- Feb 22, 2011
Since the first time I heard about NAMA I knew it would be a f***ing disaster... just another 'state' monolith packed with overpaid parasites that will last for years if not decades, achieve f*** all and cost us all a bloody fortune...NAMA to reduce number of developers it manages itself - Irish, Business - Independent.ie
Is this being made up as they go along.
I heard many trying to sell the concept at the time and since... I've never bought it for a second.
NAMA is a disaster. It's prevented the real floor in property from being reached quickly which has resulted in the slow endless spiral we've endured for 5 years now with idiots calling the bottom of the market several times a year, only to proven wrong every time.
NAMA has done little other than to create an artificial floor under the property market.
This has created uncertainty about where the real floor is and I suspect was just another mechanism set up to indulge 'establishment' parasites and vested interests more than anything else...