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Why no public outcry over NAMA?

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  • 23-08-2009 3:16pm
    #1
    dblennon
    Closed Accounts Posts: 185 ✭✭


    It will be too late in september when the government says "we are going to take a long term view on the banks debt to value rates, and as such saves everyone except the voters who our elected officials are "supposedely" representing.

    I'm no idiot and completely understand the need for NAMA, but i think there is a gereneral perception out there that these loan books are going to be taken up at about 50% discount @ this price we the tax payer still takes a substantial risk!!

    obviously it is important to revive the liquidity of the banks so that some resembalence of normal banking can resume. It seems to be likely that no matter what price we pay **70+%** the banks will require another injection of cash, so if we are making a decision to save the banks, why are we not investing further in the banks rather than bailing them out for the discracefull lending practices.

    and since these very large developers can walk away, most protected by the best solicitors and limited liability, why wouldn't they.

    is NAMA going to be accepted by the tax payer??


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    #2
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Most people are to busy watching east enders or some other crap. They spend all their lives watching TV while the bankers watch their fortune grow.


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