proposing that Anglo would be wound up. The way Nama will operate, most of the loans it's buying are coming from Anglo and therefore most of the loan management will be done by Anglo employees.
 

rubensni

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...These are the people who are in charge of the world today. A small minority of severly damaged and unstable predatory fantasists.
SideysGhost, they're not total nutters, cuckoo or anything else, instead they're what pass for an elite or aristocracy in this country and will do everything in their grasp to hang on to the positions they have. The three most senior politicians in the country are all the sons/daughters of Fianna Fáil TDs and therefore the status quo has been very beneficial for them.

It's class warfare.
 

GDPR

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The BIG difference between the NAMA and FG Good Bank proposal is that the bond holders and banks that took the risks, ala Anglo, are left to pay the price, NOT multiple future generations of Irish taxpayers (who I predict will be an endangered species before too long). The good bank is about getting credit going again. NAMA is about re-writing history and wall-papering over the mess FF left behind.
The big difference between NAMA and FG's "good bank" is that the ECB are fully behind NAMA, but won't touch FG's proposal as it involves banks defaulting and the ECB won't have that. No one outside of FG supports their proposal, indeed quite a few FG insiders aren't too happy with it either.
 
D

Deleted member 17573

The big difference between NAMA and FG's "good bank" is that the ECB are fully behind NAMA, but won't touch FG's proposal as it involves banks defaulting and the ECB won't have that. No one outside of FG supports their proposal, indeed quite a few FG insiders aren't too happy with it either.
The only one inside FG who supports it is Enda - and that's because he doesn't understand it. Bruton knows it's not a runner, but also knows that he will never have to come forward and acknowledge this as NAMA will be too far progressed before he's in a position to do anything about it.
 

hammer

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And deflating the economy by another €12 billion by 2015 or so will make those performing loans get less performie :)

S23 reliefs must be introduced !!!!!
 

JimComic

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Jun 8, 2010
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if they're paying some of these developers 200k, why doesn't name immediately take back say 150k to put against the developers debts?

i.e. instead of writing a chq for 200k, write ine for 50k but give them a payslip saying that effectively the developer has been paid 200k
 

hammer

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if they're paying some of these developers 200k, why doesn't name immediately take back say 150k to put against the developers debts?

i.e. instead of writing a chq for 200k, write ine for 50k but give them a payslip saying that effectively the developer has been paid 200k
Because the good news is that we get about 45% back in tax, usc, prsi etc........
 

gerhard dengler

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Feb 3, 2011
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Nama makes

Wow.

Less performing loans more profits.
No sign of an impairment charge in NAMA Q3 2011 results.
Therefore the operating profit €317m needs to be taken with a large pinch of salt, as well as €526m profit for the nine months to the end of quarter 3 2011.

The fact that NAMA booked an impairment charge €1.4 billion for 2010 based on 23% of loans performing (or 77% of loans not performing), it will be interesting to see the impairment charge for 2011 as non-performing loans rise to 79%.
 


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