NAMA my arse
Last night i was lazying about and watched Vincent nightly or whatever its called.The guests were a stockbrokers expert and two bank consultants.All three knew there stuff big time.One of them was scary good at it.All three said NAMA will defo not sort out the countries prob and that the banks will look after themselves first and take care of their own foreign debts first.They said NAMA will not neccessarily get the credit rolling again.
The shit hot guy said that the NAMA figures are wrong,that there is a 14 billion euro error that will cost the gov 4 billion of a loss.
The gov have done the same thing with NAMA as they have done with every other thing they have touched.
made a balls of it,
I'm an accountant, and I can tell you that NAMA has a 99% chance of not working. The only way the banks are going to allow more credit into the country is if they start to post 'supernormal' profits again. This will be helped by NAMA but not as a consequence.
Incidentally, if by some stroke of luck NAMA pays off, do you think we're going to see any benefit from it? I doubt it.
They caused it
by giving out 100% + loans.The guy that said their is an error in NAMA said that the error is in the govs misinterpretation of performance loans and non performance loans.
Originally Posted by blankmannn
He also said that a reserve of 13.5% or so is a standard guideline for banks.That they keep this reserve at all times which they didnt thus causing the banking crisis.
The only people to blaim is the people of STATE Eirean, who are very greedy, big wages, stealing employment from the USA and being very disrespectfull to all our blow ins.
We are a dreadfull race of no hopers, last time the famine we managed to blaim our problems on the English, even then our lot made the famine worse than it was by hording food and letting it rot.
i could say more.
oh please do
Originally Posted by irishmanwithnomoney
I have said it before and I will say it again NAMA will bankrupt Ireland.
The Govt is offering an average of 70% on the banks loan books.
At the weekend it was reported in a Sunday newspaper that the Glass Bottle Site in Ringsend that was initially bought in the boom for 434 Million is now Valued at 60 Million.
Thats a drop of 85%.
If NAMA was buying it it would cost the taxpayer 70% of 434
Approx 290 Million which is 230 million more than it is worth.
The spinless tree hugging greens are supporting FF and their banker pals to the bitter end to the detritrement of the citizen.
When is the revolution starting ??
I think NAMA is only for the fat cats, to bail out the big builders, bankers, politicians, and big business. These guys have no regard for the ordinary man in the street
Best regards Feargal
Denis O Brien ? Two faced
Denis O'Brien who does'nt pay a penny in tax in this country has the fucking neck to tell the normal joe soap to make cutbacks, in his speech last night.
What a fucking cheek.
Denis when you start to pay tax in Ireland then you can lecture, other than that fuck off back to Malta or whereever you have your tax haven gaff
The International Monetary Fund will take over the running of Ireland if the Government does not inflict painful slashes to public spending, Health Minister Mary Harney claimed.
No they won't as the ECB cannot allow a eurozone country call in the IMF it would destabilise the EURO overnight.
However they may come in to examine fat Mary's expense account.