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

Spanner Island

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Feb 22, 2011
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23,973
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...

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...
 


daveL

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Oct 29, 2010
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19,367
The article said that the banks will be paid an administrative fee [by NAMA] to manage the loans that NAMA took off the banks in the first place.

I can't wait until emigration time, July 1st!
jesus h christ

rewarded for doing the work they should have been left to do in the first place

yet we are 100bn worse off for it
 

hammer

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Joined
Jul 6, 2009
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58,180
And even if NAMA released all properties for sale you cannot get finance from any bank unless you are a consultant earning €250,000 per annum or a senior public servant with guaranteed employment.

At that aint going to change anytime soon.
 

gerhard dengler

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Feb 3, 2011
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46,739
NAMA will make a profit :) by hook or by crook.
NAMA made €1.1 billion loss in 2010.

NAMA has made a "profit" €526m year to date - without posting an impairment charge.

NAMA is going to have to make a huge profit in Q4 2011 if it is to absorb 2011 impairment charge for the year and to rectify the cumulate loss €574m to 30th September 2011.
 


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