Soden: Nama should buy property to establish a price floor

Villa05

"The easiest solution, in my judgement, is that Nama has got the responsibility of establishing a base price, or a floor price, for property in the country," he said.

"Because if you woke up tomorrow morning and the headlines in the Thursday property section of the newspapers read that property prices had increased by 10%, the wonderful factor of greed would re-enter the marketplace, and you would find that there is a turn in the marketplace."

http://www.irishexaminer.com/breakingnews/ireland/soden-nama-intervention-would-bring-wonderful-factor-of-greed-back-to-property-market-563144.html

Interview starts on 'Part 2' at 12 mins.
http://media.newstalk.ie/listenback/49/thursday/1/popup

The former Bonk of Ireland man now working for the Central Bonk wants greed to return to to the property market, funded by the taxpayer through NAMA of course.

So after economically destroying the country, the people in charge have learned nothing and continue to be paid handsomely out of our taxes :mad:

Odelay

I read that earlier and couldn't believe he said such ****e. What is he on???.........................hunderds of thousands I guess. Does he really want to scare people into panic buying again?

Zamboni

Good gawd. I had to listen to that. He is completely disconnected from reality.
It sounded like Shane Coleman was in shock.

Solair

The mind boggles !

So let me get this straight: He thinks a highly indebted country that's currently being funded by the IMF due to its insane property bubble a few years ago should borrow yet more money to buy property to re-inflate a second property bubble..

I'm sorry but what planet is he living on?!

Since when has it been in the national interest to have overpriced housing?

I'm starting to think we are living in the 18 or 19tth century where landed gentry just tax the peasants to ensure that they can retain their luxury life styles.

The only difference is the landed gentry are now called property speculators, investors and bankers!

mikemac1

Pure nonsense

The Central Bank should have the very best people working for them, get rid of this clown

Monty Burnz

Soden is an idiot. Does he celebrate price increases in other fundamental human needs too? Does he pray for petrol price increases so that the oil companies we hold in our pension plans increase in value? Does he cheer increases in food prices? Or electricity prices.

What a clown.

jimmycrackcorm

5 things to know about Soden:
http://www.joe.ie/news-politics/newsmakers/five-things-you-should-know-about-mike-soden-006491-1

Sleepy

Why on earth are our taxes paying this moron's wages?

It's not like we can even use the usual justification that "the people of [xyz electoral district] elected him"...