NAMA - are you marching on Saturday?

onekeano

I am and here's my initial list of reasons.................

- If NAMA is so transparent how come they won't disclose what properties they are buying or who the developer is that is involved?
- If NAMA is so independent how come the NAMA executive are restrained from commenting on decisions about property portfolios they will be purchasing?
- If NAMA is so independent how come Brian Lenihan reserves the right to tell NAMA to reconsider offers on particular sites, take a site bought in Ballsbridge for say €400 million and NAMA offer €200 million. Then Mr Lenihan can tell NAMA to reconsider the offer made to a man who is a close friend of the Taoiseach who first appointed Mr Lenihan a minister - can this be right?
- Apart from the obvious madness of paying more than something is worth, it is quite clear the whole process is open to interference and collaboration between Fianna Fail and the developers.
- Unemployment has rocketed, huge amount of people have taken significant pay cuts and against that background the government wants to introduce a bail out that can only work if house prices increase!!!

Given all of the above, is it any wonder that shares prices in the major banks have already risen by around 2000% since the NAMA scheme was announced? It hardly augurs well for the taxpayer....

For all the reasons set out above I willl be supporting the March on Saturday @ 1pm from the Garden of Rememberance and would encourage others to do likewise.

Roy

granite man

Me and the missus will be there too. Its time the people's voice is heard.

Everyone needs to get out. And get their friends and family out too.

This could be the most important decision for this country that is made in our lifetimes, and that's saying a lot because I'm only 24...

People need to be informed where their money is going, because the vast majority don't have a clue. I don't blame them, because people have their own problems which need immediate attention right now. But signing off this much money to private investors, and getting NOTHING in return sets a frighteningly dangerous precedent in this country.


We are being robbed. Institutionalized robbery is still robbery.


If you stole food to feed your family you'd be arrested. Steal 65+ billion and you'll get 24+% of the vote.

Liam Byrne

Any protest marches elsewhere around the country ? If there's one in the mid-west, count me in!

Dannyboy83

They burned down city hall in Cork during the last revolution, anybody willing to chip in a few yoyos to cover the carbon tax on a gallon of petrol?

Inquitus

March if you like, but NAMA is a necessary evil for what has gone before. We could nationalise the banks, but that would feck things up more.

Much as I am loath to bail out the people who have brought about our dire circumstance, there is no alternative, this is the least painful option for us as a nation in the long run........and yes that it has come to this, and that this, is our best option is a terrible endightment of our current circumstance.

Inquitus

Inquitus wrote: »

March if you like, but NAMA is a necessary evil for what has gone before. We could nationalise the banks, but that would feck things up more.

Much as I am loath to bail out the people who have brought about our dire circumstance, there is no alternative, this is the least painful option for us as a nation in the long run........and yes that it has come to this, and that this, is our best option is a terrible endightment of our current circumstance.

Care to explain why exactly it's the least painful option?

I can only assume it benefits you in some way as if you were an ordinary taxpayer that had read up on NAMA, and the alternatives offered, you would see that it's by far the MOST painful option by far.

Inquitus

Rojomcdojo wrote: »

Care to explain why exactly it's the least painful option?

I can only assume it benefits you in some way as if you were an ordinary taxpayer that had read up on NAMA, and the alternatives offered, you would see that it's by far the MOST painful option by far.

I am a PAYE worker with a house and 2 kids, I have been blighted by almost every Tax increase to date.......guess I am just educated enough to know that despite how **** this is its the best option......

Inquitus

Inquitus wrote: »

I am a PAYE worker with a house and 2 kids, I have been blighted by almost every Tax increase to date.......guess I am just educated enough to know that despite how **** this is its the best option......

Care to explain why it is the best option though?

If you'd be so kind, seeing as your education is obviously superior to mine.

merlynthewizard

Inquitus wrote: »

I am a PAYE worker with a house and 2 kids, I have been blighted by almost every Tax increase to date.......guess I am just educated enough to know that despite how **** this is its the best option......

If that's the case would you agree with a revaluation? Would you agree in more transparency?Would you agree that members of FF etc should be prosecuted for taking the Michael...no pensions,the lot.

sherdydan

it makes me angry the way people keep giving out about NAMA, it is an absoloute NECCESSITY to the future economic development of this country, without NAMA things will be ALOT worse.

Fair enough labour have a plan that i feel would be quite feasible, but not as great as NAMA. it seems a more ethically correct plan (i.e we arent giving money to the b*****s who got us in this mess) but just not as effective as NAMA

then there is fine gael.... who have NO plan, all they do is whinge and moan.

sherdydan

sherdydan wrote: »

it makes me angry the way people keep giving out about NAMA, it is an absoloute NECCESSITY to the future economic development of this country, without NAMA things will be ALOT worse.

Fair enough labour have a plan that i feel would be quite feasible, but not as great as NAMA. it seems a more ethically correct plan (i.e we arent giving money to the b*****s who got us in this mess) but just not as effective as NAMA

then there is fine gael.... who have NO plan, all they do is whinge and moan.

Can you explain exactly *why* NAMA in it's current state is the best plan?


Seriously, can any of you pro-NAMA people actually answer that question?

sherdydan

im not saying it is the DEFINITIVE best plan there is, but that its the best one that has been brought to the table so far. i feel its the best option because of two points:

1)there is a possibility of actually MAKING money for the exchequer with this plan

2)its all quite low risk as the properties are all spread between seperate markets, therefore minimising risk.

now dont get me wrong i do realise that this is all dependant on all properties being bought for realistic figures, and to be honest i would be quite confident that it will be done as such

SkepticOne

sherdydan wrote: »

im not saying it is the DEFINITIVE best plan there is, but that its the best one that has been brought to the table so far. i feel its the best option because of two points:

1)there is a possibility of actually MAKING money for the exchequer with this plan

2)its all quite low risk as the properties are all spread between seperate markets, therefore minimising risk.

now dont get me wrong i do realise that this is all dependant on all properties being bought for realistic figures, and to be honest i would be quite confident that it will be done as such

I think you have to ask your self why, if it is indeed has such low risk profit making opportunities is the tax payer being forced into it? Nobody is putting their own money behind it voluntarily.

What do you make of the fact that the share prices of banks jumped up by over 25 percent on the news today on the amount the taxpayer is overpaying for these loans?

sherdydan

sherdydan wrote: »

im not saying it is the DEFINITIVE best plan there is, but that its the best one that has been brought to the table so far. i feel its the best option because of two points:

1)there is a possibility of actually MAKING money for the exchequer with this plan

2)its all quite low risk as the properties are all spread between seperate markets, therefore minimising risk.

now dont get me wrong i do realise that this is all dependant on all properties being bought for realistic figures, and to be honest i would be quite confident that it will be done as such

And how are they going to make money might I ask? And don't say that the property prices will rise. They wont go anywhere near where they were for decades and decades.

It's all high risk. If it the property and loans weren't so high risk then we would be given some details about them. You can guarantee that a lot of it is worth close to zero in real terms. I.e., nobody will EVER want to buy it.

sherdydan

SkepticOne wrote: »

I think you have to ask your self why, if it is indeed has such low risk profit making opportunities is the tax payer being forced into it? Nobody is putting their own money behind it voluntarily.

do you mind me asking how in christs name people are going to put there money behind NAMA voluntarily, its taxation, THE GOVERNMENT IS IN CHARGE OF IT!

aftermn

One death is a tragedy, one million, a statistic.
Nama is supposed to be about ensuring the survival of banking in Ireland.
It's true we need a workable banking system.
But why are we saving Anglo and INBS?
By all means save AIB and BOI. They have large branch networks which people can use, they have large customer base, they have access to payments clearing system etc., in all probably worth saving.
Anglo and INBS have none of these but have almost half of the bad loans, despite being relatively small operations.
I ask again, why are we rescuing these?
Could it be that they have some hold on our politicians?

Posy

I'll be working so I can't march but I'll wave at everyone as they go past!

sherdydan

maybe because they are the two banks who are most in the hole?

if theyre not saved, it wont matter a s***e how well supported BOI and ulster bank are, becuase the banking system will have gone to ****

SkepticOne

sherdydan wrote: »

do you mind me asking how in christs name people are going to put there money behind NAMA voluntarily, its taxation, THE GOVERNMENT IS IN CHARGE OF IT!

If it was a great deal they wouldn't have to force people through taxation, they would simply offer it to the market.

sherdydan are you going to back up any of your claims, or just continue spouting unsubstantiated **** for the whole thread?

Blackjack

Anyone got any better ideas than what's been proposed so far by all the Political parties?.

aftermn

sherdydan wrote: »

maybe because they are the two banks who are most in the hole?

if theyre not saved, it wont matter a s***e how well supported BOI and ulster bank are, becuase the banking system will have gone to ****

We don't need to save all banks.
We just need to save a banking system. AIB and BOI are more than sufficient to service the needs of the country. Let the others go and halve the amount of loans needing cover by NAMA.

Anyone got any better ideas than what's been proposed so far by all the Political parties?.

http://www.boards.ie/vbulletin/showthread.php?t=2055667261

sherdydan

people are so stupid these days. FF not once have said that this move is not risky, but people just stop complaining, there is NOTHING better on the table at the moment and SOMETHING has to be done

im done even trying to reason with you people on the anti-NAMA side and the anti Lisbon sides. all you people can do is complain, and say everything is a pile of s***e. well if thats how it is, F**K OFF and make a better plan yourself!

Blackjack

Rojomcdojo wrote: »

http://www.boards.ie/vbulletin/showthread.php?t=2055667261

So No then?.

Count Dooku

sherdydan wrote: »

im not saying it is the DEFINITIVE best plan there is, but that its the best one that has been brought to the table so far. i feel its the best option because of two points:

1)there is a possibility of actually MAKING money for the exchequer with this plan

2)its all quite low risk as the properties are all spread between seperate markets, therefore minimising risk.

now dont get me wrong i do realise that this is all dependant on all properties being bought for realistic figures, and to be honest i would be quite confident that it will be done as such

If there are any minor possibilities to make money there, we would have queue of investors to make money.
NAMA will ruin economy and as result, it will be no house prices growth for long time.
When 500,000 will leave Ireland next year, country will have supply of houses for 10 years and prices will be not driven by construction cost anymore

If there are any minor possibilities to make money there, we would have queue of investors to make money.
NAMA will ruin economy and as result, it will be no house prices growth for long time.
When 500,000 will leave Ireland next year, country will have supply of houses for 10 years and prices will be not driven by construction cost anymore

Properties, which cost now 200K, next year will cost 100K.
A lot of morons trusted to government in 2007 that fundamental sounds and bought on peak, now another morons trusts to the same liars that we reached bottom.

Amhran Nua

Blackjack wrote: »

Anyone got any better ideas than what's been proposed so far by all the Political parties?.

Both David McWilliams and Dermot Desmond have proposed workable alternatives. Amhrán Nua, my own group, have done likewise.

People should be aware that the march on Saturday is being organised by the Socialist Worker's Party, the same ones that protested to close down the Galway airshow, its their banner you'll be marching under.

SLUSK

why do alot of people advocate a system of private profits and socialized losses?

Jumpy

Amhran Nua wrote: »

Both David McWilliams and Dermot Desmond have proposed workable alternatives. Amhrán Nua, my own group, have done likewise.

People should be aware that the march on Saturday is being organised by the Socialist Worker's Party, the same ones that protested to close down the Galway airshow, its their banner you'll be marching under.

No one is marching under any banners.

Amhran Nua

Jumpy wrote: »

No one is marching under any banners.

Better tell that to them.