Are they for real?

daviddwyer

http://www.examiner.ie/archives/2009/1110/ireland/plans-for-nama-to-spend-euro25bn-on-professional-fees-crazy-105213.html#ixzz0WYAeYzO3


2.5 billion :eek:

This goverment should be shot!!

Hey whats the bet that their christmas holidays will start on the 10th of December and then by the time they return in Feb they will hope we have forgotten about it all!!!!!!!!!

SLUSK

daviddwyer wrote: »

http://www.examiner.ie/archives/2009/1110/ireland/plans-for-nama-to-spend-euro25bn-on-professional-fees-crazy-105213.html#ixzz0WYAeYzO3


2.5 billion :eek:

This goverment should be shot!!

Hey whats the bet that their christmas holidays will start on the 10th of December and then by the time they return in Feb they will hope we have forgotten about it all!!!!!!!!!

Ireland in a nutshell, very little value for money. If you have any brains and qualifications you should emigrate.

RealityCheck

Its a Government stimulus plan for all the accountants, auctioneers and lawyers . I suppose the money will end up somewhere, revenue, retail etc. Its certainly 2.5 billion better spent than the 54+ billion that we are putting into the blackhole that is the banking system. At least we might see some return on investment in the economy overall :rolleyes:.

Absurdum

There is no mention in the article about where this figure came from, so I'd take it with a pinch of salt. For now.

SLUSK

RealityCheck wrote: »

Its a Government stimulus plan for all the accountants, auctioneers and lawyers . I suppose the money will end up somewhere, revenue, retail etc. Its certainly 2.5 billion better spent than the 54+ billion that we are putting into the blackhole that is the banking system. At least we might see some return on investment in the economy overall :rolleyes:.

People used to laugh at me when I said you are better of flushing money down the toilet than paying taxes... Looks like I was right after all!

RealityCheck

Absurdum wrote: »

There is no mention in the article about where this figure came from, so I'd take it with a pinch of salt. For now.

The figure was mentioned in the NAMA draft business plan that Lenihan presented to the Dáil a few weeks back.

Dannyboy83

I presume that's €2.5 billion split across the next x number of years?

Lenihan might be a FF'er, but even he would not stand for an upfront payment of €2.5 billion, while trying to reduce the debt.

If he does, then we need to have riots and get the ECB/IMF in here asap.

wantolose

daviddwyer wrote: »

http://www.examiner.ie/archives/2009/1110/ireland/plans-for-nama-to-spend-euro25bn-on-professional-fees-crazy-105213.html#ixzz0WYAeYzO3


2.5 billion :eek:

This goverment should be shot!!

Hey whats the bet that their christmas holidays will start on the 10th of December and then by the time they return in Feb they will hope we have forgotten about it all!!!!!!!!!

ya and then the bloody gobs///ts will be around the world in 40 days for st paddys day, saying they are trying to create jobs and get people to invest...when we all know they are off on a big piss up at our expense!!!:mad:

old boy

but have they not saved that amount by not paying the christmas bonus, remember lenihan is a lawyer married to a lawyer, hannifin is married to a lawyer, yeah i know its the cynic in me.

whatnext

looks like a bit of tabloid Journalism to me.. all headline no story.

They dont even back up the headline or refer to it in the body of the text.

Seems to me that the Examiner needs a red banner logo to join the rest of the red top brigade

I read the draft bill and didn't see where he got the €2.5bn from.

Boskowski

Hey Guys, if you're so interested in the subject I'd recommend reading the NAMA draft business plan that is available quite publicly. All the details are there for everyone to read.

And if you did that instead of speculating whether its true or tabloid or up-front or whatever you would find out that it's actually quite true. NAMA intends to spend roughly 240 million per year over the next 11 years on administration and fees and expenses.

http://www.irishtimes.com/focus/2009/namaplan/index.pdf

Page 10, Table 5

Seth Brundle

would caps be set on the maximum daily rates, etc.?

Boskowski

I don't know. But.

If you're committing daylight robbery via legislation, screwing the country and its population on an unprecedented magnitude you might as well have the cheek of having a built-in great time for all your sponsors and cronies (240 million a year, whahey, get the champagne out). If you screw everyone big you might as well screw everyone really big.

I'd like to believe caps would be somewhat counter-productive on that front.

He already stated that obviously he needs to attract 'the best' for the job in order to make this 'work'. I can only assume that 'the best' will surely cost 'the most'. He also already declared his unwillingness to disclose figures for CEO and board members. But sure we'll be alright as long as we can watch 'the Apprentice' and the fkn English twin morons on X-Factor.

But really I don't know. My cynicism is getting carried away with me.

whatnext

I did read the business plan too, did you get as far as the second paragraph on page 13???

Boskowski

whatnext wrote: »

I did read the business plan too, did you get as far as the second paragraph on page 13???

Is that more fees then, is it?

whatnext

realcam wrote: »

Is that more fees then, is it?

no, they are the same as the ones refered to earlier in the document.

meathstevie

Good stuff that is, if it's the same people than the ones who wrote the business plan for the construction of the Luas and the Port Tunnel we'll be looking at at least €10 billion worth of fees...