Comments on: Making NAMA Work – Complete the Money Circle

By: LL

LL — Tue, 16 Feb 2010 08:25:44 +0000

Maybe this is simplified too much but doesn’t basic secondary school economics tell us that a bank loans out ten times more cash then it actually has, if that is the case why are the government buying a debt of 77billion for 54billion? Why don’t they give the banks the cash value of 7.7billion fuck em off and let em be lucky they got that. The government are quids in the banks have broke even, social housing problems are solved. If you or I are skint and went to pawn something i doubt the pawn broker would give you roughly 60% of the items original value based on what he thinks he might sell it for, like fuck he would.

By: Bock

Bock — Mon, 15 Feb 2010 18:00:05 +0000

You really are taking the piss now, aren’t you?

Please say you were drunk when you wrote this.

By: Foolish Penny

Foolish Penny — Mon, 15 Feb 2010 13:25:04 +0000

Fucktards on this site – any action towards ‘doing’ anything – other than pissing venom online?

Bock – open up the RSS u turd.

Love,
FP.

By: AARGH!!!

AARGH!!! — Tue, 10 Nov 2009 23:40:56 +0000

im never comin back to the banana republic from my exile

By: Gary Ireland

Gary Ireland — Fri, 30 Oct 2009 13:57:18 +0000

It is confromnting to know that the Quinn family are not guilty of any form of abuse of the system by getting money from Anglo to buy shares in Anglo that is O.K. What a wonderful world.

By: Bock

Bock — Thu, 29 Oct 2009 23:39:24 +0000

Ask the Doyles if they’re shagged.

By: John

John — Thu, 29 Oct 2009 23:38:16 +0000

“Somebody got too much for their land or their buildings, they have it in a bank somewhere, and now the Irish taxpayer is picking up the tab”
More likely they invested it in buying a skyscraper in Dubai, or Poland-and they are shagged like everybody else.

By: Eric

Eric — Thu, 29 Oct 2009 21:48:57 +0000

Remember that game “Ring a ring a rosie pocket full of taxpayers money” Yea! the adult version.
Well twenty comments and nobody gets it.
You were all meant to lose your yer legal tender, and yer country and anything else ye might have on the road to serfdom. Brian Lenihan is a professional ye see, from a long line of professionals so he knows from family history that you, thinking that he is a fool, always works well. Daddy could sell ice to the Eskimo’s but junior knows the Eskimo’s were just robbed by da royalty so he sold da whole country complete with the lot of youse freshly indebted tenants. Aint he a chip off the ould block! Now remember, they all serve YOU and whatever they do, they do it for YOU!
Now back to da TV to watch the X-Factor. The nice man from the IMF will give ye a holler the minute the chains are ready.
See ya in the dundgeon!

By: Bock

Bock — Thu, 29 Oct 2009 18:06:55 +0000

Brian — It would take more than that to shock me. There’s room for all shades of opinion here.

By: Brian O'Doherty

Brian O'Doherty — Thu, 29 Oct 2009 17:49:08 +0000

Bock
Maybe you should think about Fintan’s allegation that …”now the Irish taxpayer is picking up the tab.”
Ask him: “When would that be?” and “How much will we taxpayers be paying?”
The reality is that the NAMA scheme provides for the banks to lend their property -whatever it might be worth- to the State/ taxpayer. Then, commencing in 4 years time and stretching over 4-10 years, the property will be returned in the form of cash- the sale proceeds of the property – which is estimated to amount to €54 bn in total- the same as €47 bn today , the distressed market value, + 1.5% interest. If NAMA, on behalf of the taxpayer, doesn’t get that much for the property, then the banks will have to make do with whatever it does get, less NAMA’s billions in costs. If, on the other hand, NAMA’s property realises much More than € 54 bn, ..well, the taxpayer will keep the profit, thanks. At no stage according to projections, will the taxpayer have to front up a penny. Meantime, he will have use of billions of the banks’ assets, to help finance budget deficits, saving him the need to borrow the same billions in international markets, or pay the same in extra taxes.
If this viewpoint shocks, then you can read more of the same at http://www.brianodoherty.ie