They're either brilliant or twisted or both
Either way, the fact they're involved with NAMA is fcuked up but not surprising considering their reach in global banking. They excel at acquiring fallible institutions and make trillions while knowing they can't be touched just because their 'interests' fail
After 3 months in the job the board of directors of NAMA will all be getting pay increases.Finance minister Brian Lenihan has given the go ahead to hike up the salary of chairman Frank Daly from 100k to 170k, while all the other directors will be getting inceased from 38k to 50k.
So while Brian Lenihan is cutting the wages of teachers, nurses, care workers etc he is increasing the wages of these financial overlords.The more information we find out about NAMA the more disgusting it gets.These totalitarian measures bear all the hallmarks of a tyrranical state.
Thats mad re the wages.. How do you guys find out all this stuff ? Im so shocked... But then I ask myself eh why ?
Although I don't really like to see them get a pay increase, NAMA is the most important thing that will happen in Ireland for the foreseeable future. If giving them a pay hike means that they'll try to do a better job then so be it
And tbh, those salaries are extremely low compared to the people that got us into this mess in the first place
Lets face facts here, NAMA is basically a nice comfortable bailout for the fat cat elites who ruined our country and which we now have to pay for with our taxes.And just because they are earning less than their counterparts in other countries doesnt make it right.
The bailing out of fat-cats is necessary if the country is to be bailed out unfortunately. They've done the damage and everyone knows that, and we'll all hopefully refuse to put up with the obvious over-zealous use of credit in future..
NAMA is there to 'buy back' assets from the private sector at a time when the private sector is unable to make those assets pay for themselves. In time the situation will improve and the assets now managed by the state will go towards helping that improvement develop into growth.. if it's done right
Thats the thing, i dont have much confidence in our government doing the right thing.This whole NAMA venture is a massive big gamble and one which i can see coming back to haunt us.We are heading for a financial catastrophe.Greece was only the tip of the iceberg i reckon.There is a much wider sovereign debt crisis which is unsustainable across Europe, Britain and the US and when this collapses your gonna see a nightmare domino effect crash.
My prediction is within 10 years the IMF will be in Ireland sorting out our budget, because there is not a snowballs chance in hell that NAMA will work.
It is created to protect the vested interests of the powerful few who fooked this country up with the property bubble. Its ludicrous. It has been suggested that all property prices have to do is rise by 10% in the next 10 years for NAMA to work, apart from the fact that isn't true, thats not going to happen. Unless of course the government has an interest in artificially inflating the house prices...
I'll go into more technical detail about why I think NAMA definitely won't work in its current form and why I think its criminal etc. in another post tomorrow, bit tired now.
Also it pisses me off how most people seem more worried about headshops than the fact that the government is gambling not only ours, but our children, and probably grandchildrens future on this ****ty plan.(Why won't somebody think of the children!!)
If anyone wants a good place to read about NAMA, I'd suggest reading Gurdygiev(definitely spellt wrong) a lecturer from UCD stuff about it, its pretty good.
EDIT: Also, just about the bubble in general I think this graph is an accurate reflection on where we've been and where we are headed.
Here's the actual graph. I reckon, we're either in the bull trap, or the return to normal part of the above schematic.
Rothschilds controlling NAMA?
Keep drinking that cool aid your on and live in la la land and wake up in the horror story when you been scammed
NAMA is a SCAM
Simple the property NAMA needs to buy was bought by the banks for example
~2 Billion Euros (of the total 165 Billions Euros in total involved )
NAMA will value it at possibily as low as 50% of its original value fork out 1 Billion for the property using tax payers money
They say in the future the property will increase in value to ~75% of the original price or about 1.5 Billion Euros and the tax payers will gain 0.5 Billion profit
The reality is best case is the property is really worth ~0.6 billion euro so we will pay 0.4 Billion Euro more than it was worth
Then the issue is the time span for the assumed rise of the property is 10 years and even if the property sld at 75% of it value the cost to borrow the 1 Billion Euro will eat up most of this assumed profit
The reality is when the property is worth ~30% of it original value in ten years time the tax payers stiffed for 0.4 bilion will also pay the interest on this loan which could easily be another 1 billion
So we might endup paying more than ~ 1.4 Billion for stuff that is worth ~0.6 Billion
If the total the tax payer after ten years forks out is more than ~2 Billion Euros for this crap property the banks will be laughing all the way to the banks big fat bonus pay cheques
singing "BANKERS SCAM PAY WONDERFULLY"
If we assume that is the case for all the 165 Billion on the line we could end up as tax payers owiing more than 165 Billion for stuff that is worth less than 55 Billion
The great great grandchildren will still be paying for that mistake and COWEN will go down in History as the biggest edit that sold Ireland out for a bankers song and allowed the Rotchilds to take over the Republic worse than the English crown ever did
But you can be sure most all the polititions who voted in the NAMA SCAM in ten years from now will get thier rewards in secret bank accounts in the CAMEN ISLANDS
I figure the lawns of Leinster house are not big eneough to stack the condemend
Here is the more technical explanation of the numbers involved
and they say the property is worth 30% of its original purchase price
WE need to convert into Icelanders LOGIC ASAP and say "NO" we the people did not vote for this scam and then we throw out the regime of leechers and let them pay for it from thier pockets
Ball aprk if we get stiffed with NAMA for 165 Billion Euros thats extra dept to the tune 40,000 per head or 120,000 per average family and factor in Interest in that and we could be staring easily a person dept of ~ 120,000 and ~ 500,000 euro per family .
Thats all dept you and your family could owe in 2020 before you buy or rent a car or house to live in
It will probaly take three years for NAM to totoally get going and we can expect the banks to keep things proped up until 2012 to 2013 so it looks like NAMA wasnt so bad
Then Expect the Rotchilds Bankers to pull the plug on the bath water when NAMA is well and truely used up and a new Regime is in power and they can balme the Cowen regime for the mess but wew the tax payer will get it in the neck
If we allow NAMA to get going we are TOTALY FOOKED
give the country back to the English and apologise for the state of the roads.
check out whether the chairman of arthur cox
attended ucd law with cowan
he was also the advisor for boi , joe o'reilly of the anglo golden circle and dundrum/ castlethorne
and was the advisor for the deposit state guarantee 09/08
then take a look at lavelle coleman and try to figure out
what is the story with many vacant blocks of apartments
next to tallaght hospital
which apparently were namafied during the week
its more inbred than deliverence
when arthur cox heave their way out of the governments arse
we may see some truth
Really is a sad day for the world when people Actually WANT to live here in Brisneyland
Next thing ya know they'll be Talkin up Rockhampton
I have a secure job here, but was offered a similar one in Australia, and although I have family and friends here, I'm considering taking it, because I reckon by the time my kids(if I have any) grow up Ireland will be a 3rd world country.
Full of wild animals and poisonous things. Every animal there is either strange, poisonous or sheep. Before you even start to consider the Sun and the desert. No place for the white man!!! Anywhere with a venomous mammal is just bad news...
Face it they didn't deport criminals there because it was a hoilday camp. ;-)