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Anglo-NAMA

  • 31-03-2010 7:01am
    #1
    Klingon Hamlet
    Registered Users, Registered Users 2 Posts: 2,747 ✭✭✭


    Somebody explain this---NAMA are buying Anglo's debt at a cost of billions

    ROI owns Anglo

    ROI owns NTMA

    NTMA owns NAMA

    SO ROI already took on Anglo + debt

    Therefore,we're paying twice for debt we shouldn't even own once, yeah?

    Maybe I'm completely wrong? Would love a simple explanation.:confused:


Comments

  • #2
    Ogham
    Registered Users, Registered Users 2 Posts: 1,844 ✭✭✭Ogham


    It gets worse - NAMA is not fully owned by the State - the banks have a 51% stake in it !! If these bad debts turn out to be OK - then some of the banks will make money from it !
    See this on Who Owns NAMA


  • #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Moved to Irish Economy.


  • #4
    woodseb
    Registered Users, Registered Users 2 Posts: 876 ✭✭✭woodseb


    Ogham wrote: »
    It gets worse - NAMA is not fully owned by the State - the banks have a 51% stake in it !! If these bad debts turn out to be OK - then some of the banks will make money from it !
    See this on Who Owns NAMA

    seems crazy, but it's a necessary evil of keeping the debts off the country's balance sheet

    to move debts 'off balance sheet' in an SPV, one of the key criteria is that you don't have a majority share, though you can be sure the NTMA has full control


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